Exclusive Qatar body to visit Malaysia

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Exclusive Qatar body to visit Malaysia

Post by Wak on 2009-11-08, 10:09

DOHA: An exclusive association, comprising Qatari businessmen and think-tank groups which promotes investment flows, modern entrepreneurial spirit and corporate development, has expressed interest to visit Malaysia soon.

International Trade and Industry Minister Datuk Mustapa Mohamed said the Qatari Business Association (QBA), established under a ministerial decree in 2002, has only 36 members.

"It's a small but highly specialised body which does not accept just anybody as a member. Only well-known businessmen can become members of QBA.

"They have expressed interest in visiting Malaysia. They have heard a lot about our success but their investments in Malaysia, thus far, is negligible," he told Bernama here today.

Investments from Qatar in Malaysia, at present, include 70 per cent equity in Asian Finance Bank and a 49 per cent stake in Pavilion Mall in Bukit Bintang, Kuala Lumpur.

Mustapa also said Malaysia welcomed the corporate tycoons from Qatar who would be shown the Klang Valley, Iskandar Malaysia and other growth areas with the idea of enticing them to consider investments in Islamic finance and real estate.

"We hope to plan for their visit either before the end of this year or early next year," said Mustapa who arrived here on Sunday as part of a week-long trade and investment promotion mission to three Arab countries including Egypt and Saudi Arabia.

Several hours after his arrival, he met the chairman of the high-powered body, Sheikh Faisal Bin Qasem Al Thani.

This is Mustapa's fourth trade and investment promotion mission in five months and nine companies are represented in his delegation including Muhibbah Engineering and Scomi Engineering.

Muhibbah Engineering is involved in the construction of the new Doha International Airport while Scomi Engineering wants to promote its monorail technology.

Mustapa also met Qatar Holding Managing Director and Chief Executive Officer Ahmad Mohamed Al-Sayed, who is also secretary to the board of directors of the Qatar Investment Authority.

Qatar Holding is a strategic and direct investment arm of the Qatar government and a wholly-owned subsidiary of Qatar Investment Authority.

Its key investment assets include Barclay PLC, Credit Suisse, Qatar Telecom, Porsche and Volkswagen and the London Stock Exchange.

Mustapa conducted a roundtable meeting with Qatari companies in construction and related sectors and held a dialogue with about 1,200 Malaysian professionals and businessmen.

He also visited the new Doha International Airport project and a steel fabrication plant operated by Eversendai Corporation, which started off in Malaysia as a structural steel erection company in 1984.

Eversendai has grown into a well-established structural steel construction and engineering conglomerate having executed projects in Malaysia, Singapore, Indonesia, Thailand, Philippines, Hong Kong, Saudi Arabia, Bahrain, Oman, Qatar, Abu Dhabi and Dubai.

It's world famous landmark structures include the Petronas Twin Towers and Burj Al Arab in Dubai.
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