KUALA LUMPUR : Cross-border business ties between Singapore and Malaysia received a shot in the arm recently, after a three-day visit by a 30-strong delegation from the Kuala Lumpur Business Club (KLBC) to the island-nation.

In a statement today, KLBC president Datuk Rohana Mahmood said, during the visit from Nov 10 to 12, the Malaysian team engaged in high-level talks with various government and private-sector entities in the island-republic.

“The main aim of the trip was to discover joint opportunities for sustainable economic recovery. There are opportunities to be found in reciprocal investments, intensification of relations and enhanced cooperation aimed at stimulating and deepening business links. I am very happy to note that not only were we successful in this aim, we also established new networks and friendships,” Rohana said.

The Malaysian delegation was briefed on the republic's investment opportunities when they met Singapore’s Deputy Prime Minister Teo Chee Hean, and Finance Minister Tharman Shanmugaratnam.

The KLBC delegation with Finance Minister Tharman (10th from left)

Meetings with the Singaporean private sector included a networking lunch with senior officials from Temasek Holdings, and discussions with DBS Bank Ltd chairman Koh Boon Hwee and senior bank officials on post-recession strategies.

The KLBC delegation also visited the Lee Kuan Yew School of Public Policy and met its dean Kishore Mahbhubani, to deliberate on how Asean was faring in terms of its implementation of international governance standards.

The trip across the causeway was KLBC's second since the club mooted its international business visits in 2005.

The KLBC delegation included representatives from notable Malaysian entities including Khazanah Nasional Bhd, Bank Negara Malaysia, CIMB Group Holdings Bhd, Sapura Group, K&N Kenanga Holdings Bhd, and Media Prima Bhd.

“Singapore was our first destination when the KLBC mooted its international business visits in 2005. Since then, we have visited Jakarta, New York, Dubai, Abu Dhabi and Manila, and we just concluded a most successful business visit to Bangkok last month.

"More than ever, we are convinced that there is great value to be found in conducting such visits”, Rohana said.