GEORGE TOWN, July 29 -- Penang has been receiving more inquiries from Chinese companies interested to invest here in the past year, said Penang Chief Minister Chow Kon Yeow.

He said many companies from China are looking towards investing in South-east Asia, including Penang and Malaysia.

"At the moment, we do not see big numbers of successful investments yet, but we have received a lot of inquiries," he said during a press conference to announce the 2024 Asia-Pacific Semiconductor Summit and Expo this October.

He said it is possible that companies in China are cautious about bringing their investments outside their home country as it involved capital outflow.

"We are ready to accept and witness a surge in inquiries, there are some suc...