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Article: CORR ABU DHABI MULLS US$1 BLN INVESTMENT IN MALAYSIA.
- Article from:
- AsiaPulse News
- Article date:
- July 23, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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(Corrects typo in headline)
ABU DHABI, July 23 Asia Pulse - Malaysia's Prime Minister Najib Razak has announced a major initiative by the Abu Dhabi government whereby a sovereign wealth fund it wholly owns is set to make a US$1 billion investment in Malaysia in the energy, real estate and hospitality sectors.
Najib said the proposed investment would be carried out in partnership with a new Malaysian sovereign wealth fund to be known as "1Malaysia Development Berhad" (1MDB), which is the result of the government's decision to expand the east coast state of Terengganu Investment Authority (TIA).
Najib was speaking to Bernama Monday night after ...