Posts tagged Iskandar Malaysia
Iskandar Malaysia-based technology park aims to lead Malaysia into an advanced future as it signs another new investment and production deal.
Johor’s Senai Hi-Tech Park (SHTP) would be a “key driver” for high value technology industries and Malaysia’s aim to transform itself into an advanced, innovative nation, says Prime Minister Najib Razak.
PM Najib spoke yesterday at a signing ceremony for SHTP and Solexel (M) Sdn Bhd, a subsidiary of California-based solar cell manufacturer Solexel Inc. A new memorandum of understanding between the two will see an aggregate investment of RM2.8 billion (US$944 million) over the next five years, and create 2,300 jobs.
Solexel will manufacture crystalline silicone solar cells at a new 100-acre facility in SHTP’s Industrial Zone Phase 1, and is capable of producing one gigawatt of cells per year. The company will also conduct R&D operations and help create a local supply chain for chemicals used in solar photovoltaic (PV) cell and semiconductor manufacturing.
Senai Hi-Tech Park will be 1,000 acres total at completion, and is Malaysia’s second dedicated high technology zone after Kulim Hi-Tech Park in the country’s northwest. Kulim’s success at attracting international investment was the impetus for creating the SHTP project last year and the project’s developers are negotiating major deals with foreign investors.
Both parks aim to spur the local high-value economy and create employment for Malaysians in more advanced industries. Calling itself a ‘third-generation technology park’, SHTP is located next to the redeveloped Senai International Airport in Johor state’s Iskandar Malaysia special economic region, across the water from Singapore.
In a first-ever joint venture between the neighboring sovereign wealth funds, Singapore’s Temasek Holdings Pte Ltd and Malaysia’s Khazanah Nasional Bhd are planning RM30 billion (US$9.86 billion) worth of cross-border development projects in Singapore and the Iskandar Malaysia region.
Business Times reports a large portion of the money invested will be in Singapore, with Khazanah owning 60% of a new joint venture project called M+S Pte Ltd with a Gross Development Value (GDV) of RM27 billion ($8.87 billion). The development, in Marina South and Ophir Rochor, will be a mixed-use residential, office, retail and hotel complex of over 500,000 square meters in gross floor area.
On the Malaysian side, Khazanah and Temasek will be equal partners in a RM3 billion ($986 million) GDV project named Pulau Indah Ventures Sdn Bhd with a gross floor area of 1.37 million square meters starting in Johor’s Medini North and the Heritage Cluster at Medini Central. The project, in the vast Iskandar Malaysia development region bordering Singapore, will “build on the momentum” of the development’s existing and planned projects with commercial, retail, health and residential facilities, many of which Khazanah has played a part in since the beginnings of Iskandar in 2006.
The two government-controlled companies will work closely with established real estate development firms in both countries, like Malaysia’s UEM Land Holdings Bhd (Khazanah’s property arm) and Singapore’s Mapletree (part of Temasek’s portfolio) and CapitaLand.
source & article: Business Times
Cashed-up emirate Abu Dhabi will invest over RM18 billion (US$5.9 billion) in the Malaysian aluminum industry, building a new and advanced aluminum smelter for RM12.7 billion ($4.17 billion) and investing a further RM5.4 billion ($1.77 billion) developing downstream industries. Abu Dhabi’s Mubadala Development Company will form a joint venture corporation with Malaysia’s 1Malaysia Development Berhad (1MDB) to complete the projects.
Abu Dhabi has shown a lot of interest in Malaysia lately and this week’s announcement came as members of the emirate’s government and Royal Family visited to discuss potential new agreements. Malaysian Prime Minister Najib Razak said Abu Dhabi saw “abundant economic opportunities” in Malaysia’s Economic Transformation Programme (ETP) and that Crown Prince Sheik Mohamed Zayed Al-Nahyan had reiterated a commitment to invest in Malaysian projects.
Abu Dhabi is also cooperating with Malaysia on an oil block development in Sarawak, and Mubadala has invested RM1.2 billion ($394 million) in the Iskandar Malaysia project. Not to mention the 34-hectare Kuala Lumpur International Financial District (KLIFD), which is another Malaysia-Abu Dhabi joint venture costing around RM25 billion ($8.2 billion) to house the city’s financial services sector.
source & article: The Star Business
A new 400 bed, 280,000 sq ft hospital will be built in the Iskandar Malaysia development region in Johor, featuring “Centres of Excellence” including a heart centre, an aged care centre, cancer centre and a cosmetic and reconstructive centre, plus others. The facility will be a collaboration between specialist hospital operator KPJ Healthcare Bhd and Johor Land Bhd.
