Friday, September 19, 2008

South Korean Investor Driven Away

Friday, 29 August 2008

Penang had lost a multi billion ringgit of investment from a South Korean based company which plan to set up a plant in Batu Kawan in Seberang Perai but instead opted out for another neighboring country.

Penang Chief Minister and DAP Secretary-General Lim Guan Eng said the Korean company changed its mind after a former Barisan Nasional state executive councilor had urged the federal government to scrap the second bridge project.The Korean investor reviewed the project as Batu Kawan wa no longer strategic if the new second bridge linking Batu Maung to Batu Kawan was scrapped.Guan Eng also referred to a report from a Malay daily which quoted the former BN state executive councilor as saying the second bridge should be scrapped if the project cost reaches RM6 billion.

After the statement was published in the daily, when the company learned of, it indicated that it was no longer interested in opening the manufacturing facility in Penang anymore.The Penang State Government has been working hard to attract more investors into Penang but instead there are those out there who are sabotaging our efforts by instilling, fear, hatred and instability to scare those investors away in order to achieve their mere personal political agenda.

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