Kuala Lumpur, March 4 -- The Batang Integrated Industrial Estate (KITB) in Central Java has secured a new Malaysian investor who has committed to a US$7 million investment in developing a new factory there.

The commitment was sealed by Malaysian company Thong Guan Industries Bhd, one of the largest plastic producers in the Asia Pacific, in their lot reservation agreement signed in Penang, Malaysia, on Monday (March 3), according to a statement from the Indonesian Consulate General in Penang.

Consul General Wanton Saragih stated that the commitment resulted from the persistent efforts made by his side to engage Thong Guan and promote investment in Indonesia since April 2024.

He noted that these promotional efforts, carried out in areas ...