Miti’s trade mission to Japan pulls in RM806m investment

PETALING JAYA: The Ministry of International Trade and Industry’s (Miti) four-day trade and investment mission to Tokyo and Osaka, Japan has pulled in RM806 million investment from Japanese companies.

Miti said in a statement that Japan’s construction firm Daiwa House Industry Co Ltd will channel in RM74 million to construct a logistics facility with cold storage services in Malaysia, while Japan Lifeline Co Ltd will invest RM80 million to build factory in North Penang Science Park.

Miti said the remainder RM355 million was from Daikin Industries Ltd for new factory development and a proposed investment of RM297 million from Dai-ichi Seiko Co Ltd for the manufacturing of plastic parts for automotive sensors.

It also noted that potential investments in Tokyo were valued at RM 1.08 billion, mainly concentrated in the petrochemical industry, logistics and medical devices.

“In Osaka, potential investments were RM1.05 billion and potential import of RM33 million. These potential investments were mainly concentrated in the electrical and electronics industry, while, potential trade is mainly from furniture, household products and ‘do it yourself’ products,” it added.

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