Iskandar Malaysia project to go ahead as planned

The Iskandar Malaysia project will go ahead as planned, Malaysia’s High Commissioner to Singapore N Parameswaran said on Thursday.

Malaysian Prime Minister Abdullah Badawi’s poor showing in the recent general elections has left investors concerned about his pet project – Iskandar Malaysia, which was launched in late 2006.

However, the High Commissioner noted that the project – a special economic zone three times the size of Singapore – will have the support of any political party that comes into power.

“There should not be any concern that any changes (that) take place in Malaysia… will… affect the on-going developments in Iskandar,” he said.

About 530 square metres of the Southern Industrial and Logistics Clusters (SiLC) at Iskandar Malaysia have been launched. According to developer UEM Land, more than 95 per cent were taken up by Singapore-based companies.

Managing director of UEM Land, Wan Abdullah Wan Ibrahim, said: “The opportunity is the price, the price is extremely low.”

Phase one of SiLC was completed in April 2008.

Since its launch in 2006, Iskandar Malaysia has attracted some 33 billion ringgit worth of investment. – CNA/ac

Source : Channel NewsAsia – 5 Jun 2008

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