Beijing, China – [November 09, 2024] – Following Malaysian Prime Minister Datuk Seri Anwar Ibrahim’s official visit to China, Skyvast Corporation held a high-level meeting with CICC Capital in Beijing to advance cross-border investment cooperation between Malaysia and China.
Central to the discussions was the establishment of the China–Malaysia Synergy Fund, a landmark government-to-government co-GP investment vehicle — the first of its kind between the two nations. The fund will be jointly managed by entities from both countries, with Permodalan Negeri Selangor Berhad (PNSB) representing Malaysia as fund manager. The fund is targeted to launch in 2025 with an initial size of USD 100 million.
In addition, CICC Capital and Skyvast explored the framework for a significantly larger USD 30 billion investment platform, with Skyvast positioned as a strategic co-developer. The proposed fund would focus on strategic sectors outlined in the November 2024 joint statement by President Xi Jinping and Prime Minister Anwar Ibrahim, including cooperation in the digital economy, green and renewable energy, industrial modernization, smart cities and infrastructure, and high-value technology collaboration.
These investment priorities reflect the shared ambition of both governments to accelerate regional development in next-generation industries and deepen long-term bilateral ties.
The meeting was attended by Shawn Tan, Group Chairman of Skyvast Corporation; Roger Ren, CEO of Skyvast China; Lim Chee Siong, CEO of Skyvast Data; Long Liang, President of CICC Capital; Summer Wu, Managing Director of CICC Capital; and Asyrul Ramali, Head of Venture Capital at PNSB.