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Old June 25th, 2008, 07:56 AM   #361
rizalhakim
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KFH tambah pelaburan AS$100j
Oleh Nor Liza Ahmad


KERJASAMA PELABURAN: Salman (kanan) bertukar dokumen dengan Naji sambil diperhatikan Pengurus Besar Path Solutions, Rohana Abdul Munim dan Mohamed Iqbal pada majlis memeterai perjanjian antara KFH Malaysia dan Path Solutions di Kuala Lumpur, semalam.



Syarikat komited teruskan penglibatan dalam pembangunan hartanah di negara ini

KUWAIT Finance House Malaysia Bhd (KFH Malaysia) memperuntukkan tambahan AS$100 juta bagi mengembangkan pelaburannya dalam sektor hartanah di Malaysia.

Pengarah Urusannya, Datuk K Salman Younis, berkata KFH Malaysia komited untuk meneruskan pelaburannya dalam projek hartanah di negara ini termasuk di Node 1 Iskandar Malaysia di sebalik kenaikan kos dalam sektor itu.



Beliau berkata, bank itu juga sedang meninjau peluang untuk melabur dalam projek strategik di pembangunan Wilayah Ekonomi Koridor Utara (NCER).

"Kami akan terus mengembangkan operasi di Malaysia dan akan membawa masuk lebih banyak modal ke negara ini," katanya kepada media selepas majlis memeterai perjanjian antara KFH Malaysia dan Path Solutions di Kuala Lumpur, semalam.

Pada majlis itu, Salman mewakili KFH Malaysia, manakala Path Solutions oleh Presidennya, Naji Moukadam.

KFH Malaysia, yang beroperasi sejak tiga tahun lalu di Malaysia, terbabit dalam pelbagai projek hartanah termasuk menubuhkan dana pelaburan bernilai kira-kira AS$330 juta bagi pembangunan hartanah di Node 1 Iskandar Malaysia.

Mengenai perjanjian antara KFH Malaysia dan Path Solutions, Salman berkata di bawah perjanjian itu, Path Solutions akan membekalkan penyelesaian perbendaharaan iMAL*IslamicTreasury kepada KFH Malaysia.

Penyelesaian itu, katanya akan meningkatkan lagi keupayaan perkhidmatan perbankan Islam yang ditawarkan bank itu.

Sementara itu, Naji berkata, kerjasama Path Solutions dengan KFH Malaysia menjadi pembuka jalan kepada syarikat itu untuk mengembangkan operasinya di Malaysia.

Path Solutions yang beribu pejabat di Kuwait turut membekalkan penyelesaian sama bagi operasi KFH di Kuwait dan Bahrain.

Beliau berkata, syarikat itu juga dalam rundingan akhir dengan dua bank tempatan dan asing bagi membekalkan penyelesaian berkenaan.

Path Solutions komited untuk memanfaatkan kepakaran dan pengetahuannya dalam penyelesaian serta teknologi terkini kepada industri perbankan Islam di Malaysia, katanya.
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Old June 25th, 2008, 10:15 AM   #362
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so any news? i hope it wont be another PGCC

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Old June 25th, 2008, 10:53 AM   #363
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wow! nice! reminds me of dubai!
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Old June 25th, 2008, 03:32 PM   #364
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thought will be launch in 2009?
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Old June 26th, 2008, 03:37 AM   #365
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June 25, 2008 16:42 PM

Iskandar Malaysia Attracts Investments Of RM33 Bln


KUALA LUMPUR, June 25 (Bernama) -- The Iskandar Regional Development Authority (IRDA) has to date registered a total of RM33 billion in investments or some 70 percent of the RM47 billion needed for the development of the Iskandar Malaysia economic zone under the Ninth Malaysia Plan, Minister in the Prime Minister's Department Senator Tan Sri Amirsham A. Aziz said.

He said the amount came from the contract agreements and not merely memoranda of understanding signed between IDRA and the investors.

Among the main investors are Kuwait Finance House, Mubadala Development Company and Millennium Development Company who have invested in the financial, real estate, tourism and recreational sectors of the growth zone, Amirsham said during a Question and Answer session at the Dewan Rakyat today.

He was replying to a question from Dr Mohd Puad Zarkashi (BN-Batu Pahat) on the investments received by Iskandar Malaysia.

Amirsham also explained that the government had only contributed RM4.3 billion to finance the infrastructure projects in the region.

He said the amount of investments in Iskandar Malaysia was projected to be RM73 billion during the 10th Malaysia Plan, RM170 billion in 11MP and RM155 billion in 12MP.

