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| 134 BILLION REASONS FOR MAHATHIR NOT TO RETHINK CHINESE INVESTMENT Fears that multibillion-dollar deals between China and Malaysia may no longer have a friend at the top may be premature – after all, the new prime minister has 134 billion reasons to maintain the status quo BY COCO LIU 14 MAY 2018 / UPDATED ON 16 MAY 2018 For years, Chinese and Malaysian officials have cheered their ambitious economic collaborations. But for now, at least, it seems the cheering is over. Mahathir Mohamad, often a vocal critic of Chinese investment deals while outside the circle of power, now sits in the centre of it as the new prime minister. Now all eyes are on how he will walk the talk. The 92-year-old politician, who last week defied the odds to unseat Najib Razak in the general election, has already said he will be re-examining all China-linked projects in the country, ringing early alarm bells for jittery analysts and economists. While many view his victory as a threat to Chinese investment, the long-term economic outlook remains positive. Trade relations between China and Malaysia, the conventional wisdom goes, are too big to fail. “We need to study all the things done by the previous government,” Mahathir said on Thursday before being sworn in as the country’s seventh prime minister. “It’s not only about China, it’s about a lot of things.” … for more, go to http://www.scmp.com/week-asia/geopolitics/article/2145797/134-billion-reasons-mahathir-not-rethink-chinese-investment |
Sino-Malaysia bilateral trade volume expected to exceed US$100 billion this year; scrap BRI’s ECRL?
KUALA LUMPUR (June 2018): Bilateral trade volume between Malaysia and China is estimated to exceed US$100 billion (RM400 billion) this year.
China’s ambassador to Malaysia Bai Tian told reporters confidence of doing business with Malaysia remained strong despite the review of several China-Malaysia mega projects.
And this was confidence was quickly backed by the opening Alibaba Group’s maiden office in Southeast Asia (SEA) at Bangsar South here today (June 18).
Alibaba founder Jack Ma told reporters that his inspiration for Alibab Malaysia was the Multimedia Super Corridor implemented by then Prime Minister Dr Mahathir Mohamad (Dr M).
Dr M, who retired from politics about 15 years ago, made a successful comeback as prime minister by leading the Pakatan Harapan (PH) coalition to victory in the country’s May 9 14th General Election (GE14).
Ma said Alibaba Malaysia would turn the office into a training centre to encourage more Malaysians to trade globally.
Although the Dr M-led PH federal government was reviewing or renegotiating several China-Malaysia mega projects that saw lop-sided agreements that grossly disadvantaged Malaysia, the East Coast Rail Link (ECRL) is unlikely to be scrapped.
The ECRL is part of China’s multi-trillion-dollar Belt Road Initiative (BRI) rail link - connecting some 69 cities and countries.
The ECRL, when completed, is set to be BRI’s Southeast Asia (SEA) rail link hub to China, Europe, Scandinavian and Nordic countries, is too huge a trading potential for Malaysia to reject.
The ECRL will serve not only Malaysia but also Indonesia, Singapore and Brunei.
I Love Malaysia-China Silk Road understands China would agree to sit down to renegotiate with Malaysia on the ECRL with the Dr M’s government.
However, China is expected to abandon Malaysia and shift BRI’s SEA trade hub to either Thailand or Singapore if the ECRL project poses unnecessary or great hurdles for completion.
These are the two latest breaking news on Sino-Malaysia’s bilateral trade:
"Bilateral trade between Malaysia, China to exceed US$100 billion
Bernama
| June 18, 2018
China's ambassador to Malaysia Bai Tian says confidence of doing business with Malaysia remains strong despite the review of several mega projects.
KUALA LUMPUR: Bilateral trade between Malaysia and China is expected to exceed US$100 billion this year, higher than the US$96 billion chalked up in 2017, said China’s ambassador to Malaysia, Bai Tian.
He said bilateral trade between the two nations grew 14.7% to US$42.7 billion in the first five months of this year compared with the same period last year.
“Imports from China to Malaysia accounted for US$18 billion, while exports to China stood at US$25 billion.
“If this momentum sustains, I am confident that this year, the bilateral trade volume between both countries will go beyond US$100 billion.
“With the presence of Alibaba in Malaysia, e-commerce and e-business will create more trade opportunities and this will add-on to the bilateral trade,” he said after attending the launch of Alibaba Group’s new office here today.
Also present were Finance Minister Lim Guan Eng, Communications and Multimedia Minister Gobind Singh Deo, and Alibaba founder Jack Ma, who earlier met with Prime Minister Mahathir Mohamad at his office in Putrajaya.
Bai said trade was a very important element for the China-Malaysia relationship, and confidence of doing business with Malaysia remained strong, despite the review of several mega projects in the country, including the East Coast Railway Line.
He said RM1.2 billion in investments came from three Chinese companies, just a week after Pakatan Harapan won the 14th general election.
“These (investments and Alibaba’s new office in the country) is an example of the confidence Chinese companies are showing in Malaysia’s economy and their support of the new government.
