International Finance Corporation (IFC) the World Banks investment arm will raise its investment in Malaysia to a maximum of 200 mln dlrs from current 21.2 mln IFC chief executive William Ryrie said. He told reporters after a two-day meeting with government and private sector representatives that the IFC would be active in risk capital and equity finance. The IFC is interested in a 500 mln ringgit Sabah state government pulp and paper project and is talking to state investment holding company Permodalan Nasional Bhd about joint ventures to help transfer profitable firms to Malays. Ryrie added the IFC is involved in underwriting a 60 mln dlr Malaysian Fund to be launched on the New York Stock Exchange next month. IFCs investment in Malaysia involves textile manufacturing development finance cement iron and steel sawmill operations and money and capital markets.
WORLD BANK'S IFC TO INVEST MORE IN MALAYSIA