ISKANDAR MALAYSIA ON TRACK TO ACHIEVE US$13 BIL FDI

KUALA LUMPUR, April 20 (Bernama) -- Iskandar Malaysia has nearly met its
US$13 billion overall foreign direct investment target for the phase ending
in 2010.

Iskandar Investment Bhd (IIB), the catalytic developer of Iskandar Malaysia,
said todate more than US$11 billion or 92 per cent has been invested by players
in Iskandar Malaysia.

"Of the total, IIB's Middle East partners, Mubadala, Millennium, Kuwait
Finance House and Aldar have invested US$1.2 billion or more than 10 per cent of
the capital raised todate," it said in a statement Monday.

Despite the current economic downturn, there is still interest from
the likes of LEGOLAND and the Newcastle University of Medicine from the United
Kingdom (NUMed), it said.

Merlin Entertainment will build its first US$200 million LEGOLAND Park in
East Asia while NUMed will partner with EduCity@Iskandar to set up its first
branch campus worth US$100 million.

"Our view is also bolstered by the confidence felt by our partners in the
Middle East and their significant investment made in IBB's flagship mixed-use
development, Medini Iskandar Malaysia," managing director Arlida Ariff said.

Three times the size of Singapore, Iskandar Malaysia spans over 2,217 sq km
and is a mixed use development planned for completion in 2025.

"We expect to capitalise on the exposure provided by the Cityspace platform
to highlight our products and the competitive advantages of Iskandar Malaysia,"
she added.

Iskandar Malaysia, formerly known as Iskandar Development Region (IDR) and
South Johor Economic Region (SJER) is the new main southern development corridor
in Johor, Malaysia. The Iskandar Malaysia was established on 30 July 2006.

-- BERNAMA