Coca-Cola to invest $300 mln in Malaysia plant

KUALA LUMPUR, March 16 (BestGrowthStock) – Beverage company
Coca-Cola Co (KO.N: ) on Tuesday said it would invest 1 billion
ringgit ($301.4 million) over the next five years to set up a
bottling plant in Malaysia, a move that could help the
Southeast Asian country offset recent large investment
outflows.

Malaysia recorded a net outflow of direct investment of
24.9 billion ringgit in 2009 after an outflow of 26.1 billion
ringgit in 2008 as it lagged reforming regional peers like
Indonesia in its bid to win foreign investment and as Malaysian
companies invested overseas.

“The new investment will directly create 600-800 new jobs
at the bottling plant, and is expected to create between 6000
and 8000 jobs with local suppliers,” the company said in a
statement on Tuesday.

Malaysia’s government started to liberalise its economy to
attract more investment when Prime Minister Najib Razak took
office in April last year.

However, some reforms to tackle the budget deficit have
been rolled back and the government said at the weekend that it
had abandoned plans to introduce a goods and services tax,
following its failure to implement unpopular petrol price hikes
aimed at cutting its subsidy bill. [ID:nSGE62E002]

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(Reporting by Royce Cheah; Editing by David Chance)

Coca-Cola to invest $300 mln in Malaysia plant