Watch them in 2014- Sultan Ibrahim Ibni Almarhum Sultan Iskandar By Risen Jayaseelan

by **Cals** Sun 29 Dec 2013, 23:46

Published: Saturday December 28, 2013 MYT 12:00:00 AM
Updated: Saturday December 28, 2013 MYT 1:13:07 PM
Watch them in 2014
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IT is generally going to be a challenging 2014 as the Government undertakes fiscal reforms to rein in on its budget deficit and address the shrinking trade surplus.
Under this scenario, Malaysia's corporate captains may need to re-look and up their game plans to ride out the tough times.
We present personalities we think are the likely movers and shakers of Malaysia's corporate scene. Some of them have made headlines this year and will continue to be watched. We also present the outlook of key sectors of the economy in this special edition.

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Royal touch: Sultan Ibrahim Ibni Almarhum Sultan Iskandar is passionate about the transport sector especially trains.
A pro-business Sultan
EVEN before the Sultan of Johor pulled off the RM4.5bil property deal with the Chinese this month, he had been displaying a certain business savvy.
At a chance meeting with the Sultan early this year, this writer learnt about how he was taking an interest in ensuring Johor Corp (JCorp) – the asset-rich but debt-laden state investment arm – had the right checks and balances in place.
Although proud of JCorp’s achievements in owning assets like KFC Holdings Bhd, plantation giant Kulim (M) Bhd and hospital chain KPJ Healthcare Bhd, it was under his leadership that JCorp refinanced its huge debt and bought back from Johorians the investment units of Dana Johor at RM1 apiece.
This was an old failed investment scheme by JCorp for Johorians that had seen its value significantly shrink over the years.
In that short meeting, the Sultan, who declined the request for a full interview, talked generally about how Johor should be looking to draw more foreign direct investment into the state, which, in turn, would bring about positive economic spin-offs for Johorians, such as jobs and contracts for small and medium enterprises or SMEs.
He was agreeable to be quoted on this: that he is “pro-business” and hopes to see Johor and Johorians prosper.
Clearly though, the Sultan is also keen to participate in business.
In 2012, it was reported that Singapore billionaire Peter Lim had teamed up with the Sultan of Johor to build a S$2bil (US$1.55bil) complex that would include a hospital, hotels, flats and entertainment outlets in Johor Baru.
This year, the pace of deals in Johor is gathering steam. And the Sultan made the headlines when it was disclosed that he had sold a parcel of prime land in Johor Baru to China-based Guangzhou R&F Properties Co Ltd for RM4.5bil.The price paid was a new record for Johor at RM890 per sq ft for the 47ha believed to be in the vicinity of the old Customs, Immigration and Quarantine Complex, which faces Singapore and hence holds much potential.
Aside from Singapore’s Peter, the Sultan is also working on ventures with Tan Sri Vincent Tan and Tan Sri Lim Kang Hoo.
The Sultan acquired a 20% stake in Berjaya Times Square Sdn Bhd.
In explaining the deal, the vendor - Berjaya Assets Bhd - made reference to the Sultan’s “stature and business acumen” as part of the justification for the discounted price.
Kang Hoo is already well-known as the man behind master developer Iskandar Waterfront Holdings Sdn Bhd (IWH), which, in turn, is a partnership between himself and the Johor state government.
Just this week, Kang Hoo’s IWH sold another piece of land to a Singapore party at a price that even topped what Guangzhou R&F Properties had paid.
Insiders say that the Sultan has a few able trusted advisers in the various sectors of business he is interested in.
Aside from property, the Sultan is also said to be very keen on oil and gas, power, shipping and transport.
The Sultan is evidently passionate about the transport sector and trains, in particular. Notably, the Sultan of Johor commandeered the last train out from the Tanjong Pagar railway station in Singapore before the historical station was closed.
He holds the record as the first ruler to obtain a Class 26 locomotive driving licence a few years ago.
It’s no surprise then that observers reckon that transport could be an area in which the Sultan of Johor would make headlines in 2014. The state is at the centre of two major rail projects – the last leg of the nationwide Electrified Double-Tracking Project (EDTP) from Gemas to Johor Baru and the high-speed rail link from Kuala Lumpur to Singapore. Johor constitutes the largest part of the latter.
Observers say the Sultan has already linked up with top Japanese companies that are keen to provide the technology for the high-speed train. Similarly, on the EDTP, the Sultan had reportedly travelled to China in 2012 to team up with a top player, namely, the state-owned China Railway 18th Construction Bureau Co Ltd (CR18G).
It has been reported that CR18G’s Malaysian partner is Dacing Engineering & Equipment Sdn Bhd, and checks show that it is owned by the Johor crown prince, Tunku Ismail Sultan Ibrahim, Datuk Seri Shafiq Abdullah and the late Datuk Seri Raja Ashman Shah Sultan Azlan Shah.
CR18G is part of China Railway Construction Company (CRCC), which, in turn, is one of the three short-listed Chinese companies that will be chosen as the main contractor for the Gemas to Johor Baru portion of the EDTP. CR18G’s projects under its belt include constructing what was known as the world’s highest railway system, which runs from China’s Xinjiang city to Lhasa in Tibet.
In 2012, CR18G was also awarded the prestigious fast-train project between Mecca and Madinah by King Abdullah of Saudi Arabia.
Johor will continue to be in the limelight in 2014 and don’t rule out the Sultan featuring in some of the state’s development. – By Risen Jayaseelan