Malaysia a successful market for China’s Belt and Road plan

File picture shows a man walking past the podium at the Belt and Road summit in Hong Kong May 18, 2016. — Reuters pic
File picture shows a man walking past the podium at the Belt and Road summit in Hong Kong May 18, 2016. — Reuters pic

KUALA LUMPUR, Jan 22 — Malaysia is seen as a success market for China’s Belt and Road Initiatives (BRI), HSBC’s James Cameron said today.

The bank’s Head of Infrastructure and Real Estate for Asia-Pacific said the country is an attractive destination for infrastructure investments due to its track record in regulatory consistency and institutional maturity.

“A mature infrastructure procurement system will continue to strengthen the infrastructure investments in Malaysia,” said Cameron at HSBC’s media briefing here.

At the same briefing, HSBC Global Head of Renminbi Business Development Candy Ho said the ringgit will remain relevant for the Malaysian’s BRI although the demand for Chinese renminbi is rising.

“There will be an increasing demand for renminbi. However, the ringgit too is becoming important,” she added.

HSBC forecasted that ringgit will achieve 3.95 to the US dollar by the end of this year.

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