Education Industry

Education industry is one of the 9 economic pillar identify by government, and one of the 12 National Key Economic Areas to drive Malaysia economic over the next decade.

Education is important to drive nation to higher income, propel economic growth and compete globally. With the widely available professional, highly skill human resource, then Iskandar Malaysia can hype, attract and retain foreign companies to invest and having business here in Iskandar Malaysia.

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Malaysia is investing heavily on education from both the private and public sectors. The largest portion of the country’s development expenditure goes to education and training, amounting to RM11.7 billion in 2010 or 22% of the government’s development expenditure.

Education Development

Education Development

r Malaysia Education Vision

Malaysia Education Vision

Forecast of student enrollment

Forecast of student enrollment

Source from IRDA

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Financial Service Industry

The financial services (FS) sector, accounting for nearly 12% of Malaysia GDP, continues to play an important role in driving Malaysia’s economic growth, both as strategic sector as well as a mobiliser of funds for investment. Over the next 10 years, the finance and insurance sector is expected to have continue strong growth of 8.3% and to continue an estimated 13% of GDP.

Leveraging on Malaysia’s strength in the Financial Service sector and its strategic location that straddles between two international financial hubs of Singapore and Kuala Lumpur, The Federal and state government Johor and private sector are in collaboration to accelerate and transform Iskandar Malaysia into a Financial Shared Services Outsourcing (FSSO) in the region.

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With the world finance restructuring and reshaping and continuous challenges in the global financial service industry, there will be more consolidation of banks, stringent credit policies and greater market trading supervision around the globe. There are trend of growing usage of online banking and investment online in Asia Pacific. Higher education, higher income and appetite for higher risk and diversied range of financial and investment products also creates a need for advisory assistant in wealth and financial products in the region. Foreign banks are also tapping into opportunities and growing wealth individuals in the emerging countries.

Globally, Islamic finance has been making strong inroads into the mainstream financial market, growing at around 20% on average annually over the last 10 years. Rising market awareness of Islamic finance products, national government initiatives and oil wealth have transformd Islamic finance into an industry of USD1 trillion in asset globally. I the next 10 years, the global Islamic finance industry is expected to quadruple to USD4 trillion.

The Iskandar Malaysia financial sector is identified and segmented into two major categories, namely the core financial products and the ancillary services related to financial institutions as following:

1. Financial Shared Services and Outsourcing

  • Business process operations
  • Back-office operations
  • Call centre
  • ICT support or data center
  • Wealth management
  • Human resource management
  • Processing and administrative support activities

2. Islamic banking and finance

  • Retail banking and wholesale banking
  • Asset management
  • Takaful and retakaful
  • Capital market

3. Financial and other professional services

  • Accounting and auditing
  • Tax consultancy
  • Legal consultancy
  • Market research
  • Management services
  • Advisory services
  • Corporate secretarial services

4. Offshore financial services

  • Offshore companies
  • Operational headquarters
  • Incubators

5. Knowledge development and research hub

  • Higher learning institution
  • Collaboration between financial institutions and regulators

There are many catalysts project, policies and infrastructure being built and done to provide the ideal environment for investors to invest in financial services Iskandar Malaysia as following:

1. Comprehensive : Integrated financial infrastructure

The development of Islamic finance in Malaysia has been supported by comprehensive regulatory framework and human capital development programme.

2. Capabilities : World-class workforce at affordable cost

Availability of multi-lingual and quality workforce at affordable cost with several local and foreign higher learning institutions including Islamic finance studies catering to Financial Services industry meeds.

3. Cost competitiveness : Affordable quality

Affordable quality from experienced talent pool, available real estate (ample land and building like Medini Business District, MSC Malaysia Cybercity and MSC Malaysia Cybercentre) and cost-effective facilities and amenities.

4. Catchment : Gateway to Asia and Middle East markets

Being in the center of large Muslim nations (Indonesia, west Asia), Malysia has sone market proximity to major Islamic financial institution and Shariah investors

5. Connectivity : World class and integrated network

World-class infrastructure with excellent multi-modal connectivity linking two international airports, four international seports, integrated rail and road networks, and ICT-high speed broadband highways supporting fast connectivity to global markets.

