KUALA LUMPUR: JAPAN'S Mitsui & Co Ltd, which has stakes in Perodua and Integrated Healthcare Holdings (IHH) Bhd, aims to increase its investments in Malaysia.
The group is eyeing new businesses and is bullish on prospects here, Shuichi Yoshida, Mitsui & Co (Asia Pacific) Pte Ltd (MCPL) chief executive told Business Times in an interview.
MCPL, a Mitsui & Co's unit, started operating in Malaysia in 1963.
Mitsui & Co now has 20.5 per cent stake in IHH, which is Asia's largest private hospital group and Khazanah Nasional Bhd's healthcare business.
It also owns seven per cent of Perusahaan Otomobil Kedua Sdn Bhd(Perodua), which is majority-controlled by UMW Corp Sdn Bhd.
Last year, it acquired 19.99 per cent stake in Medini Iskandar Malaysia Sdn Bhd, a company majority owned by Iskandar Investment Bhd (IIB), which, in turn, is owned by Khazanah, Kumpulan Prasarana Rakyat Johor and the Employees Provident Fund.
Mitsui & Co has also invested in a joint venture with Kuala Lumpur Kepong Bhd to produce Palmera fatty acids and glycerine, and with Petroliam Nasional bhd, for gas distribution nationwide.
According to Yoshida, Mitsui & Co is exploring investment opportunities in infrastructure development, including railway-related works.
Malaysia is expected to spend some RM160 billion on rail-related projects such as the Mass Rapid Transit Lines 2 and 3 and Kuala Lumpur-Singapore high-speed rail by 2020.
Mitsui & Co previously helped to develop Malaysia's electrified double-tracking project from Kuala Lumpur to Ipoh.
"We are interested in all areas of development as we are optimistic of Malaysia's projected growth. We are also eyeing investments in new technology for upstream fields. These include agriculture, chemicals and fertilisers," he said.
Yoshida said Mitsui & Co plans to also contribute towards the development of the Rapid petrochemical complex in Pengerang, Johor.