The Centre will be built in two phases beginning in 2012, with 150 beds proposed for the first phase. Cost per bed is estimated at around RM1000 (US$329). As with other medical facilities in the Johor region it is aimed at foreign patients (or ‘medical tourists’) as well as locals, promising to offer the highest standard of care in all areas of medicine.
Business Times reports KPJ has embarked on a series of new projects lately, investing between RM50-80 million ($16.4-26.3 million) per hospital for new specialist centres in Bandar Baru Klang, Muar, Pasir Gudang and Kuantan. It also purchased the Sibu Specialist Medical Centre and Sibu Geriatric Health and Nursing Centre in Sarawak in April. KPJ has identified geriatric care as a huge growth sector and has agreed to buy a 51% share of Australia’s Jeta Gardens Waterford Trust for RM19 million ($6.24 million).
The company’s total revenues for 2010 were RM1.65 billion ($542.3 million), up 13% from the previous year.
The Senai Hi-Tech Park, located in Johor’s Iskandar Malaysia economic zone, has scored another important project with the announcement of a RM200 million ($65.7 million) nanotechnology development center, the first of its kind in Malaysia.
The new complex, named NanoMalaysia, will be developed at Senai under a private-public partnership and should be completed within 12 months. NanoMalaysia Bhd is a commercial vehicle set up by the National Nanotechnology Directorate (NND), a unit of Malaysia’s Ministry of Science, Technology and Innovation (MOSTI).
Minister Dr. Maximus Ongkili announced the new project at the NanoMalaysia Summit and Expo 2011, saying it would be “a one-stop center for nano science and technology activities and provide a missing link between technology and market.”
NanoMalaysia is designed not only to provide a workplace for nanotechnology researchers, but is part of a plan to form other new companies through technology entrepreneurship incubators and assist downstream industries. It’s hoped the center will generate from RM100-150 million ($33-39 million) in business within two years, and together with five other nanotechnology research facilities in the country, produce commercially viable applications for three main product groups: aerogel, carbon nanotube and nanocatalyst.
source & article: The Star Business
The Iskandar Malaysia Special Economic Zone project is already benefiting the economy and people of Johor “profoundly”, said the state’s Menteri Besar (Chief Executive) Abdul Ghani Othman. Since Iskandar’s beginnings just five years ago, it has delivered to the region increased demand, higher wages, greater business opportunities and a higher standard of living.
Special attention from the federal and state governments has helped too. Under the Ninth Malaysia Plan (9MP) Johor state received RM6.83 billion (US$2.25 billion) in federal funds to improve infrastructure and other public amenities, while its current successor the Tenth Malaysia Plan (10MP) has promised another RM1.39 billion ($459.9 million) between now and 2015. The state government responded with RM313.33 million ($103.5 million) of its own in 2010.
Almost all the funds went towards improving economic efficiency, accessibility and connectivity. Highway improvements alone took advantage of Iskandar Malaysia’s location between Kuala Lumpur and Singapore, allowing it to attract big name and ‘prestige projects’ like the Legoland theme park. Ghani said the property sector in particular has seen a sharp increase in demand, restarting projects stalled after the financial crisis and creating higher-end development opportunities in locations like Danga Bay.
As another sign of its commitment, Johor state relocated its administrative functions to a new development at Kota Iskandar, Nusajaya City, in 2009. The federal government also located its local departments there as part of the Johor State New Administrative Centre (JSNAC), a 1.3 sq km development complete with public plazas, gardens and parks.
source & article: New Straits Times via CBC BNet
The CEO of the Iskandar Regional Development Authority (Irda), Ismail Ibrahim, said he was ‘glad’ at the level of knowledge and interest of Iskandar Malaysia in the European Union. Attending a meeting of the Asean-EU Business Council in Singapore, he said European investors were interested to hear which sectors were available to them and added that Irda will organize more investment roadshows to spread the message.
Irda would also arrange a tour of major sites in Iskandar Malaysia’s 2,217 sq km for locally-based European businesspeople. The special economic zone has attracted RM73 billion in investments so far, with foreign direct investment FDI already coming from EU members the United Kingdom, France, Spain and the Netherlands.
