Tuesday, March 12, 2013

Malaysia, UAE sign RM39bil joint ventures in petroleum and finance

PUTRAJAYA: Malaysia and the United Arab Emirates on Tuesday inked agreements involving two joint venture investments worth RM39bil. The first involved the establishment of a RM18bil AABAR-1MDB strategic partnership to focus on making sustainable investments in important high-impact projects The other investment involved a RM21bil crude oil and petroleum storage facility off Tanjung Piai in johor. Prime Minister Datuk Seri Najib Tun Razak and Crown Prince Sheikh Mohammed Zayed al Nahyan, here on a one-day visit, witnessed the signing of the agreements. Najib said the projects would create thousands of well-paying new jobs for Malaysians.

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