S'pore largest foreign investor in Iskandar

By Mabel Tan

Singapore has maintained its position as the largest foreign investor in Iskandar Malaysia since December last year, even as the economic zone continues to attract new investments globally in 2012.

"Improved bilateral ties between Singapore and Malaysia will attract more Singaporean investments in Iskandar Malaysia," Ismail Ibrahim, chief executive of the Iskandar Regional Development Authority (IRDA), said in a speech yesterday. As at December 2011, the country recorded total cumulative investments of RM4.56 billion, with most companies venturing into the manufacturing and services sectors.

In the first half 2012, Iskandar Malaysia secured RM10.67 billion (S$4.24 b) of new committed investment, bringing total cumulative investments in the southern Malaysian economic region to a massive RM95.45 billion (S$37.87 b).

Overall, Asia accounted for 42 per cent of foreign capital inflow. This was followed by Europe (40 per cent), and the Middle East (14 per cent).

The strongest investment interest was drawn towards the manufacturing sector, which has collected a cumulative committed investment of RM32.71 billion (S$12.97 b) since 2006. In comparison, the property sector lodged a total of RM29.80 billion (S$11.82 b).

A majority (62 percent) of investments in Iskandar Malaysia, however, still came from domestic sources. Ibrahim said he is confident Iskandar Malaysia will continue to sustain a steady flow of both domestic and foreign investments at the back of a competitive economic environment.

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