Sunday, August 12, 2012

Brazil tycoon to invest $7.5 billion in Malaysia

KUALA LUMPUR (AFP) - A Brazilian conglomerate controlled by the country's richest man has pledged to invest US$6 billion (S$7.5 billion) in unspecified projects in Malaysia, the government of the South-east Asian nation said on Thursday.
EBX group chairman Eike Batista made the pledge during a visit with Malaysian Prime Minister Najib Razak earlier in the day, the premier's office said in a statement.
"We are impressed with the potential that Malaysia has to offer and wish to announce our commitment of US$6 billion into Malaysia for high-impact strategic FDI investment to be implemented swiftly," Mr Batista was quoted as saying. EBX has interests in oil and gas, logistics and other fields.

Mr Batista was ranked earlier this year by Forbes magazine as the world's seventh-richest man with a net worth of US$30 billion.

Seriously, I hate to see Najib goes down faster than his predecessor, although I did write an article back in Jan 2010 that Najib's administration may be short-lived, shorter than former PM Abdullah Badawi. It seems there's ...
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The same goes to Badawi although his departure doesn't have the same impact due to his short-term in office. And now with Najib Razak as the new Prime Minister naturally his cronies or rather those who are closely linked to ...