PUTRAJAYA — Malaysia remains a top destination for foreign investments as the Abu Dhabi Investment Authority (ADIA) reaffirms its commitment to increasing investments in the country, said Communications Minister Fahmi Fadzil.
Speaking at a press conference after the Cabinet meeting today, Fahmi, who is also the unity government spokesperson, highlighted the confidence foreign investors have in Malaysia’s economic potential.
“The Prime Minister (Datuk Seri Anwar Ibrahim) had previously announced that several parties, including ADIA, intend to increase their investments. Following this, we read about the additional investment in Malaysian company Yinson Holdings Bhd.
“This clearly shows that Malaysia continues to be the preferred destination for foreign investments, including from entities like ADIA from the United Arab Emirates (UAE),” he said.
Media reports on January 14 revealed that Yinson Holdings Bhd’s subsidiary, Yinson Production Offshore Holdings Ltd (YPOHL), secured a US$1 billion (RM4.48 billion) investment from a consortium of international investment firms.
Yinson said the investment comes with an option to increase the amount to US$1.5 billion within 24 months.
The consortium includes Platinum Lily B 2024 RSC Ltd, a wholly owned subsidiary of ADIA, as well as funds managed by the British Columbia Investment Management Corporation (BCI) and the RRJ Group.
ADIA, one of the world’s largest sovereign wealth funds, manages assets exceeding US$1 trillion.
In a related update, Fahmi said that Anwar is currently on an official visit to the United Kingdom, where he is scheduled to meet British Prime Minister Keir Starmer.
The trip will also include stops in Brussels on January 19 to meet Belgian Prime Minister Alexander De Croo and European Commission President Antonio Costa, followed by attendance at the World Economic Forum in Davos before returning to Malaysia on January 23.
Fahmi also shared updates on Malaysia’s upcoming 2025 Asean chairmanship, stating that preparations are underway.
The first key event, a foreign ministers’ retreat, will take place in Langkawi on January 18–19, kicking off more than 300 official meetings throughout the year.
“Bernama has been appointed the official media coordinator, while RTM will serve as the official broadcaster for all Asean chairmanship programmes. This is a significant honour for us, and we are committed to being gracious hosts to the delegations throughout the year,” he said. — January 15, 2025