Issued by: Departement of Foreign Affairs
MEDIA STATEMENT ON THE OCCASION OF THE VISIT BY PRESIDENT MAHATHIR MOHAMAD OF MALAYSIA TO SOUTH AFRICA FROM 24 -25 JULY 1998
The Prime Minister of Malaysia, Dr Mahathir Mohamad, will be paying a working visit to South Africa from 24 - 25 July 1998.
The main purpose of Dr Mahathir's visit will be to officially open the new chancery of the High Commission of Malaysia in Pretoria and to hold discussions with Acting-President Mbeki on a wide range of issues.
Within the framework of Malaysia's commitment to strengthening people-to-people relations, the Prime Minister will launch a weeklong Malaysian food festival in Johannesburg and will also officially open the Pecanwood Resort and Residential Estate at Hartebeespoort Dam, in which a Malaysian company, Country Heights Holding, holds a 51% stake.
Malaysia is the second largest investor in South Africa (R1.8 Billion in 1996). In 1997, US-based SBC Communications Inc and Telkom Malaysia acquired a 30% stake in Telkom SA, marking the largest direct investment in South Africa with an inflow of US $ 1.26 Billion. Petronas has also acquired a 30% stake in the South African oil company, Engen Ltd. The majority of investments in South Africa is mainly concentrated in the tourism industry and property development.
ISSUED BY THE DEPARTMENT OF FOREIGN AFFAIRS PRETORIA 22 JULY 1998