Iskandar Malaysia hits RM111.37b investments

Iskandar Malaysia has registered cumulative committed investments totalling RM111.37 billion from 2006 until March 31 this year.

This
was an increase of RM5.06 billion since end-December 2012, comprising
new investments received in the first quarter of 2013, Iskandar
Regional Development Authority (IRDA) said in a
statement today.

"Of
the total cumulative committed investments, RM44.82 billion or 40.2 per
cent represents investments that have been realised," it added.

IRDA
chief executive Datuk Ismail Ibrahim said:"The results for the first
quarter of 2013 showed that Iskandar Malaysia continues to receive
strong support and patronage from both local and foreign investors in
spurring its growth.

"This indicates the high level of
confidence that stakeholders have in the various initiatives that are
being implemented in the region."

Local investors accounted
for RM72.6 billion (64 per cent) of the cumulative committed
investments while the balance of RM38.8 billion (36 per cent) was
contributed by foreign investors.

Among the promoted sectors,
manufacturing recorded the highest cumulative committed investment at
RM35.33 billion, followed by petrochemicals and oleo-chemicals (RM5.95
billion) and logistics
(RM4.43 billion).

The tourism
sector registered RM2.23 billion, healthcare chalked up RM1.6 billion,
education (RM1.55 billion), financial services (RM0.6 billion) and
creative industries (RM0.4 billion).

Other sectors that
supported the growth of Iskandar Malaysia included property
development, in which the residential, retail and industrial segments
collectively contributed cumulative investments of RM40.42 billion as
at March 31, 2013.

This was followed by utilities (RM9.53
billion), government investment mainly in infrastructure and public
works (RM8.31 billion) and emerging technologies (RM1.03 billion).

Ismail
highlighted that several projects will be completed this year,
including the opening of Pinewood Iskandar Malaysia Studios in Medini
and Traders Hotel at Puteri Harbour.

"These developments will
help increase the value proposition of the region, and appeal to more
prospective investors to Iskandar Malaysia," he said.

"We are looking forward to more quality investments flowing into Iskandar Malaysia.

"This
is based on interests shown by potential investors from Indonesia,
China, India and Gulf Cooperation Council countries, especially in
education, healthcare and tourism sectors," he added.

He said
that Asia remained the key source of foreign investments into Iskandar
Malaysia, with Singapore and Japan being the top two Asian investors,
while other major international investors
included European Union countries and the United Arab Emirates.-- Bernama