Mubadala inks $7b deal with Malaysian firm

09 Oct 2010

(MENAFN) Abu Dhabi�s Mubadala Development Company has announced plans to invest $7 billion in Malaysia’s aluminium sector as part of its strategic partnership deal with 1Malaysia Development Berhad (1MDB).

The UAE investment fund company signed two collaboration agreements on the strategic partnership with 1MDB that could lead to significant increases in FDI in the country.

The agreements were signed by 1MDB chief executive officer Shahrol Halmi, and Mubadala chief operating officer Waleed Al Mokarrab Al Muhairi in the presence of Prime Minister Mohd Najib Tun Haji Abdul Razak and chief executive officer and managing director of Mubadala Khaldoon Khalifa Al Mubarak.

The deals were signed with Mubadala Real Estate & Hospitality (MREH) and Mubadala Industry (MI), said a statement from 1Malaysia Development Berhad.

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