From left: Khazanah Nasional Bhd director investments Abdul Farid Alias, Pharmaniaga Bhd MD Mohamad Abdullah, Zerin Properties CEO Previndran Singhe, UEM World Group MD Datuk Ahmad Pardas Senin, Opus International Group plc group MD Suhaimi Halim and UEM Land Sdn Bhd MD Wan Abdullah Wan Ibrahim

JOHOR BARU: Incentives are being worked out to lure foreign and local investors to participate in the mega development in South Johor. 

Speaking at the launch of Nusajaya yesterday, Prime Minister Datuk Seri Abdullah Ahmad Badawi said that with superb infrastructure in place, the incentive package to be announced possibly next month would be better, if not equal, the offerings of global centres like Dubai, Shenzhen and even Bangalore. 

Khazanah Nasional Bhd managing director Datuk Azman Mokhtar said various Government and private agencies were working on the incentive package. 

”They (incentives) offer not just flexibility but would be tailored to suit investors’ needs and take into account the changing times,” Azman said. 

The Iskandar Development Region (IDR), which has Nusajaya as a key component, would be the biggest development cluster in South-East Asia. 

Nusajaya covers 9,712ha and would be developed over five decades. 

It would encompass medical and educational cities, the Johor State New Administrative Centre, the Puteri Harbour Waterfront precinct, a logistics hub, international destination resort, and residential components. 

Azman said there had been some success in bringing local and foreign investors to the IDR. 

“A lot is happening and we are on track, (most importantly) the momentum is there,” he said. 

Azman is confident the IDR would continue to attract local and foreign investors as there was “enough liquidity” in the world but the issue was being able to provide a conducive environment. 

“Our challenge now would be in the implementation,” he said. 

On the theme parks to be built in the IDR, Azman said talks were being held with various parties, some of which were big names in that business. He declined to elaborate. 

Yesterday, the IDR advisory panel held its inaugural meeting, co-chaired by Abdullah and Johor Mentri Besar Datuk Abdul Ghani Othman. 

On outgoing Pos Malaysia Bhd chief executive officer Datuk Ikmal Hijaz Hashim’s appointment as CEO of Iskandar Regional Development Authority, Azman said: “We wanted someone who is business friendly and has sound knowledge of the property sector. Under Ikmal’s leadership, Pos Malaysia has scaled the heights.”

Source : The Star 24/02/2007