From the time it was launched in November 2006, he said the region has achieved commendable performance with various projects completed under the first phase of the Nusajaya development programme including the new state government administrative centre, as well as several commercial, recreational and residential properties.

Projects under the second phase including the development of a transportation hub and ferry terminal are ongoing, he said.

Several infrastructure pojects like new roads have been also completed while the security aspect in the area has been improved with provision made to add the number of police force to prevent crimes in the area, he added.

-- BERNAMA
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Old June 26th, 2008, 04:16 AM   #366
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thought will be launch in 2009?
next year huh? anyway hopefully SP Setia wont facing anymore big problem next year.
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Old June 26th, 2008, 05:20 AM   #367
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Dewan Rakyat: 70pc Iskandar target met
By : Eileen Ng, Joseph Sipalan, Irdiani Mohd Salleh and Ili Liyana Mokhtar

THE Iskandar Malaysia development corridor in Johor has attracted nearly RM33 billion in investments, Minister in the Prime Minister's Department senator Datuk Amirsham A. Aziz said in the Dewan Rakyat yesterday.

This was 70 per cent of the target of RM47 billion, he added.

"This figure is derived from contractual agreements and not memoranda of understanding (MoU), between the IRDA (Iskandar Regional Development Authority) and investors," he said.

Amirsham was replying to questions from Dr Mohd Puad Zarkashi (BN-Batu Pahat), Tony Pua (DAP-Petaling Jaya Utara), Dr Dzulkefly Ahmad (Pas-Kuala Selangor), Khalid Abdul Samad (Pas-Shah Alam), Datuk Nur Jazlan Mohamed (BN-Pulai) and Hamim Samuri (BN-Ledang).

Amirsham said six companies from the United Arab Emirates, Kuwait, Saudi Arabia and Lebanon had invested in Iskandar Malaysia.

They include Kuwait Finance House, Aldar Properties PJSC, Mubadala Development Company, Millennium Development Company, Damac and Limitless Dubai.

Local investors include UEM, Telekom Malaysia, Tenaga Nasional Berhad, Tradewinds and Lido Boulevard.

"All investments, be it local or foreign, are required to abide by the policies and regulations set by the federal and state governments. This will be monitored continuously by the state government and IRDA."

Amirsham added that the total investment figure includes RM4.3 billion from the government for infrastructure development.

He assured that the government would protect the rights of landowners in the area.

Amirsham said efforts were being taken to improve security in the Iskandar area.

The government had approved an allocation for more policemen to be deployed.
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Old June 26th, 2008, 05:27 AM   #368
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SSM sets up in north Johor
Chong Chee Seong

JOHOR has become a well-known trading centre in the region with the establishment of the Iskandar Malaysia development.


BETTER SERVICES: Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad opening the Companies Commission of Malaysia office in Muar.
Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad said the regional development would promote faster economic growth and create more jobs.

He said Johor recorded high turnover in wholesale, retail, restaurant and hotel businesses.

"Our main aim is to provide better facilities and services to consumers," he said at the opening of the Companies Commission of Malaysia (SSM) Muar office and the launching of the e-Info service in Muar recently.


Shahrir said SSM had set up branch offices in all states, including Sabah and Sarawak.

He said with the Muar office, there was no need for people in north Johor to go to Malacca or Johor Baru, adding that this would cut their travel expenses and save time.

SSM Muar covers company registration for Muar, Batu Pahat, Segamat and Ledang, which have 12,058 registered companies.

The new e-Info service includes financial comparison (FC e-Info) and company charges (CC e-Info), which provide information on investments, joint ventures and takeovers.
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Old July 1st, 2008, 02:22 AM   #369
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June 30, 2008 23:33 PM

Tradewinds Plans New Township In Iskandar Malaysia


KUALA LUMPUR, June 30 (Bernama) -- Tradewinds Corporation Bhd is planning a new 378-hectare township in Bandar Nusajaya in Johor, its chairman Tan Sri Megat Najmuddin Megat Khas said Monday.

Megat Najmuddin said the new township, which lies within Iskandar Malaysia, will comprise a mixed development of high-end residential and commercial areas.

"We are confident of the project doing well because the government is investing a lot of time and money in developing and promoting Iskandar Malaysia," he told reporters after the company's annual general meeting here.

Megat Najmuddin said the yet-to-be-named township will start to contribute to Tradewinds' revenue by 2010.

He said efforts to develop the new township included the acquisition of three companies for RM415 million.

