Committed investments in Iskandar Malaysia reach RM76bil

KUALA LUMPUR: Committed investments in Iskandar Malaysia have reached RM76 billion as of the first half of this year, with 40 per cent or RM30 billion, having been realised, said HwangDBS Vickers Research.

The research house said 59 per cent of the committed investments are from foreign investors. HwangDBS Vickers said most of the infrastructure and catalytic developments in Iskandar Malaysia are on track for completion from 2012 onwards which would
help to draw the critical mass to Nusajaya.

The Coastal Highway is also on track for completion by year-end while Newcastle University is expected to commence enrollment by next month," it said in a research note today.

Meanwhile, infrastructure works for Medini are ongoing with Legoland still in the initial stages of construction.

"Legoland should meet its Sept 12 launch date with rides fabicated off-site. The Johor Premium Outlet may only open in phases in November this year, as the superstructure has not been completed," said HwangDBS Vickers.

The research house said its recent survey among fund managers revealed that 53 per cent and 41 per cent of them respectively, had a positive and neutral view of Iskandar Malaysia’s development progress.

"Sixty-four per cent indicated that they are keen to invest in Iskandar Malaysia-related stocks and properties within the next two years, with 72 per cent interested in landed properties," it added.

The research house also said that fund managers had rated infrastructure, security and government policies as the top three success factors required. --Bernama