S'pore, Malaysia to invest jointly in Iskandar

SINGAPORE and Malaysia will look into a possible joint investment in the Iskandar Malaysia region in Johor, an idea proposed by the republic's Prime Minister Lee Hsien Loong to his Malaysian counterpart, Datuk Seri Najib Razak on Saturday.

The proposal was made when they met here after attending the first day of Asia- Pacific Economic Cooperation leaders' meeting.

The nature of investment, the amount involved and other details will be discussed by officials from both countries soon, Najib said before leaving Lima.

The joint investment would signify both the countries' common interests and aspirations.

Iskandar Malaysia, one of the development corridors proposed by Prime Minister Datuk Seri Abdullah Ahmad Badawi, covers a land area of 2,217 sq km and is separated from Singapore by the Johor Straits.

The area stretches from Johor Baru to Nusajaya. Infrastructure such as the Port of Pasir Gudang and the Senai International Airport are already in place.

It has so far attracted billions of ringgit worth of investment commitments, from local and international investors.

(Sources: http://www.nst.com.my/Current_News/NST/Tuesday/National/2410923/Article/index_html)