Malaysia draws substantial investments from Singapore

Malaysia has succeeded in attracting substantial investments from Singapore not only in the national mega venture, Iskandar Malaysia, but beyond, said Minister of International Trade and Industry Datuk Seri Mustapa Mohamed. "With the stock of Singapore investment currently standing at almost USD 30 billion, it indicates a stronger part of Singapore in Malaysia, not only in Iskandar Malaysia but also in other parts of the economic zone," he said, in remarks carried by the local media Friday. The local media reported that Mohamed made the remarks during a visit to Singapore, leading a trade and investment mission. Mohamed, who visited Singapore four times this year, said although Singapore's investors have been investing in Malaysia "all these years but now their interest in the other corridors is gaining stronger." Singapore's companies "are now on the ground investing in various sectors including properties, hotels and manufacturing, in Sabah, Sarawak, Melaka and Penang," he added.