CS3 has 3 towers. 1 office and 2 serviced apartments (hotels).
I think they will launch the retail section first. This is the most strategic piece of land in PH. It better be good.
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Puteri Harbour Community
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CS3 has 3 towers. 1 office and 2 serviced apartments (hotels).
I think they will launch the retail section first. This is the most strategic piece of land in PH. It better be good.
any idea when are they launching CS3 ? It's beside Imperial right ?
http://www.theedgeproperty.com.my/content/iskandar-puteri-aims-be-business-services-outsourcing-hub
Iskandar Puteri aims to be business services outsourcing hub
By Kamarul Azhar | April 28, 2016 7:10 AM MYT
AS A greenfield development, Iskandar Puteri in Johor, formerly known as Nusajaya, has gone through two growth phases — infrastructure and property development. The question now is what industry should be promoted to turn it into an economically vibrant city?
The answer lies in its master plan and geographical location.
Iskandar Puteri has never been planned to attract the agriculture or manufacturing industries. Its proximity to Singapore and lower cost base makes it a prime location for the global business services (GBS) outsourcing industry.
Realising that the region offers tremendous opportunities for companies to benefit from the Singapore market while having a Malaysian cost structure, Khazanah Nasional Bhd set up i2M Ventures Sdn Bhd to promote Iskandar Puteri as a GBS hub.
“i2m Ventures started in August 2013, but it came out of what was called the business services unit in the investment division of Khazanah,” i2M Ventures’ managing director Zulfiqar Zainuddin tells The Edge in a recent interview in Medini.
“When Khazanah was drawing up the master plan for Iskandar Malaysia, one of the areas identified for high value growth was to bring shared services and outsourcing activities into this region,” he says.
What is GBS?
GBS encompasses business processes, shared services and outsourcing (BPO and SSO), as well as offsite information technology and technical support services in the financial services, oil and gas, technology, logistics, and electrical and electronics industries.
In a nutshell, i2M is trying to promote Iskandar Puteri as the BPO and SSO hub of the south. Because it is a lower cost centre, Malaysia is an attractive market for multinational corporations that want to outsource their business processes and shared services.
i2M Ventures is emulating what has been done in Cyberjaya, Selangor, while learning from the mistakes made in the 20 years since the Multimedia Super Corridor was established, says Zulfiqar.
“When we were trying to bring multinationals into Cyberjaya, the challenge was that it is really far from the city centre. The companies said their employees did not want to move — Cyberjaya was too disconnected, it is really far and there is nothing to do there,” he explains.
But as the infrastructure matured, especially the opening of the Maju Expressway, the floodgates opened, and Cyberjaya has grown into what it is today, home to the back offices of MNCs that include HSBC, DHL, IBM and AMD.
“If you want to develop a greenfield area like what Iskandar Puteri is today, it cannot be disconnected from where the people are. That was why, in 2012, one of the earliest developments was the opening of the coastal highway,” says Zulfiqar, who was involved in the development of Cyberjaya during his tenure at Multimedia Development Corp (MDeC).
While Iskandar Puteri is positioned like Cyberjaya — to attract MNCs to render back-office services to the Asia-Pacific region — the southern hub has an advantage over other outsourcing hubs such as Cyberjaya, Shenzhen, Cebu City and Bangalore.
Its competitive edge is that it is positioned as a platform for Malaysian outsourcing companies to serve the Singapore market, without being in the city-state.
Many MNCs who want to maintain their regional headquarters in Singapore face pressures in terms of the cost of the middle and back offices — support and technical services, as well as human resources and finance.
“Ten years ago, their best bet would have been to move these operations to Kuala Lumpur. Although Malaysia borders Singapore, you would still need to spend two to three days to visit your operations in KL, and then fly back.
“So, the real value proposition in Iskandar Puteri is that MNCs can still have their headquarters in Singapore, while moving their back offices across the straits. Downtown Singapore is just about 40 to 45 minutes from here,” says Zulfiqar.
i2M’s vision and mission
Being a non-profit entity, i2M’s objective is to kick-start the initiative to promote and attract local and MNCs to establish business services activities in Iskandar Puteri, and make the GBS industry a key growth area, says Zulfiqar.
“Khazanah sees value in us in that if we do our job well, the people who will benefit are the other companies that have invested in Iskandar, such as the property developers, shop owners and hotel operators,” he says.
Khazanah has set two key performance indicators for i2M Ventures. One is that it must ensure the realisation of the investors’ projects and eventually create 13,000 jobs, with a total income of RM6.5 billion.