The cost included liabilities and the 378 hectares of land owned by the companies for the township.

Tradewinds' chief operating officer Cheah Wing Choong said the company expects to complete the master plan for the township soon and will submit it to the relevant authorities within the year.

The new township is targeted at Malaysians working in Singapore, Singaporeans and also foreigners working in the republic, he said.

-- BERNAMA
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Old July 1st, 2008, 03:42 AM   #370
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dis one really cool!!!
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Old July 1st, 2008, 06:31 AM   #371
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June 30, 2008 23:25 PM

Kuwait Finance House Spreads Wings To Johor


JOHOR BAHARU, June 30 (Bernama) -- Kuwait Finance House (Malaysia) Bhd (KFHMB) has spread its wings by opening on Monday its first branch in Johor, which is also its first outside the Klang Valley.

Managing director Datuk K. Salman Younis said with the opening of the new branch, which marked its fourth in Malaysia, the bank could now expand its reach across all market sectors outside the Klang Valley, especially in the southern part region where Iskandar Malaysia was being developed.

"We are keen to work closely with the state government and the private sector in continuing to explore opportunities and strategic partnerships. It has always been our objective to support both sectors wherever we have a presence," he said at the opening of the branch by Johor Menteri Besar Abdul Ghani Othman.

Younis said the bank had been successful in the Klang Valley and hoped to replicate the success here in Johor.

"In our move towards excellence in service, the branch will also offer priority banking. This is the second following the first at the Kuala Lumpur main branch," he said.

The new branch also houses a commercial banking business centre where customers can access the bank's full range of commercial banking products and services.

Younis said Kuwait Finance House was not really new in Johor but a major partner in the development of Iskandar Malaysia through Cultural Cluster Sdn Bhd, which was vested with the development of three zones -- the Logistics Village, Creative Park and Heritage District.

Together, the three zones cover about 250 hectares of land with an investment value totalling RM1.2 billion.

Another involvement for KFHMB in Johor was a project financing facility for the capital expenditure programme of Senai Airport Terminal Services.

Abdul Ghani, in his speech, praised the role that the KFH group had played in enhancing the link between the Middle East and Malaysia as well as the banks contribution to the development of Islamic finance in Johor.

He hoped that Kuwait Finance House would do more in the state by not only introducing more Islamic banking products and services but also investing in more projects.

-- BERNAMA
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Old July 1st, 2008, 09:16 AM   #372
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Iskandar has met 70% target


JOHOR BARU: Iskandar Malaysia has already achieved 70% of its RM47bil investment target for between 2006 and 2010.

“We received several investments from foreign countries, including the Middle East.


»The investors can renew the lease period but they will never own the land« DATUK ABDUL GHANI OTHMAN

“However, we have not received any form of investment from our neighbouring country (Singapore),” Mentri Besar Datuk Abdul Ghani Othman said at the State Assembly here yesterday.

He told Dr Sheik Ibrahim Salleh (PAS – Sungai Abong) that most of the land under the mega project was state-owned and foreign investors would never own it as the land would be leased out for between 30 and 99 years.

“The investors can renew the lease period from time to time but they will never own the land,” he said.

He added that exemption and benefits given to investors were aimed at roping in more investors for the mega project but

all investors had to contribute to the social fund.

“The social fund will be contributed by the investors as well as the government. We are still working out ways to properly distribute the funds so that locals can benefit from it,” he said.

He added that some RM50mil would be channelled to the fund in the first stage.
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Old July 1st, 2008, 09:52 AM   #373
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Johor Assembly: Ghani: Iskandar won’t become part of S’pore
Sim Bak Heng


THE Iskandar Malaysia development project, covering 2,217sq km, will not become part of Singapore but more accurately a competitor to the republic, the menteri besar said.

"Though foreign investors are encouraged to invest, the state government does not plan for the development to be carried out solely by them.

"So, if there are concerns about Singapore's role, I am more inclined to say that Iskandar Malaysia is Singapore's competitor," Datuk Abdul Ghani Othman told the state assembly.

He said Iskandar Malaysia had generated interest from about 150 companies from Singapore, the Middle East and Japan, besides local investors.

"We are not overly dependent on foreign investors to develop the region.

"Of the RM33 billion investment secured so far, 56 per cent of them are foreign investments," he said in his reply during the question-and-answer session.

The menteri besar said Iskandar Malaysia was targeting investment amounting to RM47 billion between 2006 and 2010, adding that 70 per cent of the target had been achieved to date.

He said government-linked and state-owned companies were the active participants in its development.