6. Conducive environment : Dynamic and stable

Aside from stable government, resilient economy, easy and competitive place for doing business, the Financial Services sector has strong government support, with varios fiscal and non-fiscal incentives.

Johor Islamic Finance

Johor Islamic Finance

Islamic Finance Hub

Islamic Finance Hub

Facts of Islamic Finance in Malaysia

Facts of Islamic Finance in Malaysia

Source from IRDA

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Healthcare Industry

Healthcare services is one of the rapidly growth industries in the world. PricecaterhouseCoopers in its HealthCast Report forecasts that health spending in the OECD countries is expected to triple to RM31 trillion (US10 trillion) by 2020 and to account for 16% of GDP in OECD countries. The Asia Pacific market comprises over a quarter (27%) of the total global healthcare market and its market share is expected to expand further to 40% of total global healthcare revenue by 2015, as forecasted by Frost & Sullivan.

There factors that contribute to the healthcare industry growth include:

  1. Income and demographic shifts have seen rising affluence fuelling demand for high quality healthcare including choice of healthcare destination (health tourism), and aging population catalyzing growth of nursing care and other supporting services.
  2. Urbanisation, fast-faced and stressful lifestyle has led to shifts in dietary habits and the rise in the incidence of so-called developed country illnesses, such as cardiovascular disease, diabetes and cancer driving the demand for specialists medical services such as heartscan and kidney dialysis centres.
  3. Higher incidence of lifestyle diseases, have resulted in new medical drugs and treatments, as well as traditional complementary medicine such as traditional Chinese, Malay and Indian origins and organic treatments and wellness.
  4. Greater consumer education has created awareness of nutrition, product safety, and other natural and organics approaches to health maintenance, including wellness services.

There are a lot of opportunities for healthcare Iskandar Malaysia:

  • Capture a share of the significant and high growth Asian market
  • Tap on Malaysia’s large private healthcare market
  • Competitive and high quality healthcare services
  • Multi-lingual and quality workforce at affordable cost
  • Establish regional COE (Centr Of Excellence) for healthcare research and innovation, with best in class facilities
  • Various fiscal and non-fiscal incentives

The healthcare priority sub-sectors can be segmented into six categories:

1. Specialist Medical Services

  •  Specialists in lifestyle disease   eg: dialysis centre, heartscan
  •  Dental specialist services
  • Ambulatory care services

2. Diagnostic Medical Services

  • Diagnostics (including pathology laboratories)
  • Telemedicine
  • Integrated lab services

3. R&D COE for healthcare

  • Healthcare R&D
  • Healthcare biotechnology
  • Education – medical learning institutions
  •  CRO  e.g. clinical trials

4. Traditional Complementary Medicine

  • Acupuncture
  • Ayurdevic
  • Homeopathy

5. Wellness Services

  • Rejuvenation centres
  • Retirement and nursing homes
  • Rehabilitation centres

6. Medical Equipment Manufacturing

  •  Cardiovascular devices
  •  Orthopaedic devices
  • In-vitro diagnostic devices
  • Electromedical equipment
  • Wound care products
  • Homecare products

Reason for investing in healthcare Iskandar Malaysia:

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1. Catchment : Large high growth markets in Asia

As Malaysia’s southern gateway, Iskandar Malaysia is emerging as a key regional hub to service neighbouring ASEAN, Asia Pacific and other global markets (Europe, Middle East and other western countries).

2. Connectivity : World-class, integrated and multi-modal

World-class infrastructure with excellence multi-modal connectivity linking international airports, international seaports, integrated road and rail networks and Information, Communication and Technology (ICT) high speed broadband highways, all supporting shorter traveling and communication times to regional and global markets.

3. Comprehensive : Integrated planning and development

Iskandar Malaysia’s policies are aligned to national healthcare strategies and will benefit from Malaysia’s health tourism initiatives, apart from excellent integration with other supporting metropolis amenities and facilities.

4. Capabilities : English-speaking, yet Asian multi-lingual talent pool

Emerging choice country of health tourism, with English-speaking wide talent pool of foreign and domestic trained medical professionals, yet multi-lingual and multi-cultural.

