Malaysian and Saudi Arabian companies have signed US$800 million worth of deals, as the leaders of their countries urged increased joint ventures and investment between the two countries.
Saudi Arabias King Abdullah, on the second day of his three-day visit to Malaysia, said: The governments of Saudi Arabia and Malaysia have done their duty with regard
to implementing the legal framework to open the doors in both countries for investments. What remains is for businessmen to take the initiative.
In the biggest deal, Johor state investment arm, Johor Corp (JCorp) joined with Siraj Capital (a subsidiary of Saudi Arabias Ghassan Al Sulaiman Holding Co) to offer US$500 million worth of investment funds.
Another big tie-up includes a US$100 million project between Malaysian mobile maker MDot Mobile and the private Saudi Arabian Television Manufacturing (SATJED), which
also manufactures phones. SATJED will manufacture mobiles with Malaysian technology geared around Islamic features. |
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