M'SIA TO BECOME A MAJOR PLAYER IN LONDON PROPERTY MARKET, SAYS NAJIB

12 Jul 2013 11:19

LONDON, July 4 (Bernama) -- Malaysia's aggressive investment in the United Kingdom will turn it into a major player especially in the London property market.

Prime Minister Datuk Seri Najib Tun Razak said the Employees Provident Fund, the largest Malaysian government pension fund by assets, was flushed with funds and needed to invest some of its surplus cash, abroad.

Malaysia has also over shadowed most of its international rivals with its investments in the UK property market.

Last year, Malaysian investors invested 1.4 billion pounds, almost all in London, snapping up City of London offices and the vast redevelopment project of the Battersea Power Station, more than any other Asian state, said Najib in an exclusive interview published today in the Financial Times.

Najib was quoted as saying that Malaysians knew, understood and liked London and, investors were confident of very good yields from London offices.

The prime minister also touched on his pledge to accelerate economic reforms and the modernisation from within the country's political framework.

"I want to prove the point that we can make changes from within. We can transform the government and the economy, as well as, democracy in Malaysia," Najib was quoted as saying in the half-page article written by Ed Hammond and Stefan Wagstyl.

-- BERNAMA

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