5. Cost Competitiveness : Affordability quality

Affordability quality from human capital, real estate (land and buildings) to cost-effective operations.

6. Conducive Environment : Dynamic and stable

Stable government, resilient economy, easy and competitive place for doing business, attractive environment for business and people to “Invest, Work, Live, and Play”, plans to transform Iskandar Malaysia into a vibrant metropolis.

Diagnostic Services Nexus

Diagnostic Services Nexus

Connectivity in Iskandar Malaysia

Connectivity in Iskandar Malaysia

World Population Projections

World Population Projections

Source from IRDA

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Creative Industry and Pinewood Studios

Creative industry is one of the Iskandar Malaysia nine economic pillars, taken the government’s aspiration to transform Malaysia into a high-income, value-added, innovation and diversify economy. The creative industry has potential to create huge multiplier effect to the economy. Instead of job creation for film and television production, it also contributes to business and jobs creation on other sectors like food and beverages, hospitality, building materials, and etc.

Creative industry primary sub-sectors including Film and TV, Animation and computer-generated imagery, Games, Online content, and Information and communication technology (ICT). Other sub-sectors creative industry including Advertising, Music, Publishing, Arts (performing, visual, crafts), Architecture/Interior design, and fashion design.

Iskandar Malaysia aims to leveraging on Malaysia existing creative industry capabilities to offer value-added production and post-production services, in effort to capture market share of international creative industry market.

The global entertainment and media (E&M) market is expected to grow at a moderate rate of 5.0% CAGR (compound annual growth rate) over 2009 to 2014, reaching an estimated RM5.3 trillion in 2014.

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Global creative multimedia companies who have set-up operations in the country include Oscar-winning special effects and animation studio, Rhythm & Hues and international video games developer, Codemasters Studios. The domestic multimedia industry has over 200 companies. Most of them mainly involve in post-production, special effects and CGI, animation, game development, e-learning, mobile and interactive content. In 2009, these companies create over 7,000 high-value added creative jobs with revenues over RM620 million been generated.

UK’s Pinewood Shepperton, one of the oldest and largest integrated TV and filming studios and famous for its James Bone movies is partnering Iskandar Malaysia Studios Sdn Bhd to jointly develop Pinewood Iskandar Malaysia Studio to operate an integrated media production studio facility in Nusajaya, Iskandar Malaysia.

The creative ecosystem from Pinewood Iskandar Malaysia Studios could lead to spin-off investments of close to RM1 billion and expected to create 3,000 direct jobs and additional 5,000 indirect jobs a year from local and foreign film and TV production.

Creative Industry Elements

Iskandar Malaysia offer a rich and diverse environments for the growth of creative industry

Creative Industry Global Outlook

Creative Industry Global Outlook

Source from IRDA

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Vantage Bay

VANTAGE BAY, an integrated medical hub development in Flagship A Johor Bahru with gross development value GDV of RM10 billion, has received the approval from the Iskandar Regional Development Authority.

Vantage Bay is a joint venture between the Johor royal family with 30% stake and Singaporean businessman Peter Lim with 70% with the name of Best Blend. Spanning 10 ha, the integrated medical hub project Vantage Bay is just few hundred meters away from Johor customs, immigration and quarantine (CIQ) at beside Foon Yew High School, Stulang Laut Johor Bahru.

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Vantage Bay development features a gated city with its own medical campus, residential apartments, hotels, convention centers, shopping malls and commercial offices, and will be fully completed in 10 years. Work on the project will begin at the end of 2013. The hospital and residential apartments are due to be completed in 2016 under its first phase

A 200-bed general hospital with specialist services in areas such as diabetes and ophthalmology will be built in the first stage.   Thomson Specialist Hospital, a 300-bed tertiary hospital within the medical hub, will be supported by Centres of Excellence (COE) focusing on fertility, diabetes, cardiology and oncology. It will also strike up a public-private partnership with a private wing where medical specialists from public hospitals can practise.

Singaporeans and Malaysians with CPF can use Medisave at proposed JB hospital.

