China’s largest glass manufacturer Kibing is planning to increase its investment in Malaysia by 100% to US$400milion (RM1.6bil) and to set up its overseas headquarters in Kuala Lumpur.
Group chairman Ge Wenyao recently told Malaysian minister Datuk Seri Ong Ka Chuan at Kibing headquarters after showing Ong, Second Minister of International Trade and Industry (MITI), Kibing’s huge factory with high tech production lines and port facilities on a small island in south-eastern China.
Kibing has already committed US$200mil (RM815mil) for its float glass production in Negri Sembilan and plans to invest an additional US$200 million to venture into higher value glass-making, such as intelligent glass, mirrors, furniture and construction glass in Malaysia, according to recent reports.
“We also want to set up our overseas headquarters in Malaysia,” said Ge.
“The reasons are your government and people are very friendly to China, and there are many local Chinese who are multi-lingual, which will help us to become global,” he said.
He added that his group, which also conducts research and development in high quality glass and has diversified into property development, was responding to China’s ‘go global’ strategy under the government’s belt road initiative when it made the decision to come to Malaysia in 2014.