The day’s events also included a European Day Celebration luncheon for the EU’s 60th anniversary organized by the European Chamber of Commerce (EuroCham). 200 business leaders from Asean and the EU attended, along with guest of honor Malaysian International Trade and Industry Minister Mustapa Mohamed.
source & article: The Star Online
Drive north from Singapore across the Johor Causeway, into Malaysia’s second largest city Johor Bahru, and keep going. You’re now in Senai-Skudai, the heart of Iskandar Malaysia. Iskandar is the special economic region marked for rapid development as an Asian commercial hub and, like Guangdong did for Hong Kong and China, it wants to leverage its prime location and local skills base to fire the Malaysian economy over the coming decades. One development hoping to play a significant part in that progress is Senai Hi-Tech Park (SHTP).
Senai Hi-Tech Park, according to its developers, is “an integrated Science and Technology Park offering an ideal location, superb infrastructure with a service rich-environment”, matching Malaysia’s technological skills with innovative companies and research institutions from around the world. Part of the Senai Airport City development, SHTP will eventually form part of a vital technology and logistics hub connected almost instantly to major markets around the world.
At the moment it’s full more of promise and potential than activity, with Stage One of a three-stage project still under construction. But there’s an undeniable hum in the air and the Park has already signed on some major international investors: EQ Solar will build a US$500 million facility to manufacture monocrystalline and polycrystalline solar modules. MOX-Linde Gases will build an industrial gas manufacturing and separation plant, and South Korea’s STX Energy has launched a feasibility study into a solar cell facility. (more…)
CEO of Malaysia’s Iskandar Regional Development Authority (IRDA) Ismail Ibrahim says the Iskandar Malaysia development region can achieve its target of RM73 billion (US$24.6 billion) in new investments between January 2011 the end of 2015, despite additional challenges.
In fact it’s already ahead of projections, with RM69.48 billion in new investments by December 2010 beating the RM47 billion target. Add figures from this year and Iskandar Malaysia has brought in RM73.24 billion since the project’s genesis in November 2006. 59% are domestic investments and 41% from foreign sources, with 41% of the foreign pledges already spent.
Ismail said IRDA would focus on big regional investors like Japan, South Korea, China, India and Asean, rather than early targets Europe and the Middle East. He added the global investment climate was ever-changing, though, so there were “no hard and fast rules” for IRDA in its quest for foreign investment.
Main industries committed to Iskandar Malaysia are the manufacturing sector (RM28.25 bil/$9.5 bil), properties (RM24.26 bil/$8.17 bil), and government (RM6.28 bil/$2.1 bil). Smaller contributors were utilities and tourism. IRDA, in partnership with the government-backed Iskandar Investment Bhd (IIB) is chasing ‘quality investments’ in tune with Malaysia’s development ambitions for the 2,217 sq km special economic zone in Southern Johor. Industries of particular interest are electronics, healthcare, higher-end manufacturing, R&D and tourism.
source & article: The Star Online
Big things continue to happen for the Iskandar Malaysia economic zone near Singapore. Business Times reports Bio-XCell Sdn Bhd says it’s about to announce a new international investor for the zone’s biotechnology park, with another two lined up to join in the next couple of years.
Bio-XCell, which is at the center of the park’s development and its main promoter, is a joint venture between Malaysia’s Biotechnology Corp Sdn Bhd and UEM Land Holdings Bhd. The three prospective tenants helped secure extra funding from Maybank for the project and have even been named: India’s Biocon Ltd, France’s Metabolic Explorer and US-based Glycos Biotechnologies Inc.
Maybank’s new contribution is worth RM250 million (US$82.45 million) as a 12-year Islamic term facility, enabling the development’s first phase to be completed. The first phase’s total RM950 million ($314.45 million) cost will also be funded by foreign direct investment (FDI) and sale of shares to the public. About RM500 million worth of FDI has already been raised.
Iskandar Malaysia’s biotechnology park is a 29-hectare, 1.125 million sq ft space dedicated to making biotechnology a bigger contributor to Malaysia’s GDP, as well as harnessing the economic advantages of its location in the Johor Bahru growth corridor. The plan is to grow the park in three stages over six years. Bio-XCell’s definition of ‘biotechnology’ includes “biopharmaceutical, industrial technology and green chemical” industries not related to agriculture.
source & articles: Business Times