Iskandar Malaysia open up new opportunities

Exciting projects such as the Pinewood Iskandar Malaysia Studios, to be completed in May, are creating new investment opportunities for bigger participation by Indonesian investors.

The full-fledged movie production studio offering international class facilities and expertise, coupled with the nearby developments of the Pengerang Intergrated Petroleum Complex and Desaru beach resorts, will be creating new spillover effects benefitting Iskandar Malaysia in the long run, an investment forum here was told, Monday.

Iskandar Regional Development Authority (IRDA) Chief Executive Datuk Ismail Ibrahim said there were new opportunities in the tourism, healthcare, education and logistics sectors for Indonesian investors and business groups.

"While we have seen active participation by our investors across the Straits of Tebrau, that is, Singapore, we believe there is room for higher involvement by our friends from Indonesia," he said when speaking at the Iskandar Malaysia Investment Forum here.

The investment forum is part of the Iskandar Malaysia-Indonesia Trans-Regional Promotion Mission (IMITRA).

To date, Indonesian investors in Iskandar Malaysia included Sinas Mas, which invests in leisure and tourism development in Sena; Musim Mastika in the production of palm oil industrial cluster in Tanjung Langsat; Mulford Plastics in plastic moulding manufacturing in Pasir Gudang; and Delphi Cocoa that manufactures cocoa-based food products in Pasir Gudang.

Ismail said the total investments by Indonesian companies in Iskandar Malaysia now stood at less than RM1 billion.

The chief executive said that Iskandar Malaysia had from November 2006 until the end of 2012, attracted cumulative committed investments of RM106.31 billion or about US$34 billion, of which about 41 per cent have been realised to date.

These included the completion of catalytic projects in the various promoted sectors such as Johor Premium Outlets in Kulaijaya, Educity in Nusajaya, Legoland Malaysia and Puteri Harbour Family Indoor Theme Park.

Some 64 per cent of these investments came from Malaysian investors, with the rest contributed by non-Malaysian investors, he said.