For instance, Kumpulan Prasarana Rakyat Johor was the shareholder in Iskandar Investments Berhad, while Johor Corporation would develop industrial land through its subsidiary TPM Technopark and residential land through another subsidiary Johor Land Bhd.

Abdul Ghani said certain luxurious development projects in Iskandar Malaysia were aimed at generating economic activities that would benefit the people by means of their spillover effects.

To a question on the implementation of the smart card system to facilitate travel between residents in Singapore and Malaysia, the menteri besar said the matter was still at the discussion stage.

Meanwhile, State Agriculture and Agro-based Industries Committee chairman Aziz Kaprawi told the House that Muar district had the most number of farmers in Johor.

Of the 45,886 farmers registered with the Department of Agriculture, 10,484 were in Muar, 8,723 in Batu Pahat, 6,473 in Kluang, 5,513 in Pontian, 4,489 in Kota Tinggi, 4,516 in Mersing, 3,643 in Segamat and 2,045 in Johor Baru.
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Old July 5th, 2008, 08:20 AM   #374
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KSL to launch largest mall in Johor
By ZAZALI MUSA


SEGAMAT: KSL Holdings Bhd will launch in two months the biggest commercial complex in Johor, known as the KSL City.

The RM500mil project is located within Century Gardens, opposite Holiday Plaza shopping complex near Jalan Datuk Suleiman.


The project comprises a four-storey retail complex, two 26-storey hotel towers with 950 rooms and two 33-storey apartment towers.


“This is the first development in Johor combining retail, hospitality and high-rise residential living,” group managing director Khoo Cheng Hai told StarBiz after the company AGM recently.

He said the retail complex would offer 500,000 sq ft floor area and house retail outlets, a department store, cineplexes and car park.


He said the five-star KSL Resorts Hotel would be managed by a local hospitality management company.

He said the retail complex and the hotel towers would be completed towards the end of next year and the apartment blocks in mid-2010.

Khoo said the apartment towers would have separate entrances and car parks from the hotel towers.

He said KSL was confident that the hotel would do well as most hotels within the Johor Baru Central Business District currently recorded almost 90% occupancy rate.

“We are also expecting that Johor will benefit from the spillover effects when the two integrated resort projects in Singapore are completed in two years,” said executive director Ku Hwa Seng.

He said the Singapore Tourism Board was projecting some 17 million tourists to visit the republic next year.

Ku said Malaysians planning to visit the resorts would likely stay in Johor Baru as hotel rates in the republic were too costly for average Malaysian tourists.

He said the location of KSL City in the heart of Iskandar Malaysia augured well for the company due to the influx of local and foreign investors, tourists and new residents to south Johor.

Ku said KSL did not discount that the new project would be a stepping-stone for it to further venture into the retail and hospitality segments in other parts of Malaysia.

For the financial year ended Dec 31 (FY07), KSL posted pre-tax profit of RM138.3mil on revenue of RM277.4mil compared with RM94.1mil and RM266.2mil respectively in FY06.
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Old July 5th, 2008, 08:41 AM   #375
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Public transport network to match IDC’s growth


JOHOR BARU: A transportation network is being worked out to link buses, taxis and rail services, including a monorail, to complement development in the Iskandar Development Corridor.

Mentri Besar Datuk Abdul Ghani Othman said yesterday studies were being carried out to put in place the comprehensive public transport system.

He said that routes for the various modes of transport would be identified to ensure an efficient transportation network.

“Before we start on a comprehensive system, we will first have to revamp the bus system in the city,” he said, adding that the Iskandar Regional Development Authority (IRDA) and Khazanah were studying the necessary plans.

Abdul Ghani said the system was necessary especially if Iskandar were to develop into a commercial centre along with a theme park.

“An efficient transportation is needed.

“We can learn a lot from our counterparts in Kuala Lumpur who have lots of experience in this area,” he said.

On another matter, Abdul Ghani said Skudai Kiri, a place that houses 784 families including 683 squatters would be restructured and developed.

He said the state government and IRDA would work on the development plans.

Abdul Ghani said the 88 residents who own a total of 12.55ha of land would be invited for discussions on the matter.
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Old July 10th, 2008, 04:06 AM   #376
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Million Seed to ‘build and sell’
By ZAZALI MUSA


Firm sets itself apart in Johor by being the first to sell completed units

JOHOR BARU: Million Seed Sdn Bhd has become the first developer to introduce the “build and sell” concept in Johor.

