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Saturday September 21, 2013 MYT 12:00:00 AM
Saturday September 21, 2013 MYT 8:17:53 AM
by abdul rahman embong
Token of appreciation: Ferguson (right) receiving a souvenior from Voon (second left) at the signing ceremony between SP Setia Bhd and Howco Metals Management Malaysia Sdn Bhd. Looking on are Sukomaran (left) and Hoe (third from left).
JOHOR BARU: Many manufacturing companies based in Singapore have expressed their strong interest to relocate their operations to Iskandar Malaysia.
The Malaysian Investment Development Authority (Mida) Singapore office director K. Sukomaran said high cost of doing business in the republic was the main reason why they wanted to relocate elsewhere.
“Johor is the obvious choice due to its proximity to Singapore as many of them will have the best of both worlds,’’ he said on Thursday.
Sukomaran said Iskandar would benefit the most as the the economic growth corridor has been attracting domestic and foreign investors since its inception seven years ago.
He said with the completion of main infrastructure projects including road and highway system, investors would be attracted to invest in Iskandar.
Sukomaran said this after witnessing a signing between SP Setia Group Bhd and Howco Metals Management (M) Sdn Bhd at Setia Wecome Centre here.
SP Setia was represented by its chief operating officer Datuk Voon Tin Yow and divisional general manager Hoe Mee Ling and Howco Group by its chief executive officer Johor Ferguson and deputy CEO Dave Davidson.
Howco will invest US$20mil to build the 8,000 sq ft facility on a 2ha site at Setia Business Park located along Jalan Ulu Choh-Gelang Patah and the plant is expected to be completed in January 2015.
The Group founded in Scotland in 1982, is the leading global distributor of raw material for wellhead and completion equipment to the oil and gas industry.
It has five facilities in seven countries employing more than 1,000 people and Malaysia is the company’s 16th location.
“Our office in Singapore will assist companies from the republic planning to relocate to Malaysia, but it is up to them where they want to invest in Malaysia,’’ he said.
Sukomaran said although Mida welcomed manufacturing companies to invest in the country, it would be selective and focus more on the high-technology investment instead of labour-intensive.
He said Malaysia had to move up its value-chain and it could no longer accommodate manufacturing activities which depended on low-skill workforce as the country would have to hire foreigners for the jobs.
Tags / Keywords:
Southern & Eastern Region, mida, singapore, relocating, iskandar malaysia, johor
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