KUALA LUMPUR (Dec 28): The year 2024 has been a blockbuster one for Malaysia in terms of investment announcements, as global big names Microsoft Corp, Google LLC and more recently Oracle Corp disclosed multi-year billion-ringgit investments into the country.

The investments announced in 2024, which are yet to be registered as approved investments by the Malaysian Investment Development Authority at this point, are indications of what is to come in the years ahead for the approved foreign investment (FI) numbers.

For now, Malaysia’s cumulative nine-month approved FI for 2024 (9M2024) looks decent, although some would say it could be difficult for the full-year number to surpass the amount recorded in 2023.

That said, Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz reminds observers to look at the bigger picture — where overall approved investments have increased by 10.7% for 9M2024.

Should US tariffs on imports from China materialise, Tengku Zafrul says it is inevitable for Malaysia to be impacted by it, given the economic interdependence between Malaysia and China. Nevertheless, the Investment, Trade and Industry Ministry (Miti) seems prepared to mitigate the effects as much as possible by diversifying the country’s market base.

Though the outlook for 2025 looks uncertain on the investment front, the Miti minister is expecting a similar level of investor confidence heading into the next year on the back of 9M2024 approved investment figures, coupled with various public announcements by multinational corporations on investments in Malaysia.

Much of the FI involved data centres being built, especially in the state of Johor.

The new inflow on the tech-related and data centre investments created a buzz and gained coverage in the foreign media while contributing to lifting the local bourse.

However, questions were raised over the need for so many data centres and the multiplier effect from these investments. Also of concern is their need for clean energy and water.

Other than that, in The Edge Malaysia weekly’s bumper year-end issue, we look at the best corporate deals and property transactions in 2024. Meanwhile, in the capital section, read a recap on how the FBM KLCI reversed course and likely will end 2024 on a higher note than the year before.

Read also some of analysts’ best calls on stocks this year.

Do not miss the summary of major cases heard in the courts this year and other major stories of 2024.

Also find out who made it to The Edge’s list of newsmakers for 2024 in the bumper edition of The Edge Malaysia weekly for the week of Dec 30, 2024 to Jan 3, 2025.

https://www.theedgemarkets.com/node/739230