The adoption of this concept would instil more public confidence in the company, as purchasers would be buying only completed properties, said managing director Denny Lee.

“We want to differentiate ourselves from other existing developers in Johor,” he told StarBiz at the launch of its 26 units of three-storey shop offices on Saturday.

Located along Jalan Masai Jaya in Plentong next to the newly opened Tesco Extra store, the units are expected to be completed by year-end.

Lee said the units were part of the company's 4.45ha freehold land project, which would span six years with RM418mil in gross development value.


Samuel Tan Wee Cheng (left)and Denny Lee

He said phase two would have 12 units of three-storey shop offices, phase three 1,000 serviced apartments and phase four a hotel tower block.

Lee said the company would focus on developing the commercial properties as many players were already engaged in residential property projects in Johor Baru.

“Demand for shop offices in Iskandar Malaysia is also rising as more businesses are setting up operations in South Johor,” he added.

Project agent KGV-Lambert Smith Hampton (Johor) Sdn Bhd director Samuel Tan Wee Cheng said the Masai-Plentong area was fast emerging as the new commercial hub.

He also said the area was in close proximity to established housing estates such as Taman Molek, Taman Johor Jaya and Bandar Baru Permas Jaya.

He said there were several new upcoming commercial properties in the area and infrastructure projects such as the Eastern Dispersal Link Highway (EDL) and Permas Jaya second bridge to be completed in 2010.

“Masai-Plentong area is part of Iskandar Malaysia and is a brown field area with most infrastructure facilities already in place,” said Tan.


He added that location was integral to the success of commercial projects.
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Old July 10th, 2008, 04:07 AM   #377
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Last edited by rizalhakim; July 11th, 2008 at 07:10 AM.
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Old July 15th, 2008, 07:41 AM   #378
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Squatter issue delays Iskandar
WHEN flats meant for squatters are not completed, the solution would be to allow the squatters to remain where they are.

But in one particular case, squatters from Skudai Kiri in Johor Baru may be delaying one of the country's major development projects by staying put.

The area is part of Iskandar Malaysia and under the project, the 688 squatter families in Skudai Kiri are supposed to be shifted to low-cost housing in Sungai Melana, Tampoi.

Unfortunately, not much has been done at the proposed relocation site as construction of the flats has yet to begin.


Member of Parliament for Pulai, Datuk Nur Jazlan Mohamed, said the squatters cannot be expected to move until the flats are ready.

"My condition (to the state government) is that they build the flats first and then relocate the squatters.

"The flats, however, will take about two and a half years to be completed."

The relocation of the Skudai Kiri squatters is part of the state's plans to be squatter-free by 2013.

In January, Menteri Besar Datuk Abdul Ghani Othman said the state would be spending RM583 million to relocate the estimated 8,000 squatters living within Iskandar Malaysia.

Another matter concerning Skudai Kiri is the 88 landowners in the area.

While Jazlan feels it is only a matter of time before the squatters can relocate, such is not the case with the landowners.

"The landowners still have to negotiate the terms of their compensation with the Johor Baru City Council (MBJB). A certified valuer will then value their land before compensation is paid.

"The meetings with MBJB and the valuations haven't been completed, so it's still uncertain when that process will be over," he told the New Straits Times.

A housing project in Taman Tampoi Utama, where the landowners are supposed to be relocated, is expected to be ready by year-end, he added.

Skudai Kiri residents, in the meantime, are unsure of their status.

Village head Mohamad Ibrahim said he had recently asked an MBJB officer for an update of the council's decision.

"He said he would be visiting me yesterday (July 7) with a report on their latest discussions on Skudai Kiri, but I'm still waiting."

When contacted, a senior MBJB official in the State Economic Planning Unit declined to comment.

The Iskandar Regional Development Authority was also not forthcoming on its plans for Skudai Kiri.

Its media relations department said questions regarding the residents' status should be forwarded to the MBJB.
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Old July 18th, 2008, 04:19 AM   #379
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Pelangi sees GDV of RM55m
By ZAZALI MUSA


Its D’Serambi project to benefit from proximity with Iskandar Malaysia

JOHOR BARU: Pelangi Bhd sees D'Serambi, its last residential project in Taman Perling near here generating gross development value (GDV) of RM55mil.

Chief executive officer Azmar Talib said the project comprised 116 double-storey link houses priced from RM420,000 and would be completed in the next two years.

He said the gated and guarded project featured homes that combined modern needs with traditional values and classic architecture.