Towards this end, i2M Ventures seems to be on the right track. As at 2015, just three years after its establishment, i2M Ventures had attracted six companies to set up outsourcing centres or back offices in Iskandar Puteri, and created 2,269 jobs with a total income of RM1.2 billion.
This year, i2M has set a target of creating another 2,000 jobs in the GBS industry.
To achieve these targets, Khazanah has provided RM90 million for customised incentives to attract companies to move there.
Apart from that, i2M Ventures is partnering government agencies including MDeC, Malaysian Investment Development Authority, Iskandar Regional Development Authority and Talent Corp Malaysia Bhd as well as the Johor government to attract investments via various incentive packages.
For example, under MDeC, a company can apply for MSC status recognition and be eligible for 100% investment tax allowance, research and development grants and duty-free import of multimedia equipment, among others.
Still, the biggest challenge for i2M Ventures is to grow the talent pool. Besides working with TalentCorp and various universities, i2M sees the need to promote Iskandar Puteri as a place where new graduates and young professionals can find high-value jobs.
“One of the things that we are trying to change is that people are not even aware of the job opportunities in Iskandar Puteri, especially in business services. Going forward, we want to make it known as the place to be in terms of high-value jobs,” says Zulfiqar.
Iskandar Puteri aims to be business services outsourcing hub
By Kamarul Azhar | April 28, 2016 7:10 AM MYT
AS A greenfield development, Iskandar Puteri in Johor, formerly known as Nusajaya, has gone through two growth phases — infrastructure and property development. The question now is what industry should be promoted to turn it into an economically vibrant city?
The answer lies in its master plan and geographical location.
Iskandar Puteri has never been planned to attract the agriculture or manufacturing industries. Its proximity to Singapore and lower cost base makes it a prime location for the global business services (GBS) outsourcing industry.
Realising that the region offers tremendous opportunities for companies to benefit from the Singapore market while having a Malaysian cost structure, Khazanah Nasional Bhd set up i2M Ventures Sdn Bhd to promote Iskandar Puteri as a GBS hub.
“i2m Ventures started in August 2013, but it came out of what was called the business services unit in the investment division of Khazanah,” i2M Ventures’ managing director Zulfiqar Zainuddin tells The Edge in a recent interview in Medini.
“When Khazanah was drawing up the master plan for Iskandar Malaysia, one of the areas identified for high value growth was to bring shared services and outsourcing activities into this region,” he says.
What is GBS?
GBS encompasses business processes, shared services and outsourcing (BPO and SSO), as well as offsite information technology and technical support services in the financial services, oil and gas, technology, logistics, and electrical and electronics industries.
In a nutshell, i2M is trying to promote Iskandar Puteri as the BPO and SSO hub of the south. Because it is a lower cost centre, Malaysia is an attractive market for multinational corporations that want to outsource their business processes and shared services.
i2M Ventures is emulating what has been done in Cyberjaya, Selangor, while learning from the mistakes made in the 20 years since the Multimedia Super Corridor was established, says Zulfiqar.
“When we were trying to bring multinationals into Cyberjaya, the challenge was that it is really far from the city centre. The companies said their employees did not want to move — Cyberjaya was too disconnected, it is really far and there is nothing to do there,” he explains.
But as the infrastructure matured, especially the opening of the Maju Expressway, the floodgates opened, and Cyberjaya has grown into what it is today, home to the back offices of MNCs that include HSBC, DHL, IBM and AMD.
“If you want to develop a greenfield area like what Iskandar Puteri is today, it cannot be disconnected from where the people are. That was why, in 2012, one of the earliest developments was the opening of the coastal highway,” says Zulfiqar, who was involved in the development of Cyberjaya during his tenure at Multimedia Development Corp (MDeC).
While Iskandar Puteri is positioned like Cyberjaya — to attract MNCs to render back-office services to the Asia-Pacific region — the southern hub has an advantage over other outsourcing hubs such as Cyberjaya, Shenzhen, Cebu City and Bangalore.
Its competitive edge is that it is positioned as a platform for Malaysian outsourcing companies to serve the Singapore market, without being in the city-state.
Many MNCs who want to maintain their regional headquarters in Singapore face pressures in terms of the cost of the middle and back offices — support and technical services, as well as human resources and finance.
“Ten years ago, their best bet would have been to move these operations to Kuala Lumpur. Although Malaysia borders Singapore, you would still need to spend two to three days to visit your operations in KL, and then fly back.
“So, the real value proposition in Iskandar Puteri is that MNCs can still have their headquarters in Singapore, while moving their back offices across the straits. Downtown Singapore is just about 40 to 45 minutes from here,” says Zulfiqar.
i2M’s vision and mission
Being a non-profit entity, i2M’s objective is to kick-start the initiative to promote and attract local and MNCs to establish business services activities in Iskandar Puteri, and make the GBS industry a key growth area, says Zulfiqar.