The medical hub will be managed by Thomson International Health Services, the consultancy and management division of Singapore’s Thomson Medical Centre. Thomson’s senior nurses and doctors will be involved in running the medical hub.

Singaporeans and Malaysians with Central Provident Fund accounts will be able to utilise their Medisave reserves to pay for treatment at the new hospital as they will be able to obtain referrals from Thomson Medical Centre Singapore.

The second phase involves building the supporting facilities for the medical hub, such as serviced apartments, entertainment facilities and a shopping mall.

Vantage Bay project including the plan to set up a training school for nurses and medical technicians at the hospital, establish facilities for health promotion and disease prevention.

Besides healthcare facilities, Vintage Bay developments cater to other needs as well. Vantage Bay offers over a million square feet in office space, and plans to attract Singapore companies to relocate their office to JB for lower rentals and enjoy the incentives in Iskandar Malaysia. It will also boast one of the largest shopping malls in JB with an area of a million square feet.

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Johor Bahru City Centre Revitalisation and Rejuvenation

Johor Bahru city centre is set to transform itself into a vibrant place under the multi billion transformation project which is started last month. Menteri Besar Datuk Seri Mohamed Khaled Nordin said the rejuvenation and revitalization of Sungai Segget last month marked the start of the city centre transformation.

Menteri Besar Datuk Seri Mohamed Khaled Nordin said Regional Development Authority (IRDA) and Johor Bahru City Council  (MBJB) are assigned to monitor the implementation of the rejuvenation and revitalization project to make sure it could complete as scheduled.

“Johor Bahru could look forward to a new city centre when the transformation projected is completed in years to come”, Mohamed Khaled said at the opening of the JB Transformation Open Day.

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According to Mohamed Khaled, rehabilitation work of Sungai Segget into the new 1.2km waterway in the city would turn it into the “Gem of Johor Bahru City”, a new tourist attraction. Old and new elements would co-exist in the city centre under this transformation project. Conserving old buildings with significant historical and architectural elements is important in addition to the new developments.

Datuk Ismail Ibrahim, IRDA chief executive officer said the project would take about two years to rehabilitate and revitalize Sungai Segget into new landmark. Following of this rehabilitation of Sungai Segget is the opening of the river which flows along Jalan Wong Ah Fook in down town Johor Bahru.

Johor Bahru City Centre View

Johor bahru City Centre View

Johor Bahru City Centre Revitalisation and Rejuvenation

Johor Bahru City Centre Revitalisation and Rejuvenation – Jalan Wong Ah Fook Before and After

Iskandar Johor Bahru City Revitalisation Masterplan by IRDA

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RTS Rapid Transit System

JOHOR BARU: Talks between Malaysia and Singapore on the proposed Malaysia-Singapore Rapid Transit System (RTS) link are still ongoing.

Iskandar Region Transportation Corp chairman Datuk Abdul Latiff Bandi said in a joint-announcement on the project would be made once both parties had agreed to it.

“This issue is the prerogative of the two Governments, and we at the state level will give our full cooperation to the project,” he said after attending the Johor Baru Federation of Registered Taxi Association’s fifth AGM yesterday.

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He said the state government had identified the location of the RTS linking Johor Baru and Singapore but declined to give the exact location of the station here.

Abdul Latiff, who is also in charge of the Housing and Local Government executive committee, said it would be premature for the state government to announce the location, as it would be made by the Federal Government. “There is a one-year time frame to study the project, and whatever decision made by Malaysia and Singapore would benefit both countries,” he said.

Abdul Latiff said Johor, and in particular Iskandar Malaysia, would benefit from the project, as the link would improve accessibility and connectivity between the island-state and Johor Baru.

Meanwhile, Iskandar Regional Development Authority chief executive officer Datuk Ismail Ibrahim said that Malaysia and Singapore had a one-year time frame to make an announcement on the project.

The one-year time frame is from December 2012 to November 2013.

The RTS is targeted to be up and operating by 2018 with a co-located facility in Singapore and Johor Baru so that commuters need to clear immigration only once for each way of travel.

Source: The Star on 19 June 2013

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