Johor state govt proposes Iskandar Malaysia be designated special economic zone with Singapore
The construction site of Johor Bahru's RTS Link near JB Sentral KTM railway station. ST PHOTO: GAVIN FOO Zunaira Saieed Malaysia Correspondent UPDATED 38 MINS AGO FacebookX KUALA LUMPUR - Johor’s state government has proposed that its business hub Iskandar Malaysia be designated as the special economic zone being planned between Singapore and Malaysia, The Straits Times has learnt.
It is not known, though, if Malaysia’s federal government agrees and will discuss the proposal with Singapore. A memorandum of understanding on the Johor-Singapore Special Economic Zone (SEZ) is expected to be inked by both sides on Jan 11.
“The Iskandar development region is ready-made to be the SEZ,” said Mr Lee Ting Han, chairman of Johor’s state investment, trade and consumer affairs committee.
Iskandar, which was conceptualised as an economic growth corridor in 2006, spans 2,217 sq km across southern Johor, an area three times the size of Singapore. It includes Johor’s heavy industrial zone Pasir Gudang, its capital city Johor Bahru, Iskandar Puteri, Kulai, Sedenak and part of Pontian town.
It attracted foreign investments to the tune of RM153.4 billion (S$44 billion) between 2006 and 2022 in various industries ranging from electrical and electronics and data centre to pharmaceutical and food processing. Singapore is the second-largest foreign investor in Iskandar after China, with RM33 billion committed as at June 2023.
Investment slowed in recent years due to pandemic border restrictions, contributing to a property glut. Total investment in Iskandar since its inception was forecast to reach more than RM400 billion in 2023, said Mr Lee.
According to him, Iskandar has the necessary infrastructure and facilities, such as highways, ports, utilities supply, townships and educational institutions, that would be suitable for the SEZ.
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“The Iskandar growth corridor would be a good start, as the area encompasses planned integrated development Ibrahim Technopolis in Sedenak town, the heavy industrial area in Pasir Gudang and the proposed special financial zone in Forest City,” he told The Straits Times.
The SEZ, which was officially announced in October 2023 during Malaysian Prime Minister Anwar Ibrahim’s visit to Singapore for the 10th Malaysia-Singapore Leaders’ Retreat, is an integrated zone for business and investment that is aimed at easing the movement of people and goods across the border between the two countries.
Mr Lee told ST that Johor’s proposal has been submitted to the federal government’s Ministry of Economy, which is in charge of Malaysia’s economic development. But it is not known if the proposal will form part of the SEZ plans being discussed with Singapore.
The Ministry of Economy did not respond to ST’s queries.
According to an official source, Malaysia is hoping to attract nine sectors to the SEZ, namely logistics, energy, manufacturing, tourism, healthcare, education, financial services, business services and digital economy.
The definitive agreement with details of the SEZ, including its physical location, is expected to be signed in the fourth quarter of 2024, said Mr Lee.
On the face of it, both the Iskandar project and the upcoming SEZ have similar objectives and structures – they are both Singapore-Malaysia plans that aim to boost economic activity in the region. For example, ministers on both sides have discussed developments in Iskandar since 2007, when the Malaysia-Singapore Joint Ministerial Committee for Iskandar Malaysia (JMCIM) was set up.
Yup! The SEZ official announcement next week will be the strong push for companies like UEMS. I am glad that today UEMS stay stable (not hike too much nor go down below 0.99), and by observing the volume and value its generally those small fish panickily sold off their share to secure a small gain, when they see the Wed hike doesn't happen today. So the big one stay and hold for next hike when our Sultan Johor gives the signal. Singapore nowadays is pack with lots of ultra rich China migrant and causing rise of cost for the middle class (generally foreign expat), SEZ will be where they move.
Johor state government proposing Iskandar Malaysia be designated special economic zone with Singapore
Published Fri, Jan 05, 2024 · 2:42 pm Updated Fri, Jan 05, 2024 · 8:45 pm
The construction site of Johor Bahru's RTS Link near Sultan Iskandar CIQ and JB Sentral KTM railway station. PHOTO: GAVIN FOO, ST Singapore-Johor Economic Ties
JOHOR’S state government has proposed that its business hub Iskandar Malaysia be designated as the special economic zone being planned between Singapore and Malaysia, The Straits Times has learnt.
It is not known though if Malaysia’s federal government agrees and will discuss the proposal with Singapore. A memorandum of understanding on the Johor-Singapore Special Economic Zone (SEZ) is expected to be inked by both sides on Jan 11.
The Iskandar development region is ready-made to be the SEZ,” said Lee Ting Han, chairman of Johor’s state investment, trade and consumer affairs committee.
Iskandar, which was conceptualised as an economic growth corridor in 2006, spans 2,217 sq km across southern Johor, an area three times the size of Singapore. It includes Johor’s heavy industrial zone Pasir Gudang, its capital city Johor Bahru, Iskandar Puteri, Kulai, Sedenak and part of Pontian town.
