SEBERANG PERAI, Feb 21 — Penang is hoping to hit RM5 billion in total manufacturing investments for 2018 or about half its record-high of RM10.8 billion investments in 2017.

Penang Chief Minister Chow Kon Yeow said matching 2017’s result was unlikely.

"If we can end the year of 2018 with a total investment of RM5 billion, we will be very happy,” he said, adding that the state already recorded manufacturing investment of RM3.8 billion as at September 2018.

"We are still waiting for the full investment figures for the whole year from the Malaysian Investment Development Authority (Mida), why don’t we ask the minister,” he said during a press conference with International Trade and Industry Minister Datuk Ignatius Darell Leiking at the official launch of SAM Engineering & Equipment (M) Bhd’s (SAMEE) new plant.

Leiking said Mida is still tabulating the investments figures for the whole nation, which he will announce on March 14.

He also advised against a fixation on pure investment numbers.

"What is important is the quality of investments that come in; the jobs created and the growth of the economy and industry due to these investments,” he said.

Penang has been an exemplary state in terms of attracting investments and its strong manufacturing sector, the minister said when encouraging other states such as Sabah to learn from Penang’s value chain.

When asked to comment on the impact of the US-China trade war on Malaysia, Leiking said some impact was unavoidable but Malaysia’s strong foundations will soften this.

"We have our own ecosystem, like SAMEE opening up a new plant here, so some industries can still continue to prosper despite the trade war,” he said.