ISKANDAR PUTERI: Investors from the Far East are high on the radar as potential investors to invest at the Pengerang Integrated Petroleum Complex (PIPC) project

Johor Petroleum Development Corp (JPDC) chief executive Mohd Yazid Ja’afar is targeting companies from China, Japan and South Korea as the next top investors for the PIPC.

He said the company wanted to attract these investors to invest in petrochemical-related activities in the multi-billion ringgit PIPC project in Kota Tinggi.

“We are keen on the second-tier Chinese companies to set up their operations in the PIPC as the big boys from China are going to Europe or the United States,” said Mohd Yazid. He told reporters this after signing memorandums of understanding (MoUs) with four agencies which would provide financial assistance to the small and medium enterprises (SMEs) to participate in projects in the PIPC mostly in the support sector.

The four were the Federal Government’s Bumiputra Agenda Steering Unit (Teraju), SME Corporation Malaysia (SME Corp), Credit Guarantee Corp Malaysia Bhd (CGC) and SME Bank Bhd.

Teraju was represented by its chief executive officer, Datuk Husni Salleh, SME Corp by its deputy CEO Rizal Nainy, CGC by its president and chief executive officer Mohd Zamree Mohd Ishak while SME Bank by group managing director Datuk Mohd Radzif Mohd Yunus.

The event was witnessed by Johor Public Works, Rural and Regional Development committee chairman Datuk Hasni Mohammad.