It attracted foreign investments to the tune of RM153.4 billion (S$44 billion) between 2006 and 2022 in various industries ranging from electrical and electronics and data centres to pharmaceuticals and food processing. Singapore is the second-largest foreign investor in Iskandar after China, with RM33 billion committed as at June 2023.
Investment slowed in recent years due to pandemic border restrictions, contributing to a property glut. Total investments in Iskandar since its inception were forecast to reach more than RM400 billion in 2023, said Lee.
An SEZ with Johor could be a game changer
He said Iskandar has the necessary infrastructure and facilities such as highways, ports, utilities supply, townships as well as educational institutions that would be suitable for the SEZ.
“The Iskandar growth corridor would be a good start, as the area encompasses planned integrated development Ibrahim Technopolis at Sedenak town, the heavy industrial area at Pasir Gudang and the proposed special financial zone in Forest City,” he told The Straits Times.
The SEZ, which was officially announced in October 2023 during Malaysian Prime Minister Anwar Ibrahim’s visit to Singapore for the 10th Malaysia-Singapore Leaders’ retreat, is an integrated zone for business and investment that is aimed at easing the movement of people and goods across the border between the two countries.
Lee told ST that Johor’s proposal has been submitted to the federal government’s Ministry of Economy, which is in charge of Malaysia’s economic development. But it is not known if the proposal will form part of the SEZ plans being discussed with Singapore.
The Ministry of Economy did not respond to ST’s queries.
According to an official source, Malaysia is hoping to attract nine sectors to the SEZ, namely logistics, energy, manufacturing, tourism, healthcare, education, financial services, business services and digital economy.
The definitive agreement with details of the SEZ, including its physical location, is expected to be signed in the fourth quarter of 2024, said Lee.
On the face of it, both the Iskandar project and the upcoming SEZ have similar objectives and structures – they are both Singapore-Malaysia plans that aim to boost economic activity in the region. For example, ministers on both sides have discussed developments in Iskandar since 2007, when the Malaysia-Singapore Joint Ministerial Committee for Iskandar Malaysia (JMCIM) was set up.
However, analysts say the SEZ will be a step-up from Iskandar. Singapore’s Prime Minister Lee Hsien Loong said in October 2023 that the SEZ should enhance the ecosystem of the Iskandar development region.
Maybank Investment Bank said in its research note dated Dec 16 that the SEZ will bring in more investments, especially from global companies that want to co-locate in both Singapore and Johor. It added that there will be “new infrastructure developments to support the higher economic activities ahead”.
Johor’s Lee Ting Han said the JMCIM currently covers policy-based matters for immigration, industrial cooperation, tourism and environment between both countries, while the SEZ will be more focused on economic matters.
In particular, the SEZ is expected to ease movement of people and goods across the congested Singapore-Johor border, one of the world’s busiest land crossings.
“The SEZ will also include special treatment for professionals, managers, executives and technicians to obtain the necessary visa at the one-stop investment facilitation centre without much hassle,” he said. He expects to also see investment incentives such as tax breaks and improved trade procedures and custom processes for businesses in the SEZ.
Iskandar Puteri stands a good chance as location for Johor-Singapore special economic zone, says Maybank IB By Surin Murugiah / theedgemalaysia.com 05 Jan 2024, 10:26 am
I lived in Iskandar Puteri Johor I witnessed the On going developements ...couldnt agree more !!!!!9
Forest City, Iskandar Puteri, Johor. Maybank Investment Bank said Forest City, which has been identified as a special financial zone and a potential high-speed rail station in Iskandar Puteri, should continue to attract buying interest in the region.
KUALA LUMPUR (Jan 5): Maybank Investment Bank has maintained its “neutral” rating of the property sector, and said that Iskandar Puteri stands a good chance as a location for the Johor-Singapore special economic zone (JSSEZ).
In a note on Thursday, the research house said while land cost in the Iskandar Puteri area is higher as compared to Sedenak, it is more mature and closer to Singapore in terms of distance.
It said even without the JSSEZ, properties in Iskandar Puteri would still be supported by resilient local demand, especially from Malaysians who are working in Singapore, and foreign investments.
Maybank IB said Forest City, which has been identified as a special financial zone and a potential high-speed rail (HSR) station in Iskandar Puteri, should continue to attract buying interest in the region.
The research house said details of the JSSEZ are due next week, and would be the sector’s focus in the first half of 2024.
“Based on our observations, the JSSEZ is likely to be located in the Sedenak or Iskandar Puteri areas.
“For property sector exposure in Johor, we like S P Setia Bhd (with a 'buy' call) for its sizeable land bank there (2,150 acres or 870.07 hectares), undemanding valuation (0.3 times price-to-book value or P/BV), and de-gearing exercise via land sale,” it said.
Maybank IB said the property sector offers trading opportunities in the first half of 2024, with the thematics being the JSSEZ, Bayan Lepas Light Rail Transit (LRT) alignment, and potential revival of the HSR.
