Malaysia, China sign three MOUs worth nearly RM20bil

NANNING: Malaysia and China have signed three memoranda of understanding (MOUs) valued at RM19.84bil.

The first MOU, with a value of RM15bil, was signed between Citaglobal Bhd and Shanghai Sus Environment. This partnership aims to explore potential collaborations in developing waste to energy power plants primarily in Malaysia.

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The second MOU, worth RM2.34bil, was signed between PM Access World and Beibu Gulf International Port Group. This agreement focuses on warehousing and logistics cooperation to support the New International Land-Sea Trade Corridor and enhance economic and trade cooperation between Guangxi and Malaysia.

The last MOU, worth RM2.5bil, was signed between Sime Darby Oils International Limited and Guangxi Beibu Gulf Port Group. The purpose of this MOU is to establish a trading and distribution center for refined palm oil and shortening in Qinzhou, with an estimated annual transaction volume of 500,000 tonnes.

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The signing of the MOUs took place in the presence of Prime Minister Datuk Seri Anwar Ibrahim, accompanied by Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Deputy Agriculture and Food Security Minister Chan Foong Hin, Local Government Development Minister Nga Kor Ming, and Deputy Foreign Affairs Minister Datuk Mohamad Alamin.

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Anwar is currently in Nanning, China, for a one-day working visit to the 20th China-Asean Expo (CAExpo) and the China-Asean Business and Investment Summit (Cabis).

Anwar is expected to hold a press conference in Nanning after separate closed-door meetings with the China Communications Construction Company (CCCC) and Huawei.

The Prime Minister will return to Kuala Lumpur on Sunday (Sept 17) to attend the ongoing Parliament session on Monday (Sept 18).