“Khazanah sees value in us in that if we do our job well, the people who will benefit are the other companies that have invested in Iskandar, such as the property developers, shop owners and hotel operators,” he says.
Khazanah has set two key performance indicators for i2M Ventures. One is that it must ensure the realisation of the investors’ projects and eventually create 13,000 jobs, with a total income of RM6.5 billion.
Towards this end, i2M Ventures seems to be on the right track. As at 2015, just three years after its establishment, i2M Ventures had attracted six companies to set up outsourcing centres or back offices in Iskandar Puteri, and created 2,269 jobs with a total income of RM1.2 billion.
This year, i2M has set a target of creating another 2,000 jobs in the GBS industry.
To achieve these targets, Khazanah has provided RM90 million for customised incentives to attract companies to move there.
Apart from that, i2M Ventures is partnering government agencies including MDeC, Malaysian Investment Development Authority, Iskandar Regional Development Authority and Talent Corp Malaysia Bhd as well as the Johor government to attract investments via various incentive packages.
For example, under MDeC, a company can apply for MSC status recognition and be eligible for 100% investment tax allowance, research and development grants and duty-free import of multimedia equipment, among others.
Still, the biggest challenge for i2M Ventures is to grow the talent pool. Besides working with TalentCorp and various universities, i2M sees the need to promote Iskandar Puteri as a place where new graduates and young professionals can find high-value jobs.
“One of the things that we are trying to change is that people are not even aware of the job opportunities in Iskandar Puteri, especially in business services. Going forward, we want to make it known as the place to be in terms of high-value jobs,” says Zulfiqar.
All these reports make it sound so nice again and again.
Which major companies and MNCs from Singapore have moved to Iskandar Puteri?
Which Malaysian graduates and professionals would rather work there for the "high value job opportunities"? Many of them are coming to Singapore for the higher salaries and better currency conversion rate. Even the lower skilled workers do so too.
Which major companies and MNCs from Singapore have moved to Iskandar Puteri?
Which Malaysian graduates and professionals would rather work there for the "high value job opportunities"? Many of them are coming to Singapore for the higher salaries and better currency conversion rate. Even the lower skilled workers do so too.
The TOP most criteria is SPEAKING GOOD ENGLISH, so far most can hardly string together a grammatically correct sentence in English much less speak it without trying lamely to sound 'foreign' or in local term "slang" in English....... Please laaahhhh, speak properly first before trying to sound "Mat Salleh".
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To date not a single company has moved into ascenda nusajaya tech park despite its completion a few months ago.
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I am giving companies up to 10 years to gradually fill the spaces. I have learned my lesson in Singapore to realise that occupancy rate takes time.
If Singapore continues to degenerate as depicted in the reports by ST and Nusajaya continues hitting target, it wont be long before Malaysia becomes a competitor. It is a waste to see Iskandar solely as a manufacturing alternative to Singapore.
I always tell people around me. Whatever Singapore has, Malaysia has it. Whatever Singapore don't have, Malaysia will have it. So its quite clear who is the ultimate winner
If Singapore continues to degenerate as depicted in the reports by ST and Nusajaya continues hitting target, it wont be long before Malaysia becomes a competitor. It is a waste to see Iskandar solely as a manufacturing alternative to Singapore.
I always tell people around me. Whatever Singapore has, Malaysia has it. Whatever Singapore don't have, Malaysia will have it. So its quite clear who is the ultimate winner
SG don't have large pieces of cheap land everywhere, MY has.
SG don't have a large group of unskilled workers, MY has.
SG has huge pool of skilled and highly skilled workers (FT incl.) not in MY.
Cost of doing business in SG is high, not in MY
Corruption in SG is among the lowest in the world, MY among the highest.
Someone once said that MY is like a high end computer but still running on an extremely outdated software.
And as long as they refuse to upgrade themselves, SG will still have the advantage.
The irony now is many company relocated to JB found that despite the savings on operational cost, they had problems getting skilled workers because the good and better one are seeking SG$ across the Causeway.
When MSA split to become MAS and SIA, decades later, one got bankrupted several times over and needed to be bailed out and is still failing while the other went on to become one of the most successful airline.
The new German CEO of MAS when interviewed last year actually spoke on this, revealing the reasons why MAS failed.
I agree with you on some points especially on the high end computer.
Corruption index according to Transparency International ranking per 168 countries.
