S'PORE INVESTORS SHOW GREATER INTEREST TOWARDS MALAYSIA - MINISTER

From Mohd Haikal Isa

SINGAPORE, Dec 8 (Bernama) -- There has been a spike of interest among
Singapore companies towards Malaysia as the island republic continued to be the
leading source of foreign investment for the country, International Trade and
Industry minister Mustapa Mohamed said.

Up to September this year, the total approved investments from Singapore
stood at US$1.134 billion involving 75 projects, he said.

"There is certainly a lot more interest from Singapore investors as a result
of a warmer bilateral relations," he told reporters after attending a forum on
the Economic Transformation Programme (ETP) organised by his ministry in
collaboration with the Performance Management and Delivery Unit (Pemandu), here
Tuesday.

Also attending the forum was Minister in the Prime Minister's Department
Idris Jala.

Mustapa said during the period, bilateral trade with Singapore totalled
US$32.9 billion which accounted for 12.6 per cent of Malaysia's total trade.


In 2009, Singapore was the fourth largest source of foreign investments
after Japan, Hong Kong and the United States.

He told the forum, which was attended by about 400 Singapore corporate
leaders, that Iskandar Malaysia, a premier investment region in Johor, had also
chalked up substantive progress to date in terms of attracting investment from
Singapore.

Investments committed from 2006 to August 2010 totalled US$19.3 billion, of
which US$8.1 billion (43 per cent) were on-going actual investments, he said.

According to Mustapa, the good response to today's forum, which exceeded the
initial target of 250 participants, was another indicator of the heighten
interest on Malaysia among Singapore investors.

Next year, he said, the ministry would hold similar forum in major economic
powerhouses like Japan and South Korea.

Idris, who was also present during the media conference, said the forum
enabled him and the ministry to explain in depth about the Government
Transformation Programme and the ETP, and the various opportunities available
for Singapore investors.

He said huge opportunities awaited Singapore investors in 12 National Key
Economic Areas.

Idris concurred with Mustapa, saying the republic's businessmen showed
greater interest in Malaysia as their preferred investment destination this year
compared to the previous year.

"The level of investment from Singapore this year has increase tremendously
compare to last year. It's very encouraging. There is tremendous opportunity for
business to flourish," Idris said.

-- BERNAMA