Malaysian here. I understand this project will create jobs in Malaysia and government (federal and state) unlikely going to put a hold to it with unemployment rate so high (don't bother looking at online statistics because they're not real). Also, Johor has been known to locals like myself as an industrial investment driven state in Malaysia due to the strategic location.
On another note, the current finance minister is also a pro foreign investment politician as long as it benefits the locals. He was the Chief Minister of Penang, one of the only 2 states out of 14 in the country running in surplus financial position ever since he was elected. Most income were from foreign investment
Most mega projects were reviewed and some have been cancelled because agreements were made to disadvantage Malaysian's tax money such as paying penalties of up to half a billion ringgit to foreign government in the event of project not completing on time or completed at all.
The only question in my mind (haven't researched yet) is whether the purchase of Altech's site was at arms length. If any royal families are benefited from the purchase of the site then I'd be disappointed.
I remain positive on the outlook of Altech Chemicals thus far unless anything surfaced from credible sources indicates fraudulent dealings.
ATC Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
