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SINGAPORE: The island republic has acknowledged that the South Johor Economic Region (SJER) may create competition between the two countries.
However, Singapore hopes its potential will further enhance existing synergies between the nations.
Singapore¡¦s Minister for Trade and Industry Lim Hng Kiang said there would be competition as many companies viewed the Johor-Singapore combination as a more competitive location for manufacturing and distribution activities than areas in China.
¡§Given our close geographical proximity, it is not surprising that more than half of Singapore¡¦s S$1.3bil (RM2.99bil) investment in Malaysia last year is located in Johor,¡¨ he told a seminar on Business Opportu- nities in Malaysia here yesterday.
¡§In fact, our companies are already looking at ways to create a win-win partnership in SJER projects.¡¨
International Trade and Industry Minister Datuk Seri Rafidah Aziz, who opened the one-day seminar, echoed similar sentiments and added that the Government was committed towards promoting Johor as an economic hub.
¡§We are filling in the blanks in the SJER at the moment,¡¨ she told some 1,200 seminar participants from various sectors.
SJER Provides Ample Opportunities For Investment, Says Rafidah
Jackson Sawatan
Aug 29 (Bernama) -- The multi-billion ringgit South Johor Economic Region (SJER) project will provide ample opportunities for investment not only to Malaysian companies but also those from neighbouring Singapore.
Both Malaysian International Trade and Industry Minister Datuk Seri Rafidah Aziz and her Singaporean counterpart Lim Hng Kiang agreed that although in certain areas Johor and Singapore are in competition with one another, there are also sectors where both sides could collaborate.
"Singapore companies are welcome to invest in the Multimedia Super Corridor (MSC) which has now been extended to South Johor and to the Kulim High-Tech Park in the north," Rafidah said at the annual seminar on business opportunities in Malaysia here today.
The RM15 billion SJER project, located on a 1,500-square kilometre site, is targeted to be the catalyst for the southern Johor region's economic growth. It covers areas from Johor Baharu, Pasir Gudang, Jeram Mukim, Serikat Mukim to Kulai.
"We've outlined what we are going to do with SJER, so the filling in the blanks is being done right now. I am sure there'll be a special exercise to promote this region to Singapore companies. This will be done," Rafidah said.
Lim acknowledged the potential of the SJER, saying it was a plan to transform Johor into an engine of growth that would attract foreign investments and drive Malaysia's development much in the way Shenzhen and Hong Kong boosted China's economy.
"There will, of course, be an element of competition between Johor and Singapore, but we should also not forget the potential SJER has in augmenting the existing synergy between Singapore and Johor," he said.
Lim said that given its geographical proximity, it was not surprising that more than half of Singapore's S$1.3 billion (RM3 billion) investments in Malaysia in 2005 were located in Johor.
"In fact, many companies viewed the Johor-Singapore combination as the most competitive location for manufacturing and distribution activities, more so than even locations in China. The SJER will only serve to strengthen and enhance this winning combination," he said.
Singapore companies were already looking at ways to create a win-win partnership in the SJER project.
One notable example, said Lim, was the Tanah Sutera Development Sdn Bhd, a consortium of prominent Malaysian and Singaporean companies, including Lee Rubber Co Pte Ltd, Pelangi Bhd, Keppel Land Ltd and CapitaLand Ltd.
The consortium is developing the 130-hectare Taman Sutera and the 404-hectare Taman Sutera Utama, both within the SJER.
Rafidah also said that the continued growth of the Malaysian economy with expansion expected in all sectors, would continue to provide new opportunities for investment.
Last year, 2,233 projects were implemented, with investments from Singapore totalling US$4.2 billion.
In the first seven months of this year, 64 projects with Singaporean interests were approved in the manufacturing sector with a total investment of US$111.4 million, concentrated in products such as plastic, fabricated metal, electronics and electrical, chemicals and non-metallic minerals.
Looking at the snail pace of things developing on the SJER play, I personally feel funding is the main issues. And at the same time Khazanah which has been entrusted with the leading role is taking a calculative approach in order not to over sale the theme and create hot air in the process.
Base on my simple observation, the SJER can be divided into 2 main area of beneficiaries, that is asset located at Gelang Patah & land around JB area.
The Gelang Patah is where all the mega plans or mega project will take place because of it close access to second link. Whereas the JB and land bordering it is more toward the property development project.
There will be great motivation to kick start something in Gelang Patah & Nusajaya to create a buzz. This is so because anything that goes into Gelang Patah & Nusajaya, Khazanah will be the main beneficiaries through it listed entities that is UEM.
As stock investor our risk is in choosing the stock that gonna give us the best return and at the same time would provide limited down side incase our optimisim worn out.
With that I am putting my money on UEMWRLD. On technical side of the chartist I will live it to the expert.
:s23:
____________________ A clear conscience is absolutely needed, for in these heady times there are no easy choices to make.
