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Monday, September 22, 2008

China builder BUCG eyes jobs in Malaysia

BEIJING Urban Construction Group Ltd (BUCG), one of China's biggest construction players with US$4 billion (RM13.8 billion) annual revenue, wants to invest in Malaysia.

The China-listed firm, established 30 years ago, is eyeing highway and building construction jobs here, said its assistant president Andy Zhao.

He said BUCG, which is an expert in architectural design, wants to transfer its expertise and has targeted Malaysia as a new growth market.

Today, it has investments in 20 countries including China, the Middle East and Africa, building highways, subways, hotels, residences and corporate towers.

"We feel that now is the right time to enter Malaysia as other foreign investors are pulling back from investing due to global uncertainties.

"We are unfazed by what's happening and as investors, we need to constantly look for new opportunities," Zhao said.

He was speaking to Business Times in Kuala Lumpur at a recent signing ceremony appointing BUCG as main contractor for The Pearl @ KLCC by project developer Ceramic Home Tiles Sdn Bhd (CHT).

The Pearl @ KLCC is BUCG's maiden development in Malaysia and is being built for a Kuwait Finance House-led consortium which bought it en bloc from CHT.

Zhao said the company is looking at building a long-term partnership with CHT to work on the latter's future projects.

"We were invited by CHT to participate in the project and this is just the beginning," he added.

Zhao also said BUCG wants to build ties with local construction players and developers and is talking to main board-listed developer Malton Bhd to explore opportunities in Malaysia.

"We are interested in good projects. We have the money and want to invest it wisely," he said, adding that the company is keen to work on projects in Iskandar Malaysia, Penang and the Klang Valley.

By New Straits Times (by Sharen Kaur)

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