SWT International to attract RM10b investment into Malaysia in 3 years

The Malaysian ringgit advanced to its highest in more than seven months on July 8, 2014. — AFP pic
The Malaysian ringgit advanced to its highest in more than seven months on July 8, 2014. — AFP pic

KUALA LUMPUR, Aug 21 — SWT International Investment Alliance aims to bring in RM10 billion worth of investment into Malaysia’s property development, manufacturing and film production within the next three years.

The alliance is an international investment network established by Swhengtee International Sdn Bhd group president and founder, Datuk Seri Gavin Tee Swee Heng.

“We are confident that this target is achievable given the country’s robust market,” he told a media briefing here today.

During his overseas travels to promote Malaysian properties as part of his “Swhengtee Property World Tour”, more than 10 contracts were signed with companies all over Asia, including a RM1 billion-agriculture contract.

On Budget 2015, Tee hoped the government would announce more measures that would assist first-time homebuyers and look into ways to restore local property buyers’ confidence towards the market.

He pointed out that even with the introduction of many incentives, it is still difficult for first-time home buyers to secure 100 per cent housing loan and there had even been an uptrend in the number of loans that were rejected.

“Right now, we are seeing that local property buyers are losing confidence on the market while foreign investors are getting excited. We hope the government can look into why this is happening,” he said.

Turning to foreigners’ perception on the country following the missing Malaysia Airlines flight MH370, Tee said it was imperative that the government aggressively promote the country to the world, especially East Asia, and set the record straight.

Tee said foreign investors confidence had slightly declined, however, it could be restored with more promoting efforts given that Malaysia is still one of the best investment destinations. — Bernama