Malaysia commits to billions in investments to support US economy

Kuala Lumpur

IN a visit to Washington DC on Tuesday, Malaysia's Prime Minister Najib Razak offered to purchase about US$10 billion worth of aircraft from the United States and to invest an additional US$3-4 billion to support its infrastructure redevelopment.

"I want to say that we are here with a strong value proposition to put on the table. We want to help you strengthen the US economy," stated Mr Najib, who is leading a business delegation on a three-day official visit at the invitation of President Donald Trump.

He had three specific proposals for his US host, including roping in Malaysia's biggest pension and sovereign wealth funds to plough in more monies into American assets.

The Employees Provident Fund, which has some US$7 billion of US equities in its portfolio, is to consider allocating an additional US$3-4 billion into US infrastructure, and sovereign wealth fund Khazanah Nasional to add to its US$400 million investments in high-tec…