“Our stock calls, however, are more fundamental-based. We have a 'buy' rating for S P Setia.
“Apart from its Johor exposure (2,150 acres or 15% of total gross development value), we like S P Setia for its cheap valuation (0.3 times P/BV versus the industry average of 0.6 times and UEM Sunrise Bhd's 0.8 times) and diversified product range.
“S P Setia is actively reducing its debt level by disposing of non-core land bank. Its earnings growth in the financial year ending Dec 31, 2024 will be driven by three land sales in Semenyih, Setia Alam and Johor respectively,” it said.
Johor moots Iskandar Malaysia for special economic zone with S’pore State executive councillor Lee Ting Han says a proposal was submitted to the economy ministry, describing the development corridor as ‘ready-made to be the SEZ’.
The Iskandar development corridor extends from Johor Bahru to Iskandar Puteri, Kulai and parts of Pontian. (Wikipedia pic) PETALING JAYA: The Johor state government has submitted an official proposal for the Iskandar Malaysia region to be designated as the Johor-Singapore special economic zone.
State executive councillor Lee Ting Han confirmed that the proposal had been submitted to the economy ministry, the Straits Times reported in Singapore. He said Iskandar Malaysia was “ready-made to be the SEZ”.
Stay up-to-date by following FMT's Telegram channel Lee, who is responsible for investment, trade and consumer affairs, said Iskandar Malaysia has the infrastructure and facilities needed for the SEZ, including highways, ports, townships and education institutions.
Malaysia and Singapore agreed in July to create a special task force to study the establishment of a Johor-Singapore SEZ, which was expected to be based in the Iskandar Malaysia region.
Just yesterday, Johor menteri besar Onn Hafiz Ghazi met with Singaporean investors to get views and feedback on the SEZ.
On Jan 14, the prime ministers of the two countries are expected to sign an agreement on setting up the zone.
Lee said: “The Iskandar growth corridor would be a good start, as the area encompasses the planned integrated development of Ibrahim Technopolis in Sedenak town, the heavy industrial area in Pasir Gudang, and the proposed special financial zone in Forest City”, the Straits Times reported.
He said the Iskandar development corridor, which extends from state capital Johor Bahru to Iskandar Puteri, Kulai and parts of Pontian, was slated to attract RM400 billion in investments from its inception up till 2023.
However, this was affected by the outbreak of Covid-19 and the ensuing travel restrictions, which had a hand in property glut in the region.
Lee said an agreement outlining the SEZ’s details is expected to be signed in the fourth quarter of this year.
Iskandar Malaysia, previously known as the Iskandar Development Region and South Johor Economic Region, was established in 2006.
In August 2022, then economic affairs minister Mustapa Mohamed said the corridor recorded a total of RM368 billion in committed investments from 2006 till June 2022, of which RM219 billion had been “realised”.
After China, Singapore is the second-largest foreign investor with RM33 billion in investments committed as of June 2023, involving sectors like manufacturing, healthcare, education, business services and industrial estate development.
Straits Times quoted a government source as saying Malaysia is aiming to attract investments in nine particular sectors, namely energy, tourism, manufacturing, logistics, health, financial services, education, digital economy and business services.
Lee said the SEZ would ease the movement of people and goods across the congested Causeway, with special treatment provided for professionals, managers, executives and technicians to get the necessary visas at a one-stop centre.
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凯,IMHO. 1651 is lower risk and less speculation than this 5148. If you think that high risk high gain is the one, then yes you may switch counter. Otherwise, 1651 may not be a bad choice to hold for investment despite this bb is slower than other counter like 5148. Your careful consideration is in challenge liao. 0.79-1.03=30%. Not bad for this ROI in just a few months. My2c.
Good morning guys. Well, wait for 15Jan2024 ba. Sg land is limited. JS SEZ is not a bad consideration for Sg to "expand" their "land" and use of SEZ facilities at a lower than Sg pricing. WinWin situation if MOU is reasonable and both sides agree to sign.
OTHERS UEM SUNRISE BERHAD ("UEM SUNRISE" OR "COMPANY") TERMINATION OF JOINT VENTURE AND SHAREHOLDERS' AGREEMENT BETWEEN UEM LAND BERHAD ("UEML"), A WHOLLY OWNED SUBSIDIARY OF UEM SUNRISE, INTELSEC SDN BHD ("INTELSEC"), A WHOLLY OWNED SUBSIDIARY OF TELEKOM MALAYSIA BERHAD ("TM") AND IIB PROPERTY SERVICES SDN BHD (FORMERLY KNOWN AS ISKANDAR INNOVATIONS SDN BHD) ("IIBPS"), A WHOLLY OWNED SUBSIDIARY OF ISKANDAR INVESTMENT BERHAD ("IIB")
Go fak yrself. This market is overbought across the board. Come back when it makes good gostan. A good gostan for uems is around 0.94. Understand? Good boy!
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
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