GEORGE TOWN: Value Partners Ltd, a Hong-Kong based investment company founded by former The Star journalist Cheah Cheng Hye, is exploring investment opportunities in tourism and health-related projects in Penang.

Cheah, the chairman of Value Partners, told StarBiz that Penang could do more to attract tourists from Southern China.

“There exists a strong historical relationship between Southern China and Penang, which can be tapped to boost tourist arrivals from China to Penang.

Cheah: ‘We are now exploring tourism and healthcare-related projects.’

“We are now exploring tourism and healthcare-related projects that can attract Southern China tourists to come over.

“These would be sizeable projects, as we would not be interested in small undertakings,” he said.

Founded by Cheah in 1993, Value Partners manages about US$8bil worth of funds, with investments in China, the Asia-Pacific, Japan and Australia.

Cheah, 57, a former student of Penang Free School, worked as a journalist for The Star in Penang from 1971-1974.

He was speaking at the investPenang one-day seminar jointly organised by investPenang and ECM Libra Financial Group Bhd.

Also present was Penang Chief Minister Lim Guan Eng who delivered the keynote address.

ECM Libra chairman Datuk Seri Kalimullah Hassan said the seminar had attracted fund managers from India, the Philippines and Hong Kong, among other countries, who managed funds worth US$2bil (RM6.2bil) and above.

“They are exploring investment (opportunities) in healthcare, business process outsourcing (BPO), infrastructure, and tourism sectors.

“BPO (which) supports the legal and medical care business has the potential to grow in Penang, as the state has a pool of educated workforce to support BPO enterprises,” he said.

The companies that took part in investPenang included Religare Enterprises Ltd, an India-based financial services company with operations around the globe; Alliance Global, which is involved in the food and beverage, real estate, and quick service restaurants in the Philippines; and local companies such as YTL Corp Bhd, Multi-Purpose Holdings Bhd and SP Setia Bhd.