Khazanah unit i2M eyes RM6.5bil in investments in GBS sector

28 Nov 2016 - The Star Online
ISKANDAR PUTERI: Khazanah Nasional Bhd’s wholly-owned subsidiary i2M Ventures Sdn Bhd (i2M) is targeting RM6.5bil investment from its Global Business Services (GBS) programme.

Managing director Zulfiqar Zainuddin said the programme, which was started about three years ago, has managed to attract seven local and multinational companies (MNCs) bringing RM1.2bil in investment. The seven were Frost & Sullivan, Day Three (formerly Kannal Outsourcing), Brandt International, IDM Lab, Nityo ICOE, Vision Technology Consulting and Odinsoft.

“We are receiving a Singapore public-listed company to invest in the GBS sector in Iskandar Puteri here,’’ he told reporters in a media briefing recently.

Zulfiqar said the seven local and MNCs created some 2,300 professional jobs within the business services and shared services outsourcing sector in Iskandar Malaysia and by 2020, the number would go up to 14,000 jobs.

In September 2016, the first MNC, Vistra SB, announced that the company would set up a business process outsourcing centre of excellence dedicated to support its operations in Singapore.

Zulfiqar said the announcement on the investment by the Singapore company during an annual retreat between Prime Minister Datuk Seri Najib Tun Razak and his Singapore counterpart Premier Lee Hsien Loong in Iskandar Malaysia next month.

He said during the retreat, Najib would also announce the GBS Iskandar as one of the promoted sectors in Iskandar Malaysia under its Comprehensive Development Plan (CDP2006-2025) replacing the financial services sector.

“The announcement will give us a shot in the arms to further promote and attract domestic and MNCs involve in the GBS from all over the world to set up their operations in Medini here,’’ said Zulfiqar.

GBS Iskandar is an initiative by i2m and it is a specialised programme to facilitate businesses to locate GBS operations in Iskandar Puteri, Iskandar Malaysia.

Companies will be able to enjoy expert facilitation in order to meet their GBS location requirements, covering key areas such as talent, infrastructure, liveability and incentive provided by GBS Iskandar.