“There is an English proverb that says, ‘we shall not look at the tree, we should look at the forest’,” Bai added.
China was Malaysia’s largest trading partner for the ninth consecutive year (as of end-2017).
The republic is also the biggest buyer of Malaysia’s palm oil and palm oil-related products, as well as durians. - Bernama/Free Malaysia Today
Jack Ma opens first Alibaba office in Southeast Asia in KL
Minderjeet Kaur
| June 18, 2018
The Chinese billionaire says his inspiration for Alibaba Malaysia is the Multimedia Super Corridor implemented by Dr Mahathir Mohamad to promote high technology enterprises.
KUALA LUMPUR: The founder of online retail giant Alibaba, Jack Ma, officially opened the company’s first office in Southeast Asia at Bangsar South here today.
In his speech, Ma said Alibaba Malaysia would turn the office into a training centre to encourage more Malaysians to trade globally.
“We see so many young people and want to empower them,” he said.
He said Alibaba’s focus was in three sectors – to digitalise a country, support small business to trade globally and create jobs.
To mark the occasion, Alibaba Malaysia will hold a Malaysia Week from July 6 to 12, during which the best of Malaysia will be on offer, from its durian to the best tourist destination.
Chinese billionaire Jack Ma opens the Alibaba Malaysia office today.
The Chinese billionaire also spoke about his meeting with Prime Minister Dr Mahathir Mohamad this morning, describing it as “fantastic and a great meeting”.
He said his inspiration for Alibaba Malaysia came from the Multimedia Super Corridor (MSC) implemented by Mahathir during his first stint as prime minister to promote high technology enterprises.
Ma said he has seen how MSC empowered people and have watched it grow.
Last year, he said he decided to open an office in Malaysia based on the MSC concept.
He said Malaysia inspired him to move forward with Alibaba.
“He (Mahathir) is a legend. 93 years old but he knows so much about technology. After talking to him, I should read more books,” he said, drawing laughter from his audience.
“We share a lot of similarities. We believe in the internet. We believe in supporting and empowering the young, poor and rural folks.”
He said both of them were keen to look for ways to use techonology to empower farmers, create jobs and allow them to be more productive.
“We (Alibaba Malaysia) will train as many young people as possible to use technology,” Ma said.
The Chinese tycoon, with an estimated worth of US$43.1 billion, said he was confident the trade relationship between Malaysia and China would continue.
The government had earlier pledged to review several big-ticket Beijing-backed projects initiated by former prime minister Najib Razak as Malaysia sought to tackle its RM1 trillion national debt.
Ma, who had advised the previous Barisan Nasional government led by Najib on the digital economy, said problems were to be expected as China was one of Malaysia’s largest trading partners.
“If there is a problem, it is OK. People like us, our job is to solve problems.”
The event was also attended by Finance Minister Lim Guan Eng and Communications and Multimedia Minister Gobind Singh Deo.
Guan Eng said Alibaba’s involvement is not limited to the Digital Free Trade Zone (DFTZ) initiative in Sepang, Selangor.
The DFTZ, which was launched under the previous administration, is a regional logistics hub set up by the Alibaba Group and the Malaysia Digital Economy Corporation.
“I know that Alibaba Cloud, the cloud computing arm of Alibaba, has opened its data center in Malaysia in October last year (2017).”
Lim said Alibaba Cloud had also signed an agreement with Kuala Lumpur City Hall (DBKL) to use its cloud services, through big data analytics and artificial intelligence software, to implement the ”City Brain” initiative.
“It is to help solve some of the traffic congestion problems which we are facing in KL on a daily basis.
“KL is the first city outside China where this smart city initiative by Alibaba is being rolled out,” he added. - Free Malaysia Today"
Bernama
| June 18, 2018
China's ambassador to Malaysia Bai Tian says confidence of doing business with Malaysia remains strong despite the review of several mega projects.
 |
| China’s ambassador to Malaysia Bai Tian (left) join Jack Ma, Finance Minister Lim Guan Eng and Communications and Multimedia Minister Gobind Singh Deo at the opening of the Alibaba Malaysia office. |
He said bilateral trade between the two nations grew 14.7% to US$42.7 billion in the first five months of this year compared with the same period last year.
“Imports from China to Malaysia accounted for US$18 billion, while exports to China stood at US$25 billion.
“If this momentum sustains, I am confident that this year, the bilateral trade volume between both countries will go beyond US$100 billion.
“With the presence of Alibaba in Malaysia, e-commerce and e-business will create more trade opportunities and this will add-on to the bilateral trade,” he said after attending the launch of Alibaba Group’s new office here today.
Also present were Finance Minister Lim Guan Eng, Communications and Multimedia Minister Gobind Singh Deo, and Alibaba founder Jack Ma, who earlier met with Prime Minister Mahathir Mohamad at his office in Putrajaya.
Bai said trade was a very important element for the China-Malaysia relationship, and confidence of doing business with Malaysia remained strong, despite the review of several mega projects in the country, including the East Coast Railway Line.
