Iskandar Malaysia secures RM10 bil in investments in 3Q

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JOHOR BAHARU (Oct 16): Investments worth some RM10 billion has been secured by Iskandar Malaysia in the third quarter of this year, pushing its cumulative committed investments up until Sept 30 - from its inception in 2006 - to RM156.35 billion, of which RM77.17 billion or 49% has been realised, according to a Bernama news report.

This attests to the fact that investors, both local and foreign, are enthusiastic about Iskandar Malaysia as it continues to take shape, said Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin in the news report published this evening.

The report, quoting him from a media statement, said the Johor government is constantly looking to attract more investments “to ensure the quality of life of the people in Iskandar is elevated and sustained”.

Mohamed Khaled is also co-chairman of Iskandar Regional Development Authority (IRDA).

The news agency also quoted IRDA chief executive Datuk Ismail Ibrahim as saying that the creative sector has continued to grow in the third quarter with an investment from Astro Production Sdn Bhd (APSB) throug Pinewood Iskandar Malaysia Studios.

Ismail also said that Iskandar Malaysia, being close to Singapore, “is an added value for APSB to attract international studios based in the republic as its potential clients”.

He added that small and medium enterprises (SMEs) should capitalise on various forms of assistance available, such as the special funding and investment partnerships unveiled in Budget 2015, to enhance their participation in Iskandar Malaysia’s development.

The news report further quoted him as saying that of Iskandar Malaysia’s cumulative committed investments, 63% (RM98.85 billion) was from domestic investors while 37% (RM57.49 billion) was from foreign, with the top five investing countries from January to September being Singapore, US, Spain, Japan and China.