Prime minister Datuk Seri Anwar Ibrahim has revealed Geely will invest USD10 billion (RM45.6 billion) to turn Tanjung Malim in Perak into the region’s largest auto city. The Chinese carmaker is partnered with Proton, which currently produces the X50, X70 and X90 (based on Geely SUVs) at its plant in the area.
“I am mentioning this for the first time. Geely, which is jointly producing cars with Proton, has written a 10-page letter to me to inform that it wants to continue to make Tanjung Malim the largest automobile city in the region. It will kick off with USD10 billion or RM40 billion in investment,” he said in his speech at the Selangor state-level Sentuhan Agro Madani programme, Bernama reports.
“All this is not for getting commission or gift, but to ensure the growth of our economy and thousands of our young people will secure jobs,” he added.
At the recent Global Investors & Vendors Convention 2023 organised by Proton, the national carmaker said it plans to relocate its manufacturing and research and design facilities to the Automotive High Tech Valley (AHTV) by 2026. Both Geely (Zhejiang Geely Holding) and DRB-Hicom are involved in AHTV, which serves to become Malaysia’s future hub for Next Generation Vehicles (NxGV) outlined in the National Automotive Policy 2020 (NAP 2020).
Anwar also said Saudi Arabian oil and gas company Aramco will focus on its investment and operational expansion in Malaysia. “Aramco CEO Amin Nasser has informed me that Aramco is comfortable with the government’s policies and leadership and has decided to make Malaysia the hub for Saudi Arabia’s O&G expansion in Southeast Asia,” he explained.
“Coincidentally, the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah, who performed the haj (recently) and sat next to Saudi Crown Prince Mohammed Salman Al Saud, related that the central focus of Saudi Arabia’s Asian investments is in Malaysia,” he continued.
Malaysia’s prime minister noted the country recorded commendable economic performance in the first quarter of 2023 with a 5.6% growth, which compared favourably against China, Singapore and Indonesia. He added that Malaysia has attracted some RM71 billion worth of approved investments in the first three months of this year. “This figure excludes the investments from (Tesla CEO) Elon Musk, Aramco and Geely,” he pointed out.
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You reap what you sow. In 2-3 years time.
Thanks to Najib. Bebaskan bossku!
The rakyat has spoken below
above and below are the same jolowh and associate pretending to be people’s voice
You are only you but the rakyat has spoken.
Malaysia’s population is more than 30 million. So the real rakyat’s voice should be backed by more than 30 million comments.
Malaysia’s population is more than 30 million. So the real rakyat’s voice should be backed by more than 30 million comments.
Trims kaseh Ahjibkor. Anwar tak buat apa2 pon.
#BringBackNajibAsPM
under bossku in early 2018, the exchange rate was RM2.50 to USD1, and under PN in late 2020, the exchange rate was RM3.50 to USD1. But what you said isn’t true & thus what you say now isn’t credible.
https://tradingeconomics.com/usdmyr:cur
Bossku is a criminal
By the way, Najib’s career is as good as dead now. UMNO will not bring him back. He can stick to Facebook posts and gather thousands of likes and comments
Job creation is the solution to cut back on subsidies.
But let’s hope those job are not filled by foreign labour.
Anwar menang, investment China mari
Najib menang, investment China mari.
PH menang, investment China lari.
PM dulu lebih berbakti.
Wahai rakyat pilih kali ni hati2.
#BringBackNajibAsPM
KEK above is jolohw and associate pretending to be people’s voice
You are only you but the rakyat has spoken.
Malaysia’s population is more than 30 million. So the real rakyat’s voice should be backed by more than 30 million comments.
under bossku in early 2018, the exchange rate was RM2.50 to USD1, and under PN in late 2020, the exchange rate was RM3.50 to USD1. But what you said isn’t true & thus what you say now isn’t credible.
https://tradingeconomics.com/usdmyr:cur
Sure or not your statistic
No more partnered. The Proton name will be gone eventually
Yup cancel Proton toxic name, undo the damage & syok sendiri culture to make Tanjong Malim the new Detroit of Asia.
Geely partnered with Volvo Cars much earlier and yet that brand is not still here but growing stronger with better cars released ever since their partnership.
Geely kasi USD10 billion… Elon Musk invest berapa? 10 supercharger and modems for Starlink..
Thanks to Najib. Bebaskan bossku!
geely kasi 10 billion after buy proton share and rebadge geely to x50 & x70 here, and see good sale volume from this 2 models (see result first). if want mas elon to invest more here first we must show our interest to buy and use his product, not just car. and sadly we are way too late, because of weaknesses and slowness during PN regime, mas elon has gone invest to indonesia. if tesla car get good sale volume here, maybe mas elon will think to invest more. but dsai think starlink is more important and effective because it can be use in rural area like borneo, kelantan, trganu, kedah. starlink can do more than telekom fibre optic. and in the future, internet provider have to decrease their price because have to compete with starlink.
If Geely invest RM 45.6 b, interm of share %, Geely no longer only 49%…. Mean that, Hicom share will be reduce. It is correct.
Ownership and investment are 2 different things. You could own a house 50/50 with your brother but even if you put RM 100k to renovate it and extend the house, legally your share on it still remain at 50%.
I think got million dollar R&D making grill department with few local content satisfy the blood skrz. Volvo tech car haha still waiting for fender to come from Mongolia.
Sesembang Madani
Sembang kena kencang