• Malaysia books $25M deals in forum

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    DAVAO CITY: Malaysian companies booked $25.21 million in sales and business deals during the Brunei- Indonesia-Malaysia-Philippines – East Asean Growth Area (BIMP-EAGA) trade fair in Davao last month, the Malaysian Embassy in Manila said on Wednesday.

    Nyaee Ayup, commissioner of the Malaysian Trade Office in Manila, said in a statement they were able to gather 49 companies and conduct 584 business matching that generated $25.2 million.

    The service sector contributed the most with $14 million followed by household and industrial products worth $5.12 million.

    Other Malaysian business interests were on confectionery with $3.44 million, beverage with $2.36 million, processed food with $160,000, health and beauty with $120,000 and spices and sauces with $6,800.

    Other business interests with other countries were on tourism and ICT and business process outsourcing.

    Ernie Tomas Jr., chief of investment and promotions of the Mindanao Development Authority, said a Malaysian company is set to establish an oil palm plantation in Maguindanao.

    “Discussions on investments with Malaysia were more oil palm,” Tomas said, adding that Malaysia is also interested to pour down money on coconut and corn processing. “There will be more food processing businesses happening in the next two years.”

    Other business interests with other countries were on tourism and ICT and business process outsourcing.

    “We are happy that Malaysian companies have come up with quality business partnerships in Davao,” said Ayup. “Fortunately, we were able to create new opportunities for expor in the two subregions in Southeast Asia.”

    It was learned that the investment mission in Manila in May has generated sales of $50.6 million as reported by Malaysian Minister of International Trade and Industry Dato Sri Mustapa Mohamed.

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