China’s CPCG announces up to RM10 bn investment
Focus Malaysia 11 Oct 2018 13:42
Pacific Construction Group Limited (CPCG) today announced an investment of up to RM10 billion over 10 years in Malaysia in the areas of infrastructure development, high technology machineries, knowledge transfer and education.
CPCG ranked No 96 th in 2018 Fortune Global 500 with a total revenue of RM319 billion, is the biggest private owned construction company in the world.
To facilitate the Group’s investments in Malaysia and across Asia Pacific, CPCG has established its wholly-owned subsidiary CPCI Holdings Sdn Bhd (CPCI) in Kuala Lumpur as its Regional Technical Competency Center.
CPCG founder, Yan Jiehe said, “Malaysia is business friendly, and one of the most competitive countries in the region. The country’s fundamentals are strong. You have excellent infrastructure, a robust eco-system and a big pool of trilingual talents. Kuala Lumpur, is thus, a strategic launch pad for our expansion into Asia Pacific.”
He also said, “We plan to invest up to RM10 billion over 10 years in Malaysia in line with our core business areas of infrastructure development, high technology machineries and education.
“We are open to increasing our investment especially for federal projects that will benefit the people. With our track record of having successfully delivered complicated construction projects in China, we are confident that, in collaboration with local partners, we will be able to do the same in Malaysia.”
CPCI is currently involved in a RM200 million construction project in Sahabat, Sabah. The Group is one of the largest city operators in China, undertaking the investment, construction and management of more than 3,000 parks in over 1,000 cities across China.
“Within the next five years, we plan to employ 150 highly skilled professionals of which more than half will be Malaysians as we position CPCI as a major player across the Asia Pacific region. These trilingual local talents will be invaluable to work on the Group’s projects worldwide,” Yan added.
CPCI will enable the Group to optimize its operations by centralizing its regional decision making and key activities in Kuala Lumpur including accounting, strategic business planning, business development, bid and tender management, as well as engineering services.
CPCG and its partner are currently working on the design and feasibility studies for the fourth metro line in Kiev, the capital of Ukraine. The project is valued at US$2 billion (RM8.3 billion).
In line with CPCG’s focus on education, CPCI aims to establish business schools and universities, and provide scholarships to local students. As a start, CPCI will provide up to 500 scholarships for construction and engineering students in local universities.
Founded in 1995 by Yan, CPCG is ranked 96th in Fortune Global 500, named as one of the Top 500 Chinese Enterprises, and is one of the largest integrated construction groups in China and Asia in terms of the total engineering contract revenue.