“Taman Perling’s close proximity with Bandar Nusajaya in Iskandar Malaysia and Singapore via the second crossing are the strong selling points of the project,” Azmar said at the project launch by the Local Government, Housing, Arts, Culture and Heritage committee chairman Datuk Ahmad Zahri Jamil on Saturday.

Azmar said the modern Malayan Homes concept was chosen as it brought back the good old days of living in government quarters where residents of all races mingled freely.


Datuk Ahmad Zahri Jamil (left) with Azmar Talib looking at a model of the D’Serambi project in Taman Perling

D’Serambi was the first residential project in Johor to have landscaped gardens in its back lanes, he said, adding that Pelangi wanted to be at trendsetter in property development in Iskandar Malaysia.

“The construction will involve minimum cutting down of trees as we want to preserve most of the 20-year-old mahogany trees on the 3.642ha site,” said Azmar.

He said the project had received good response, mostly from existing residents of Taman Perling who wanted to upgrade to high-end properties.

He said the recent completion of the Perling Highway and the good accessibility to the Johor Baru city centre, Senai Airport, Singapore and Pasir Gudang would add to the project's attraction.

Azmar said Pelangi was also planning to redevelop Perling Mall in view of several new retail complexes opening in the nearby Bukit Indah, Taman Sutera Utama and Taman Nusa Bestari.

He said the opening of the state new administration centre, private medical centres, foreign universities, resort style living projects, waterfront development and industrial estates in Nusajaya would have a positive impact on the retail sector in the nearby areas.
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Old July 18th, 2008, 07:51 AM   #380
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India firm invests in Johor cybercity
By Kamarul Yunus
Published: 2008/06/02




Sunil Mantri will inject US$100 million to develop Phase 1 of Bandar MSC Cyberport, and work on the project is expected to start at year-end


MUMBAI-BASED Sunil Mantri Realty Ltd (Sunil Mantri) plans to pump in some US$100 million (RM324 million) to participate in the development of Bandar MSC Cyberport in Kulai, the first Multimedia Super Corridor (MSC) cybercity in Johor.

Recently, this Indian property developer signed a memorandum of understanding (MoU) with MSC Cyberport Sdn Bhd, a public-private partnership to develop, construct, market and fund Bandar MSC Cyberport.

MSC Cyberport chief executive officer Ganesh Kumar Bangah said the Indian company signed the MoU to jointly develop Bandar MSC Cyberport, a RM1.16 billion development within Iskandar Malaysia.

"The US$100 million investment from Sunil Mantri will be injected to develop Phase 1 of Bandar MSC Cyberport, covering a size of 13.2ha. Work on the project is expected to start at the end of the year," he told Business Times.


Ganesh said this foreign direct investment is significant for the development of Bandar MSC Cyberport as it will give the development international credibility and recognition from Indian multinational companies (MNCs) that are already clients or are familiar with Sunil Mantri's successful developments in India.

"This will jump-start foreign information technology (IT) investments in Bandar MSC Cyberport and Iskandar Malaysia," he said.

He said Sunil Mantri and MSC Cyberport will cooperate to develop Bandar MSC Cyberport, and does not rule out the possibility of the establishment of a joint-venture company to carry out the project.

"We are in the midst of finalising the details of a special purpose vehicle (SPV) to conduct the development and will make the announcement on the set-up of the SPV in due course," he said.

Elaborating on Bandar MSC Cyberport, Ganesh said the project is a 60ha information, communication and technology (ICT) city development located in Kulai, within Iskandar Malaysia where the Second Link and the North-South Expressway meet.

"It will be a mixed development with residential, commercial and ICT spaces targeting the IT operations of MNCs, while developing local technology companies and technopreneurs.

"The cybercity will be ready in phases, starting end of 2008 to 2009," he said.

MSC Cyberport was established to create a global ICT business hub, with a world-class living environment for ICT companies worldwide within Iskandar Malaysia. This is in line with the government's MSC Malaysia initiative.

Bandar MSC Cyberport is operated and managed by MSC Cyberport Sdn Bhd, 30 per cent-owned associate of Kumpulan Prasarana Rakyat Johor Sdn Bhd, which in turn is a wholly-owned subsidiary of the Johor government.

The cybercity at present covers two designated locations, namely Menara MSC Cyberport and Bandar MSC Cyberport. It is envisioned that these two hubs will serve as a vehicle to initiate and facilitate the growth of ICT and knowledge-based industries in Johor.

It is based on the hub and spoke concept, each having its own unique strength and cost-effective base for ICT companies targeting emerging markets in the Asia-Pacific region.















http://www.cyberport.cc
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