Iskander and Kuala Lumpur, the largest investment of Malaysia in Singapore, Sabah and Sarawak, offer many opportunities.
In the area of eastern Malaysia, Business opportunities in Malaysia in areas such as catering, engineering and urban infrastructure. This was reported by Singapore International Company (IE).
The leader of the South-East Asia Group, Lam Yin Yin, said: “There are fast-growing countries with resource-intensive jobs that go beyond the traditionally popular Kuala Lumpur and Johor.”
The development of eastern Malaysia has prompted the demand for engineering, purchasing and construction services. She spoke at an IE meeting with representatives of the Singapore and Malaysia governments on Wednesday.
The projects include the Sipitang oil and gas industrial park, the Sabine economic zone and the east coast and an important development corridor covering the transformation of land by 2020 with key infrastructure.
Singapore companies have not yet discovered the potential of the region. Since the 1980s, Malaysia has only approved 99 projects that are owned exclusively by Sabah and Sarawak Singapore.
K. Sukomaran, director of the Malaysian Investment Development Department, said companies did not come to extend “Sabah” and “Saravak”, but the situation has improved over the past five years.
“Companies are still going to Iskander or KL if they are not for incredible reasons or in certain industries,” he said.
He acknowledged that there was a problem of accessibility. Flights from Singapore to Kota Kinabalu can take 21/2 hours longer than KL or Johor.
New Malaysian rules on foreign investment may be made available to Singapore companies.
Aliens can now have a 100% share in many industries, including production and services. In the past, at least 30 percent of the bombing required foreign ownership, and some industries were fully protected for Malaysian citizens or permanent residents.
However, Foong & Partners, the leading partner of KL, Foong Chee Meng, although federal laws are already liberal, may require restrictions on certain specific regulations of individual countries, while some industries still need a special license.
“The good news is that things are easier than before … but first they have to make sure that the industry to which the company belongs and its own problem will buy land.”
Mr Foong also warned that a good partner in Malaysia is “not only in terms of compatibility, but in terms of added value”.
Ms. Lam stressed that catering or support companies could benefit from a favorable tourism sector in eastern Malaysia.
The number of tourists rose 17.6 percent in the morning, from 2.9 million in 2012 to 3.4 million last year.
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