JAKARTA: Malaysia has continued to expand its investments in Indonesia with the signing of five memorandums of understanding and agreements that will be sealed by the private sectors of both countries worth US$3.1bil (RM12.88bil).

       Prime Minister Datuk Seri Ismail Sabri Yaakob said Malaysia’s total investments in Indonesia amounted to US$12.53bil (RM52.04bil) while Indonesian investments in Malaysia were worth US$1.16bil (RM4.82bil) in the second quarter of the year.

       “I believe Malaysian investments in Indonesia are big,” he told reporters in a media conference with Indonesia’s President Joko Widodo at Istana Bogor in conjunction with his visit to the country.

       Ismail Sabri also called for the involvement of Malaysian companies in the development of Kalimantan, which shared a border with Sabah and Sarawak. Indonesia is building its new capital in eastern Kalimantan. — Bernama