KUALA LUMPUR (May 26): Malaysia has nothing to lose from the influx of Chinese investment and money into the country, said Tourism and Culture Minister Datuk Seri Mohammed Nazri Abdul Aziz.

"China is the second biggest economy in the world and a good relationship with China will only benefit us," Nazri told reporters at the topping out ceremony of the Four Seasons Place Kuala Lumpur today.

"They (Chinese investors) create employment. Our economy is growing (and) they pay taxes," he said.

The 77-storey Four Seasons Place KL is a high-end, mixed development next to the Kuala Lumpur City Centre, with a gross development value of RM3 billion.

Although the project is still slated to be launched this year, with construction targeted to be completed in June, a source said it has been delayed by six months.

"It was not easy in the beginning (as) there were a lot of challenges and obstacles in the construction of Four Seasons Place KL. However, with the selfless help and assistance of all parties, (the project) was able to pull through," China Railway Construction Corp Ltd (CRCC) chief economist Zhao Jinhua said.

"CRCC will be playing a major role in transforming the skyline of KL with many major projects in the pipeline," Venus Assets Sdn Bhd executive director Datuk David Ban said.

Venus Assets is the owner of the Four Seasons Place and is controlled by Singapore tycoon Ong Beng Seng, local prominent businessman Tan Sri Syed Mohd Yusof Syed Nasir, the Sultan of Selangor Sultan Sharafuddin Idris Shah and Ban.

As of April 30, 2017, the Chinese contractor has a total of 13 projects in Malaysia, worth a combined US$1.296 billion, Zhao said.

CRCC currently has a total of 159 on-going projects in 41 countries across the world valued at more than US$14.1 billion, according to the group.