Game changer for Iskandar Malaysia
‘It is fulfilling, what we are doing, as the jobs created were 80% to 85% taken up by locals, which was the main objective of the (GBS Iskandar) programme,’ says Zulfiqar. IN less than three years of introducing its Global Business Services (GBS) Iskandar programme, i2M Ventures Sdn Bhd has secured 4,000 jobs with an approximate value of RM1.76bil.
The jobs were secured for 14 investing companies under the programme, specialised to facilitate businesses to locate their services to Iskandar Puteri, within the Iskandar Malaysia development.
Since introducing the programme last year, i2M, a wholly-owned subsidiary of the Malaysian government’s investment arm Khazanah Nasional Bhd, has reached about 20% of its targeted 14,000 high-value jobs for the people over a period of five years.
i2M managing director Zulfiqar Zainuddin said i2M’s mandate from Khazanah was job creation and they have been playing a facilitative role from the get go since forming the company in 2013.
By the time i2M set up shop in Medini, Iskandar Malaysia was already well into its second phase where infrastructure and roads were being built and catalytic projects like Legoland Malaysia, Pinewood Studios and the coastal highway were already in place, he said.
“Our role was more of a go-to agency for companies to refer to for the best solution for them to consider when they bring their operations here,” he said in a recent interview.
In the first two years, Zulfiqar said they noticed there was an overlap and mismatch on what the developments were selling and promoting.
He said everybody was fast-paced in their own development that they only looked at their own focus, and not at how they could actually complement one another.
“So we sat the developers and agencies down in one room and said, ‘Look, if you want to attract businesses and services-type activities, you cannot have 7,000sqft (650.32sqm) to 8,000sqft (743.22sqm) spaces’.
“Businesses want spaces of 25,000sq ft (2,322.58sqm) and above if they were to expand or set up their operations here, which has a great pulling factor due to the close proximity to Singapore, which is a short drive away via the SecondLink crossing,” he added.
Zulfiqar, who was part of the team involved in bringing up Cyberjaya in Selangor, said that led to the GBS Iskandar programme where for the first time, they managed to bring all stakeholders together to look at how they can thrive together.
With Iskandar pretty much into the third phase of development, he said i2M At the launch of Aegis is Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin (centre in grey suit). On his right is Aegis Malaysia COO Divya Dutta and on his left is Aegis Ltd Global CEO and executive director Sandip Sen. was happy that the programme was gaining more traction and visibility at this point.
He said they were confident of hitting their targeted RM14,000 new high value jobs into the location and attract an investment value of RM6.5bil over the next five years.
GBS Iskandar focuses on global business services, shared services and outsourcing which is across all industries.
“It is fulfilling, what we are doing, as the jobs created were 80% to 85% taken up by locals, which was the main objective of the programme,” he said, adding that the programme got some 20% of Malaysians to return to the country from Singapore.
So far, Zulfiqar added that the 11 companies on board include a mix of regional and multinational companies such as Aegis Ltd, involved in business process outsourcing, Hong Kong-based Vistra and home furnishing company Courts Asia from Singapore.
“In the coming weeks, we have had visits by companies in Singapore from time to time, and recently hosted visitors from Europe and the UK.
“That is where we are today. We have laid the foundation, the momentum is picking up and the responsibility is on us to deliver,” he said.
In addition to that, with Iskandar coming into its 11th year, i2M is looking forward to more companies making Iskandar Puteri the location of choice for their business services.
Those interested to set up a shared services or Global Business Services centre can contact their investor solutions specialist through gbs.iskandar@i2m.com.my or visit www.gbs-iskandar.my for more information.