MIDA in talks with auto companies to invest in M'sia

The Malaysian Investment Development Authority (MIDA) is currently in talks with several automotive companies which are interested to invest in Malaysia.

Chief Executive Officer Datuk Azman Mahmud said with the large presence of international automotive companies such as the BMW Group, it had certainly reinforced Malaysia's position in the regional automotive market.

"When BMW tripled their operations within a very short period of time, that signified how important Malaysia was to investors for them to consider it as a distribution centre for the region.

"(In fact), we are talking to few (automotive companies) and we will know when the time comes," he told reporters after the opening of BMW Group''s regional parts distribution centre at the Senai International Airport Free Industrial Zone here today.

However, Azman did not disclose details of the potential investors.

He said Malaysia certainly had its strength in the automotive sector compared with neighbouring Thailand.

Meanwhile, BMW Group Senior Vice-President of Asia, Pacific and South Africa Hendrik von Kuenheim said the new regional parts distribution centre in Senai would certainly assume a key role in elevating Malaysia''s position in the regional automotive market.

He said the record sales performance achieved in Asia last year and in the first quarter of 2017 was a testament to BMW Group's strength in the region.

"In that, we believe Malaysia is a key market that supports our strategic business direction in expanding our footprint in the region," von Kuenheim added.

The 775,000 square feet facility, which is one of the largest BMW facility of its kind in the Asia Pacific region, will support over 23 countries in the region as a logistics warehouse and parts distribution centre. -- Bernama