12 June 2014

S’pore still top foreign investor in Iskandar

  12 June 2014

By BUSINESS TIMES
JOHOR BARU: Singapore remains the top foreign investor in Iskandar Malaysia, with committed investments of RM11 billion up to April.
Iskandar Regional Development Authority chief executive Datuk Ismail Ibrahim said from 2006 to April this year, the economic corridor had attracted RM138.61 billion in committed investments, of which 45 per cent had been realised.
“Iskandar Malaysia continues to attract foreign investors, especially Singaporean companies, due to its proximity to ports and airports,” said Ismail at the groundbreaking of the RM3.7 billlion Nusajaya Tech Park, here, yesterday.
Up to December last year, 969 manufacturing projects had been implemented in Iskandar Malaysia, with investments of RM46 billion, of which 75 per cent were by foreigners, he added.
Meanwhile, Nusajaya Tech Park has
achieved a 40 per cent pre-commitment for ready-built facilities in the start-up phase prior to its groundbreaking.
Nusajaya Tech Park is jointly developed by UEM Sunrise Bhd unit, UEM Land Bhd, and Singapore’s Ascendas Pte Ltd.
Spanning 210ha, the park will be developed in three phases over nine years.
The start-up phase of 28ha will comprise ready-built facilities and land for build-to-suit developments.
Ascendas’ Southeast Asia chief executive officer Willliam Tay said with an estimated gross development value of up of RM900 million,
the first phase is expected to be completed in 2016.
“When fully completed, the tech park is expected to support 200 enterprises.”
International Trade and Industry Minister Datuk Seri Mustapa Mohamed and Singapore’s Trade and Industry Minister Lim Hng Kiang officiated at the groundbreaking.
Mustapa said the partnership between UEM Sunrise and Ascendas is a testimony to the strong relationship between the two countries.

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