Juz better than Guatemala City, Caracas in Venezuela and Joeburg in South Africa. All v v violent places.
So LKY was NOT wrong in the 90s, in his analysis of JB! He was WRONG to apologise. Strange our constructive, nation-building not praising his foresight. Err maybe, he no longer considered constructive, nation-builder?
BTW JB is the capital of Iskandar . LOL
Iskandar flip flops agaim. When it started, notwithstanding its attempts to get local biz to relocate, it was telling the Arabs that it wanted to be another s’pore. The arabs wisely dids not buy into the BS. So it started trying its luck with SMEs and TLCs. Now …
Iskandar Malaysia is set to focus more on attracting higher-value manufacturing companies, in a move that may result in some lower-end Singapore businesses having to look for an alternative overseas destination where they can shift some of their operations as they grapple with higher costs and manpower constraints at home.
Mr Ismail Ibrahim, the chief executive of the Iskandar Regional Development Authority (IRDA), told TODAY in an interview that the special economic zone is shifting away from activities dependent on cheap labour.
“For the manufacturing sector, we are moving Iskandar Malaysia towards higher levels of the value chain. We want to see more of what we term as technology-intensive manufacturing activities and less of the low-cost kind of industries,” he said, adding that this has always been part of the IRDA’s planning.
Ten years ago, Mr Lim — the owner of a Singapore food manufacturing company — purchased two industrial land plots across the Causeway, with the hope of shifting some of his operations to Johor Baru’s low-cost environment. He has yet to make that move as, after crunching the numbers, there is not a strong financial case.
“Iskandar is also facing issues of a manpower shortage and rising costs. Last year’s introduction of minimum wages and Goods and Services Tax are just part of it,” Mr Lim, who asked to keep his identity and the name of his company private, told TODAY. “The fact that Iskandar doesn’t have a free port also matters to a food company like us, because imported materials and exported products will be tariffed. Or we can go through Singapore’s ports — and fork out just as much for the cross-strait transport costs.”
The CEO’s comments come as anecdotal evidence suggests that some Singapore manufacturers do not see a compelling reason to move operations to Iskandar.
Singapore remains the biggest foreign investor in Iskandar, having committed a cumulative RM11 billion (S$4.23 billion) to the area as of January, showed data provided by the IRDA. This forms a key part of the RM133.07 billion overall investment that the region has attracted so far, of which RM47.82 billion has been committed to the manufacturing sector.
However, a closer look at the data reveals that although the overall investment amount has been increasing, the proportion of foreign investment in Iskandar has been steadily shrinking, from 55 per cent of the total in 2008 to 35 per cent currently, suggesting a slowdown in overseas interest.