Singapore commerce group sets up Iskandar-specific portal

KUALA LUMPUR, Nov 20 — As Singaporean businesses continue to look to set up shop in Johor’s Iskandar Development Region, a commerce group has now set up a portal where companies can share experiences and generate business opportunities.

Singapore’s Straits Times reported that the Singapore Chinese Chamber of Commerce and Industry (SCCCI) launched the Iskandar Network@SCCCI website yesterday as a resource of information for firms that are already set up there, as well as those interested in doing so.

“This network can also be a channel to provide constructive feedback to government authorities,” SCCCI president Thomas Chua said.

He said among the issues faced by investors are a stable workforce and the hike in toll fees at both exit points.

MTQ Corporation group chief executive officer Kuah Boon Wee said the portal would also be an ideal platform to give feedback and learn from the experiences of others.

Malaysia’s state news agency Bernama reported last month that Iskandar Malaysia has secured investments worth RM10 billion in the third quarter of this year, bringing the total cumulative committed investments since its inception in 2006 until September 30 this year to RM156.35 billion.

According to the ST report, manufacturing was the top of the list at RM50.97 billion, with residential properties accounting for RM38.59 billion, retail or mixed developments RM24.01 billion and utilities RM12.64 billion.

Of the total cumulative committed investments, the Bernama report said 63 per cent (RM98.85 billion) was domestic investments, while the remainder (RM57.49 billion) was from foreign investments.

The top five countries with the highest investments in Iskandar Malaysia from January to September were Singapore, the US, Spain, Japan and China, it added.

So far, 49 per cent or RM77.17 billion of the committed investments has been realised.

Source: http://www.themalaymailonline.com/malaysia/article/singapore-commerce-group-sets-up-iskandar-specific-portal

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