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Iskandar Investment Signs Facilitation Fund Agreement for The Missing Link

Iskandar Investment Berhad (“IIB”) today signed the Facilitation Fund Agreement (“FFA”) between the Government of Malaysia and Bank Pembangunan Malaysia Berhad (“BPMB”) to enable the construction of the Coastal Highway Southern Link (“CHSL”) which is the final stretch connecting the Coastal Highway to the Second Link Expressway.

The FFA is another key milestone for Iskandar Malaysia and a successful model for the Government’s Public Private Partnership initiatives in Malaysia.

It was signed by Datuk Syed Mohamed Syed Ibrahim, President and CEO of IIB; Dato’ Ahmad Husni bin Hussain, Director General of UKAS; and Zakaria Saad, Head of Business Banking at BPMB. The signing ceremony was witnessed by YB Senator Dato’ Sri Abdul Wahid Omar, Minister in the Prime Minister’s Department and Tan Sri Dato’ Azman bin Hj. Mokhtar, Chairman of IIB.

This new 5.2km highway will traverse the proposed Gerbang Nusajaya South development, Kg. Tiram Duku Kiri, Kg. Bukit Kuching, proposed Sunway Iskandar development and Leisure Farm, hence providing a direct connection from the Second Link Expressway to Medini – the CBD of Nusajaya. This CHSL Project will reduce the travelling distance from the Second Link to Medini by approximately 10km. Travel time from the Sultan Abu Bakar Custom Immigration and Quarantine (“CIQ”) Checkpoint at the Second Link to Medini will be a mere 5 minutes via this proposed linkage.

Commenting on the signing, Datuk Syed said, “We are grateful to have the backing and support of both the federal and state government as it sends a strong message to investors on our efforts in transforming Iskandar Malaysia into a liveable city; a thriving investment destination.”

With the enhanced road network connectivity, the CHSL Project is expected to be another catalyst to attract more investments into Iskandar Malaysia.

Four parties signed an agreement for the Infrastructure Cost Sharing Agreement (“CSA”) prior to the inking of the FFA, which marked the collaboration between IIB, UEM Sunrise Berhad (“UEM Sunrise”) through its wholly-owned subsidiary Nusajaya Rise Sdn Bhd (“NRSB”), Sunway Iskandar Development Sdn Bhd (“SIDSB”) and Mulpha International Berhad (“MIB”).

The Project is scheduled to be completed in the second quarter of 2017.