2 Indian conglomerates eyeing operations in Malaysia

Two Indian conglomerates are looking into setting up operations in the biotech and pharmaceutical industry in Malaysia by end of this year.

Malaysia will be their hub in Southeast Asia if the deals kicks off, said Director General of the Malaysian Investment Development Authority (MIDA), Jalilah Baba.

"Its two huge companies for two big projects. It's definitely for more than $312,000 for both.

"We are seriously negotiating with them, where we have made preliminary offers. So it is in their hands to decide," she told reporters on the sidelines of the bilateral meeting between the Ministry of International Trade and Industry and the Indian Minister of Commerce and Industry here yesterday.
   
Asked on further details of the two companies, Jalilah declined to give details, saying that they were still in discussions.
   
Jalilah said the Indian parties have not decided on the locations yet and hoped that they would decide to accept the offer before the scheduled Indian Prime Minister Manmohan Singh's visit to Malaysia end of this year.
   
"We have brought them all around the country. They have been here many times since the meetings that took place during our Prime Minister's visit to India this year.
   
"Most likely it will take off and in fact in few months time, I think they would really make a decision," she said.