Business deals worth RM50 mln signed between Malaysia, India and Sri Lanka companies

KUALA LUMPUR, Nov 9 – A total of 10 Memorandums of Understanding (MoU) with an estimated worth of RM50 million were signed between foreign and local businesses during a Business to Business matching session organised by the Selangor Indian Chamber of Commerce and Entrepreneurs (SICCE) recently.

The session, attended by 100 business leaders from India and 10 from Sri Lanka covered the areas of education, hospitality, food & beverages, health supplements, IT services, oil & gas as well as real estate.

SICCE president Dato Dr V. Shanmughanathan said the B2B discussion and networking session was initiated to stimulate the small and medium industries in the respective countries, especially in Malaysia where it forms the backbone of the economy.

“This is the beginning. Next year will be bigger where we are aiming to sign at least 100 MoUs in May worth up to RM4 billion of agreements, with more countries joining in,” he said in his speech during the Deepavali dinner held to host the business leaders last Friday.

He urged more SMEs in the country to take part in such initiatives as the right guidance and connectivity can help them to take their businesses to the next level.

“Exploring out of the current market will allow and provide space for the local business to grow horizontally as well as setting a new benchmark in their achievement,” he said.

Shanmughanathan said it is the responsibility of the chambers to create and bring in opportunities for the local players in the country.

At the dinner, the business leaders were also treated to a special performance by Priyanka NK of India’s Super Singer fame.

SICCE’s Business Connect programme is exclusively by invitation only and each participant is filtered by the committee prior to being invited. Apart from the networking session, the event also provides for adopting changing trends and high momentum business connectivity.

— WE