NUSAJAYA: A multinational company with its head office in Singapore, specialising in the distribution of tropical vegetable oils and their derivatives, has expressed interest to invest in Iskandar Malaysia.
Johor Tourism, Domestic Trade and Consumerism committee chairman Datuk Tee Siew Kiong said the Europe-based company planned to invest RM250mil to set up its operations in the Southern Economic Corridor.
“The investment could be realised by this year or in the first quarter of next year,” he told reporters after opening D’ Elegance Hotel in Taman Nusanatara here yesterday.
Tee, however, declined to reveal the name of the company and the location of the plant in Iskandar Malaysia.
The multinational company has extensive experience in outsourcing and distributing products with offices in Europe and the United States.
The company planned to invest in Iskandar Malaysia due to Johor’s close proximity to Singapore and the progress in the economic region.
Tee said the Johor business delegation met with the representatives from the company in Milan, Italy during a trip there with Prime Minister Datuk Seri Najib Tun Razak recently.
“Johor has the right ecosystem to continue attracting global companies to set up their operations especially in Iskandar Malaysia,” Tee added.