Singapore 8/168
Malaysia 54/168
Thailand 76/168
Indonesia 88/168
Phillippines 95/168
Vietnam 112/168
Myannmar 147/168
Cambodia 150/168
1. If you were an investor who hoped to tap in ASEAN, which country would you choose? Still Singapore?
2. What's the use of highly skilled labor when companies are moving out of the country? Even Malaysians would not have any jobs. It is known that there's an unwritten rule that original Singaporeans would be given priority over new citizens where everything being equal.
3. If Singapore can open its door to new talents, do you think Malaysia would not? Do you think Chinese or Indians would continue to flood into Singapore?
...................
Based on the above, Singaporeans better off in Singapore.
No need to waste time in Malaysia. But .. Why r u here?
I think there is no point in attacking each other. Singapore has its good points. Malaysia has its own strengths too.
Snowbird did make many good observations. Malaysia could have been a lot better. The country has so much land and resources. That's why it can survive till today. But undeniably, what has impeded its growth is its governance.
I totally agree that as long as you can't eradicate the corruption, safety issues, the lack of drive, the favouritism of a certain race over other better skilled races, the country will remain largely where it has been.
Sure, Malaysia can TRY TO replicate whatever Singapore has done. But can it succeed? That's another matter. As of now and for an indefinitely long time, I certainly don't think so. How does one expect Malaysia to attract foreign talents when it can't even retain its own talented people, many of whom have chosen to leave the country?
For those Malaysians here, I believe many of them have benefited from the Singapore system, be it in terms of education, investments of some sort or just general well-being. People trust the system in Singapore. Argue as much as we want to, but Singapore started from some shitty 3rd world fishing village to become one of the most respected 1st world country in the world. That's no mean feat. That's 50 damn solid hard work from the government and its people. For Malaysia, I see some progress. But I don't see an equal sort of success the way Singapore has achieved for reasons I've mentioned above.
Just look at Iskandar. One main reason why things are moving so slowly is that there is no demand from its own people. Funny how some Malaysian supporters argue Johor doesn't need to depend on Singapore to grow. Yet many times, we also hear contradicting views that Iskandar can grow only if the jams at the causeway/Tuas are reduced. Why say this if Singapore is not the deciding factor for Iskandar's success? Why mention the CIQ is "only 15 minutes away" from Iskandar in all your property advertisements?
If there is good demand, all the workers from other Malaysian states would have already moved to Iskandar and businesses started by now. Anyone wonder why or can give a good explanation why this is not happening? When I walked around, I don't see that progress. Or at least, it's dismally slow.
In 2012/13, there was a plot of land near my home in Singapore which had been sold for a condo development. Earlier part of this year, the TOP was reached as promised. I see many lights there. People were all moving in. There were activities. In Medini, many construction started about the same time. Till today, I see many condos still under construction. Some are barely half way through. Of those few completed, I see a ghost town area. Why?
Some people argue, I give Iskandar 10 years. It will prosper! Please don't talk about the future. That's merely hope. No one can predict what will happen. In fact, anything can happen. Let's talk about now. There must be reasons why things turn out a certain way.
As another example, just look at how the Malaysian government introduce their own property cooling measures. One of them is to increase the minimum sum foreigners have to pay for their properties. 1st it was RM500k. Then later, it became RM1mil. In contrast, the SG government introduced its own cooling measures. But noticed they don't include this ridiculous minimum price of the property. If you think deeper, you will realise it's a cunning way of locking up foreigners' capital in the properties they have bought. There is no reason why you should penalise the earlier property buyers just so that you can cool the market. The Malaysian government has already increased their Capital Gains Tax and others, so those already formed a strong deterrence.
So I think when we read all those reports saying there is "good job opportunities" in Iskandar, businesses from Singapore are already moving there due to the lower costs, it takes only 15 minutes to travel from Singapore to Iskandar, etc, just be careful. There are many untruths or incomplete facts painted there.
Snowbird did make many good observations. Malaysia could have been a lot better. The country has so much land and resources. That's why it can survive till today. But undeniably, what has impeded its growth is its governance.
I totally agree that as long as you can't eradicate the corruption, safety issues, the lack of drive, the favouritism of a certain race over other better skilled races, the country will remain largely where it has been.
Sure, Malaysia can TRY TO replicate whatever Singapore has done. But can it succeed? That's another matter. As of now and for an indefinitely long time, I certainly don't think so. How does one expect Malaysia to attract foreign talents when it can't even retain its own talented people, many of whom have chosen to leave the country?
