22 July 2016, Kuala Lumpur : According to The Star, Eight Malaysian companies will invest US$3bil (RM12bil) in seven sectors, including renewable energy and biodiesel, in the Indian state of Andhra Pradesh. Protasco Bhd is one of the companies to invest in water threatment plant in India.

Protasco foreign ventures since IPO under Executive Director Chong Ket-Pen had spooked investors, counting South Africa, Lybia, Syria, Hainan China and Indonesia among the few - non success and all made losses ranging from tens of millions to hundreds of millions. Market perceive the recent India venture as yet another money spinning plan of existing management, and cooperation with Malaysia Royal Police Retiree Cooperation (Koperasi Polis PDRM) raise even more questions, as if the purpose of the news is to tie relationship with the source of conspiracy to cover up graft and corporate blackmails originated from key officers from Protasco Bhd.

Australian Report "Dogs of Bursa Malaysia" had recently discovered trails and governance issues. The recent Indian drama is just another episode staring Chong Ket-Pen and cronies. (source: https://dogsofbursamalaysia.wordpress.com/2016/07/21/wolfofwallstreet-malaysia-version/)

http://www.thestar.com.my/business/business-news/2016/07/22/malaysian-companies-to-invest-rm12bil-in-india/

Friday, 22 July 2016

Malaysian companies to invest RM12bil in India

KUALA LUMPUR: Eight Malaysian companies will invest US$3bil (RM12bil) in seven sectors, including renewable energy and biodiesel, in the Indian state of Andhra Pradesh.

The companies are Malaysia Biodesel Association, Protasco Bhd, Police Cooperative Organisation, Antah Strategic Services Sdn Bhd, Entogenex Industries Sdn Bhd, Sumwim Solutions Malaysia Sdn Bhd, Highgard Sdn Bhd and China 1st Metallurgical Construction Sdn Bhd.

Seven memoranda of understanding (MoUs) signed today between the Malaysian companies and the Andhra Pradesh Economic Development Board, are expected to create about 8,000 jobs, said Asean-India Business Council Co-Chairman Datuk Ramesh Kodammal.

“The value of the MoUs signed today is just a fraction of the business potential between Asean and India.

“With a combined population of 1.8 billion people and existence of bilateral trade agreements such as the Asean-India Free Trade Agreement (AIFTA) and Trans-Pacific Partnership (TPP), opportunities in Asean and India abound for our business entities,” he said at the Asean-India Business Leadership Conclave 2016 here.

The signing of the MOUs was witnessed by Ramesh and International Trade and Industry Minister, Datuk Seri Mustapa Mohamed.— Bernama