Thai firms in Malaysia keen to increase investments, expand ops - Mustapa

Mustapa, who met senior management teams from five Thai companies with operations in Malaysia, said they wanted to boost investments in the country.

The companies are Berli Juncker pcl, Tipco Asphalt plc, Thai Beverage plc, Charoen Pokphand Foods pcl and Interlink Thailand.

"They saw a lot of opportunities (in Malaysia). Malaysia is the natural choice because it's closer. I met them and they said they wanted to increase their investments in Malaysia, which is good," he told the media after attending a seminar on 'Business opportunities in Malaysia and Thailand' here today.

Also present at the seminar was Thai Industry Minister Atchaka Sibunruang. Mustapa made a stopover here to attend the seminar before flying to Chiangmai to participate in the Asean Economic Ministers' retreat.

The Thai companies, he said, were aggressively expanding abroad and wanted to use Malaysia as their base in ASEAN and the world due to the country's political and economic stability.

The minister said Charoen Pokphand Foods, a Thai food processing company with global operations, wanted to expand its Malaysian operation and make the country its base in the halal industry.

"They saw Malaysia as a country which is well ahead in the halal industry," he said, adding that, he was surprised by the huge turnout from Thai companies.

The organiser expected about 400 representatives from Thai companies but they swelled to over 500.

Malaysia and Thai bilateral relations, he said, had been progressing well with trade and investment as well tourism growing between the two countries.

"Thailand is Malaysia's fifth largest trading partner with total trade between both countries of US$22 billion (US$1=RM4.15) last year.

Meanwhile, a representative from Charoen Pokphand Foods, who spoked at the seminar, said in terms of halal industry, Malaysia was the best destination to invest in compared to other countries.