Third From left is Nine Dragons Paper (Holdings) Ltd chairlady, Cheung Yan with Prime Minister Tan Sri Muhyiddin Muhammad Yassin. First from left is Nine Dragons Paper PR and admin director Isabel Kow Soek Foon and deputy CEO Zhang ChengFei. Second from right is Senior Minister, Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali and MIDA CEO Datuk Azman Mahmud.
KUALA LUMPUR: China’s Nine Dragons Paper (Holdings) Ltd will invest up to RM5.40bil, involving the acquisition of a mill, and a factory to focus on paper products in Malaysia, endorsing the country’s attractive investment environment and business friendly policies.
2021-03-02 11:32:24 GMT2021-03-02 19:32:24(Beijing Time) Xinhua English
KUALA LUMPUR, March 2 (Xinhua) Nine Dragons Paper, a Chinese paper manufacturing company listed on the Hong Kong Stock Exchange, will invest 5.4 billion ringgit (about 1.33 billion U.S. dollars) in Malaysia, the Malaysian Investment Development Authority (MIDA) said on Tuesday.
The group s investments in Malaysia consists of two manufacturing facilities, namely ND Paper (Malaysia) in Bentong, Pahang involving the acquisition of an existing pulp and paper mill with a total investment value of 1.2 billion ringgit; and ND Paper Malaysia (Selangor) in Banting, Selangor with an investment value of 4.2 billion ringgit that will focus on test liner, kraft liner, corrugated medium paper, paper and pulp.
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China’s ‘Paper Queen’ Makes a $4.6 Billion Bet on Southeast Asia
A Nine Dragons’s paper storage facility in Chongqing, Southwest China’s Chongqing Municipality, in November 2018. Photo: VCG
(Nikkei Asia) When China announced it would stop importing foreign waste including a crucial component in the production of cardboard Cheung Yan, the co-founder and chairwoman of the country’s largest paper manufacturer, faced a government-imposed check on her thriving business that could stunt growth.
Now, three years later, Cheung, known in China as the “paper queen,” and her Hong Kong-listed
Nine Dragons Paper Holdings Ltd. have announced plans to build a 30.2 billion yuan ($4.6 billion) factory close to Vietnam, part of a raft of investments that has extended into the Southeast Asian country, as well as Malaysia, to counter the impact of China’s ban on wastepaper, a raw material for paper products.