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Japan keen on investing more in Malaysia's transportation and logistics segment

Japan's infrastructure investment fund Japan Overseas Infrastructure Investment Corp for Transport and Urban Development (JOIN) looks forward to invest more in Malaysia, after its maiden investment here into the cold chain logistics business.

Future investments by JOIN in Malaysia will revolve around transportation, urban development and logistics, and will first require an invitation by Japanese companies, said its managing executive officer Noriyoshi Torigoe.

"If there are certain projects which Japanese companies are interested [in], then we can consider doing that," said Torigoe, adding that airports, rail, and toll roads are among the "eligible sectors" for JOIN to participate in.

Torigoe was speaking at the press conference after the signing ceremony between Tasco Bhd and JOIN for the latter's RM125 million acquisition of 30% stake in Tasco's cold chain logistics unit, Tasco-Yusen Gold Cold Sdn Bhd (TYGC).

"We'd like to expand here. Should the investment in TYGC [become] successful, then we can think about the next step," he said, adding that JOIN hopes to see results in its investment into TYGC in a year's time.

Also attending the signing ceremony was Minister of Finance Lim Guan Eng. In his speech, Lim hinted towards prevalent interest to have Japan invest further in the healthcare sector, following Mitsui & Co Ltd's entree into IHH Healthcare Bhd in November last year.

"Of course, we hope that perhaps JOIN can look at further investment in the healthcare sector, and I am sure the [Japan] ambassador [Dr Makio Miyagawa] is working very hard to make this a reality," said Lim, without elaborating.

Source from: The Edge Markets