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31 October2009

Malaysia: Iskandar upbeat over investment inflow

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The operator of Malaysia’s economic zone Iskandar Investment Bhd (IIB) expects to announce agreements on investments in Iskandar Malaysia over the next few months as there is growing interest in the economic zone from potential investors globally, reported local business daily the StarBiz.

IIB is an investment holding company working in close partnership with the Iskandar Regional Development Authority to attract investments to Iskandar Malaysia.

“This is testament that Malaysia is seriously competing in the global marketplace and meeting with ongoing success despite the prevailing economic situation,” said chairman Azman Mokthar, who is also managing director of Khazanah Nasional Bhd, the government’s investment arm.

Speaking at an agreement signing between Education Iskandar Sdn Bhd, Marlborough Overseas Ltd and M East Sdn Bhd here yesterday, Azman said to increase Iskandar’s profile as a “thriving, international urban centre”, efforts were being put in place to increase the overall accessibility of the special economic region.

This would be done via the building of new infrastructure such as highways and so on, he added.

Yesterday’s agreement will see the establishment of Marlborough College Malaysia in Iskandar, the country’s first economic growth corridor which was launched in 2006.

Education Iskandar is a subsidiary of IIB while M East is a special purpose vehicle set up to develop this project.

The setting up of the institution is also the first international expansion of the co-educational British boarding school.

Marlborough College Malaysia, to be opened by September 2012, is expected to create over 340 job opportunities for academic and non-academic staff with additional employment and business opportunities in the future.

The school will cater to students between the ages of five and 18.

“Education is a key pillar of growth for the region and our long-term objective is to create a world class education hub here in Iskandar Malaysia,” Azman said.

“Other institutions IIB is looking to bring in include skilled training institutions, international schools, research and development facilities and regional training centres.”

He declined to reveal the value of investment of the college, saying that “announcements would be made in due course”.


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