China Daiyin Group will invest MYR 100 million in Malaysia

According to Oriental Daily, China Daiyin Textile and Garment (China) Group will invest an estimated 6.4 in the Sedenak Industrial Park in Kulay, Johor, through its subsidiary Daiyin Textile (Malaysia) Sdn. billion ringgit. The chairman of Daiyin Group said that Malaysia is the first country for Daiyin Group to enter Southeast Asia. The Shinina Industrial Zone will introduce the world’s advanced textile equipment and build a spinning base with 200,000 spindles. The annual export volume is expected to be about 350 million US dollars. It will promote the development of the local textile industry and create employment. Currently, Daiyin Group and UOB Malaysia have signed a cooperation agreement on credit financing, business settlement and comprehensive business.