12 MoUs worth about RM20 bil inked during Sabah CM's China trip

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KOTA KINABALU (April 24): Sabah Chief Minister Datuk Seri Mohd Shafie Apdal’s working visit to China resulted in the signing of 12 Memoranda of Understanding (MoUs) worth close to RM20 billion, involving local companies and Chinese investors in the industrial sector.

Speaking to reporters upon his return from China today, Mohd Shafie said the State Government, via the Industrial Development Ministry, would be fine-tuning the MoUs to ensure that the agreements come to fruition.

The MoUs include a joint-venture agreement between Jesselton Birost (Sabah) Sdn Bhd and Zhejiang Zhou Shan Run Energy Co Ltd to construct and manage the integrated refinery and oil storage terminal in the Sipitang Oil and Gas Industrial Park, which is expected to cost around RM16.5 billion.

Mohd Shafie said the five-day working trip to the Jiangxi province and Shenzhen provided an opportunity to explore the developments in the two industrial areas as well as to establish cooperation to attract Chinese investors to Sabah.

“This will not only strengthen the State’s finances through inflow of investments but also create jobs for the people,” he said.

The Chief Minister was accompanied by his wife Datin Seri Shuryani Shuaib, Deputy Chief Minister Datuk Wilfred Madius Tangau who is also Sabah Trade and Industry Minister, as well as 32 businessmen representing various industries in Sabah.

During his visit, Mohd Shafie paid a courtesy call on the Governor of Jiangxi, Yi Lianhong, and visited the Jiangxi Copper Corporation’s headquarters.

He had also visited the Xinyi Glass Holdings Ltd’s factory, where the company had agreed to invest in a glass manufacturing factory in Sabah.   

Mohd Shafie also delivered a keynote address on trade and investment opportunities in Sabah, jointly organised by the Sabah Trade and Industry Ministry and the Shenzhen Trade Bureau.

He said many Chinese investors, especially those from Jiangxi and Shenzhen, were interested to invest in Sabah due to its strategic location.

Mohd Shafie had also visited Huawei’s headquarters and factory in Shenzhen, together with University Malaysia Sabah’s chairman of the board of directors Datuk K Y Mustafa and deputy chancellor Professor Datuk Dr. D Kamarudin D Mudin.

During the visit, UMS took the opportunity to establish cooperative ties for the placement of students and lecturers at Huawei’s factory.