He said RM1.2 billion in investments came from three Chinese companies, just a week after Pakatan Harapan won the 14th general election.
“These (investments and Alibaba’s new office in the country) is an example of the confidence Chinese companies are showing in Malaysia’s economy and their support of the new government.
“There is an English proverb that says, ‘we shall not look at the tree, we should look at the forest’,” Bai added.
China was Malaysia’s largest trading partner for the ninth consecutive year (as of end-2017).
The republic is also the biggest buyer of Malaysia’s palm oil and palm oil-related products, as well as durians. - Bernama/Free Malaysia Today
Jack Ma opens first Alibaba office in Southeast Asia in KL
Minderjeet Kaur
| June 18, 2018
The Chinese billionaire says his inspiration for Alibaba Malaysia is the Multimedia Super Corridor implemented by Dr Mahathir Mohamad to promote high technology enterprises.
 |
| (From left) Chinese ambassador to Malaysia Bai Tian, Jack Ma, Finance Minister Lim Guan Eng and Communications and Multimedia Minister Gobind Singh Deo during the official launch of Alibaba’s office in Bangsar South. |
KUALA LUMPUR: The founder of online retail giant Alibaba, Jack Ma, officially opened the company’s first office in Southeast Asia at Bangsar South here today.
In his speech, Ma said Alibaba Malaysia would turn the office into a training centre to encourage more Malaysians to trade globally.
“We see so many young people and want to empower them,” he said.
He said Alibaba’s focus was in three sectors – to digitalise a country, support small business to trade globally and create jobs.
To mark the occasion, Alibaba Malaysia will hold a Malaysia Week from July 6 to 12, during which the best of Malaysia will be on offer, from its durian to the best tourist destination.
Chinese billionaire Jack Ma opens the Alibaba Malaysia office today.
The Chinese billionaire also spoke about his meeting with Prime Minister Dr Mahathir Mohamad this morning, describing it as “fantastic and a great meeting”.
He said his inspiration for Alibaba Malaysia came from the Multimedia Super Corridor (MSC) implemented by Mahathir during his first stint as prime minister to promote high technology enterprises.
Ma said he has seen how MSC empowered people and have watched it grow.
Last year, he said he decided to open an office in Malaysia based on the MSC concept.
He said Malaysia inspired him to move forward with Alibaba.
“He (Mahathir) is a legend. 93 years old but he knows so much about technology. After talking to him, I should read more books,” he said, drawing laughter from his audience.
“We share a lot of similarities. We believe in the internet. We believe in supporting and empowering the young, poor and rural folks.”
He said both of them were keen to look for ways to use techonology to empower farmers, create jobs and allow them to be more productive.
“We (Alibaba Malaysia) will train as many young people as possible to use technology,” Ma said.
The Chinese tycoon, with an estimated worth of US$43.1 billion, said he was confident the trade relationship between Malaysia and China would continue.
The government had earlier pledged to review several big-ticket Beijing-backed projects initiated by former prime minister Najib Razak as Malaysia sought to tackle its RM1 trillion national debt.
Ma, who had advised the previous Barisan Nasional government led by Najib on the digital economy, said problems were to be expected as China was one of Malaysia’s largest trading partners.
“If there is a problem, it is OK. People like us, our job is to solve problems.”
The event was also attended by Finance Minister Lim Guan Eng and Communications and Multimedia Minister Gobind Singh Deo.
Guan Eng said Alibaba’s involvement is not limited to the Digital Free Trade Zone (DFTZ) initiative in Sepang, Selangor.
The DFTZ, which was launched under the previous administration, is a regional logistics hub set up by the Alibaba Group and the Malaysia Digital Economy Corporation.
“I know that Alibaba Cloud, the cloud computing arm of Alibaba, has opened its data center in Malaysia in October last year (2017).”
Lim said Alibaba Cloud had also signed an agreement with Kuala Lumpur City Hall (DBKL) to use its cloud services, through big data analytics and artificial intelligence software, to implement the ”City Brain” initiative.
“It is to help solve some of the traffic congestion problems which we are facing in KL on a daily basis.
“KL is the first city outside China where this smart city initiative by Alibaba is being rolled out,” he added. - Free Malaysia Today"
 |
| Mahathir Mohamad, center, celebrates at a hotel in Kuala Lumpur, Malaysia, Wednesday, May 9, 2018. Official results from Malaysia's national election show the opposition alliance led by the country's former authoritarian ruler Mahathir Mohamad has won a majority in parliament, ending the 60-year rule of the National Front. (AP Photo/Vincent Thian) Image Credit: AP Photo/Vincent Thian What’s Next for Malaysia-China Relations After the 2018 Elections? A closer look at how bilateral ties will likely shape up under the new government in the coming years. By Prashanth Parameswaran May 16, 2018 … for more, go to https://thediplomat.com/2018/05/whats-next-for-malaysia-china-relations-after-the-2018-elections/ |
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