For those Malaysians here, I believe many of them have benefited from the Singapore system, be it in terms of education, investments of some sort or just general well-being. People trust the system in Singapore. Argue as much as we want to, but Singapore started from some shitty 3rd world fishing village to become one of the most respected 1st world country in the world. That's no mean feat. That's 50 damn solid hard work from the government and its people. For Malaysia, I see some progress. But I don't see an equal sort of success the way Singapore has achieved for reasons I've mentioned above.
Just look at Iskandar. One main reason why things are moving so slowly is that there is no demand from its own people. Funny how some Malaysian supporters argue Johor doesn't need to depend on Singapore to grow. Yet many times, we also hear contradicting views that Iskandar can grow only if the jams at the causeway/Tuas are reduced. Why say this if Singapore is not the deciding factor for Iskandar's success? Why mention the CIQ is "only 15 minutes away" from Iskandar in all your property advertisements?
If there is good demand, all the workers from other Malaysian states would have already moved to Iskandar and businesses started by now. Anyone wonder why or can give a good explanation why this is not happening? When I walked around, I don't see that progress. Or at least, it's dismally slow.
In 2012/13, there was a plot of land near my home in Singapore which had been sold for a condo development. Earlier part of this year, the TOP was reached as promised. I see many lights there. People were all moving in. There were activities. In Medini, many construction started about the same time. Till today, I see many condos still under construction. Some are barely half way through. Of those few completed, I see a ghost town area. Why?
Some people argue, I give Iskandar 10 years. It will prosper! Please don't talk about the future. That's merely hope. No one can predict what will happen. In fact, anything can happen. Let's talk about now. There must be reasons why things turn out a certain way.
As another example, just look at how the Malaysian government introduce their own property cooling measures. One of them is to increase the minimum sum foreigners have to pay for their properties. 1st it was RM500k. Then later, it became RM1mil. In contrast, the SG government introduced its own cooling measures. But noticed they don't include this ridiculous minimum price of the property. If you think deeper, you will realise it's a cunning way of locking up foreigners' capital in the properties they have bought. There is no reason why you should penalise the earlier property buyers just so that you can cool the market. The Malaysian government has already increased their Capital Gains Tax and others, so those already formed a strong deterrence.
So I think when we read all those reports saying there is "good job opportunities" in Iskandar, businesses from Singapore are already moving there due to the lower costs, it takes only 15 minutes to travel from Singapore to Iskandar, etc, just be careful. There are many untruths or incomplete facts painted there.
Based on the above, Singaporeans better off in Singapore.
No need to waste time in Malaysia. But .. Why r u here?
Now, this is not a good way to argue your point, if you have nothing better to say just sit down and keep quiet!
When you are better off and have the means, you can choose to live anywhere and why not MY?
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Ya lor. We should not look so much into the future. Just 10 years ago when I first bought my house in JB everyone was thinking I am mad. I bought a few more hoping to give my 3 sons in future which is 10 years later. Are the prices crashing? Try offering a cheque 50% of the valuation price to buy any units in Iskandar and you see if u can buy. Everyone was jumping mad when I first bought into JB They told me these properties will be zero value. 10 years later, I am sorry its not zero value.
Now these same people are still staying in their HDB flats. Not bad I must say cos for the past 20 years they save a lot of time on keeping their tiny house spick and span while I have to slog like a donkey to clean the entire house.
Again, since there are a few chaps here who are insisting that prices have crashed, I am offering Rm 300psf for a sea view condo in Imperia. Owners please PM me. I can put down payment anytime.
Now these same people are still staying in their HDB flats. Not bad I must say cos for the past 20 years they save a lot of time on keeping their tiny house spick and span while I have to slog like a donkey to clean the entire house.
Again, since there are a few chaps here who are insisting that prices have crashed, I am offering Rm 300psf for a sea view condo in Imperia. Owners please PM me. I can put down payment anytime.
Wow...I am being exposed now. I really do not have the means. LOL
I don't mind offer MYR350psf.
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I just been to PH last weekend to see the progress.
Frankly, I wont be selling my places anytime soon in the next 10 years. Been roaming around Singapore looking for the best views and bargain buys but mainly quoted S$2500 ( RM 7500 ) for a 80+ years left LEASEHOLD pathetic condos. I will be sued bankrupt if I cant repay my mortgage loans!
Frankly, I wont be selling my places anytime soon in the next 10 years. Been roaming around Singapore looking for the best views and bargain buys but mainly quoted S$2500 ( RM 7500 ) for a 80+ years left LEASEHOLD pathetic condos. I will be sued bankrupt if I cant repay my mortgage loans!
You no money, you no talk so much lah. Don't try to hou lian.
People got money, can talk more ma. Tio bo tio?
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