Although no one was eventually found guilty after long-drawn court proceedings, the toxic publicity generated has made it impossible for PKFZ – Malaysia’s first and only free trade zone that will turn 15 on Tuesday – to develop fast.
To date, PKFZ has attracted about RM7bil in local and foreign investments from 170 companies. Among these are multinationals such as Oslo-based Aker Solutions, New York-listed Baker Hughes, Schlumberger and Alstom of France, and US-based edible oil trading giant Cargill. Low explains PKFZ cannot just focus on warehousing as this can’t generate many downstream economic activities and create more jobs.
With the streaming in of these exciting news, it’s no wonder Low has full optimism about the future of PKFZ in the two-hour interview. Below are excerpts: We are optimistic about our outlook and our plan to become a regional hub. We will be upgrading and expanding our infrastructure and services to meet customer needs. This is to generate economic benefits for the country as well as to reinforce the role of Port Klang as a regional maritime hub.
I have spent time with the management team over the past three months to chart our growth path. We have been reviewing our policies and procedures, stressing on good governance.I realise that amid the gloomy economic outlook, opportunities do exist.During the last visit by Transport Minister Datuk Seri Wee Ka Siong, I informed him of my idea to build a second PKFZ at land adjacent to us that may not involve a lot of financing.
Also being considered is the creation of a dedicated zone for warehousing of alcohol and cigarettes, and an e-commerce hub. > Will the past multi-billion financial scandal come back or continue to haunt PKFZ?The past is behind us. There are no more criminal suits in court. What are left are civil suits.
Currently, the PKFZ team is strong, but we want it to be stronger. We will put the right people at the right place, tapping their individual strength.> Has PKFZ started making money?We are the management company operating an entity , which is wholly owned by the Port Klang Authority.