Business Times, December 27, 2011

KUALA LUMPUR: The era of local companies preferring to invest in overseas markets has come to an end, says Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir.

He said local companies had seen a lot of excitement in the local economy due to the Economic Transformation Programme and the Entry Point Projects.

“Domestic direct investment (DDI) totalled RM19.7 billion, or 48.4 per cent, and foreign direct investment RM21 billion, or 51.6 per cent, just slightly higher from that of October 2011.

“With the country achieving RM40.7 million in investments as at October, I believe we can achieve the same investment figure of RM47 billion recorded last year as we still have figures for the last two months to include,” he told the media after launching the “KL Principle Code of Ethics for the SMEs” programme here on Friday.

Mukhriz said Sarawak was the top state with RM7.3 billion in investment as at October and the largest investor was local company Leader Universal Aluminium (Sarawak) Sdn Bhd.

Selangor was second with RM6.8 billion, Johor (RM6.7 billion), Penang (RM5.7 billion), Negeri Sembilan (RM3.5 billion), Pahang (RM2.9 billion), Terengganu (RM1.4 billion), Perak (RM966 million), Kedah (RM765 million), Sabah (RM720 million), Kuala Lumpur (RM299 million), Kelantan (RM129 million) and Perlis (RM23 million). - Bernama