ISKANDAR PUTERI: Global Business Services (GBS) Iskandar, which is under the purview of i2M Ventures Sdn Bhd, is set to capitalise on the Malaysian government's upcoming promotion of the GBS sector under Budget 2017.

GBS Iskandar, which was officiated in April 2016, has already achieved RM1.2 billion in invested by attracting eight multinationals so far, most recently Vistra SB in September, to support the multinational's operations in Singapore.

Meanwhile, another Singapore-listed company is expected to announce the opening of a centre of excellence in Iskandar Puteri to support the ASEAN region, managing director Zulfiqar Zainuddin told reporters during a media tour here today. He declined to give further details on the announcement, which is slated for early December.

i2M, which is a wholly-owned subsidiary of Khazanah Nasional Bhd, was established in 2013 to facilitate the relocation of GBS operations to Iskandar Puteri. However, it has since found the need to take on a more active role in engaging stakeholders such as the Malaysian Investment Development Authority (MIDA), the Malaysian Digital Economy Corporation (MDEC), TalentCorp and Outsourcing Malaysia.

i2M is also targeting to set up talent reskilling and upscaling centres, for which it aims to finalise plans within the next 3 to 6 months.

i2M was established in 2013, with a target of RM6.5 billion in investments and 14,000 high value jobs by 2020.

Source: The Edge Markets