China Still An Attractive Investment Location For Foreign Investors — Stanchart
China is still an attractive investment location to foreign investors as investor investment appetite for the market remains in a similarly strong level to last year, said Standard Chartered Bank (Stanchart). In a statement today, Stanchart said, this was the conclusion from its second RMB Investors Forum, a programme aimed at engaging market participants on real investment issues around China through a rigorous process of research, debate and analyses. It said the key among this year’s findings was that China was top three priority for more than 60 per cent of investors who responded to the survey, nearly 20 per cent more than those who indicated such in the 2016 survey.
Geely Signs Final Contract With DRB-Hicom
Chinese carmaker, Zhejiang Geely Holding Group, has signed a final contract with DRB-Hicom Bhd, acquiring 49.9 per cent of the latter and 51 per cent stake in luxury sports car brand Lotus. A company statement said the acquisition was expected to be completed in three months, after which Geely would form a core management team recruited from a pool of global candidates to ensure the smooth operation of Proton. Moving forward, the Chinese carmaker will make every effort to enhance the market competitiveness of Proton and Lotus and to foster the revival of the two brands. Geely Holding’s Chairman, Li Shufu, said the company’s partnership with DRB-Hicom would enable Proton to become the industry leader in Malaysia and a top three brand in South-East Asia.
Maybank rolls out Alipay-enabled terminals in Malaysia
Malayan Banking Bhd (Maybank) has rolled out its first batch of Alipay-enabled merchant terminals in Malaysia to facilitate contactless payments for the estimated three million Chinese tourists in Malaysia this year. Maybank said the Alipay-enabled terminals are available at retail outlets including Royal Selangor, Poh Kong Jewellers, Harrison Signature, Made In Malaysia, Mystical Borneo, King of Fruits and Sunway Resort Hotel. Maybank group chief strategy officer Michael Foong said the new Alipay-enabled terminals would not only provide a payment service that was swift, seamless and secure for visitors from China but also help enhance their travel experience in Malaysia, thereby helping to boost tourist spend. “Tourists from China form a growing portion of foreign visitors to Malaysia, and are estimated to spend some RM9 billion in our country this year,” he said.