ED 49: May-June 2013

18
CO M M E n ta r y
the improving bilateral
relations between Singapore
and Malaysia have made
Iskandar Malaysia an
emerging sweet spot for
businesses.
Central to this interest is Medini, the
flagship development of Iskandar
Malaysia, located less than an hour
away from Singapore’s Central Business
District (CBD).
Last year, cornerstone investors such
as Marlborough College and Legoland
Malaysia officially opened in Iskandar,
Malaysia. This year, the Avira and Afiniti
wellness projects were also launched in
Medini during the Malaysia-Singapore
Leaders’ Retreat in February 2013.
The growing success of Medini in
attracting key investors and property
developers alike and its popularity with
commercial and retail tenants can be
attributed to three key factors.
First, Medini offers small and mediumsized
enterprises (SMEs) a cost-effective
blended solution and dual platform for
businesses - one in Singapore whereby
high value-added business functions
can be retained; and the other in
Medini, where businesses can base
their support services to take advantage
of lower cost and tax incentives. This is
a timely consideration when companies
are concerned about rising business
costs and the tightened foreign
manpower policy in Singapore.
Second, Global Capital & Development
(GCD), the concessionary holder of
Medini, is furthering conversations with
business park operators on building
a SME business park for businesses
in sectors such as creative, finance,
professional services, healthcare and
wellness, leisure and tourism, shipping
and oil and gas. Located within the
351-acre Medini Business zone, it will
meet demands for quality business
space and an English-speaking
educated workforce by Singapore SMEs.
May | Ju n 2013
En t r E p r E n E u r s’ Di g E s t
MeDini,
a bright
Spot for
SMes
Business opportunities in the flagship
development region of Iskandar, Malaysia
GCD’s vision for a Media Village @
Medini to provide services such as
animation, video editing and sound
effects to support Pinewood Studios
was recently sealed in a landmark deal
with Link (THM) Holdings Pte Ltd. Once
completed in 2018, there will be more
than 2,000 SOHO units (Small Office
Home Office) and business suites of 1.2
million square feet available. Pinewood’s
parent company, headquartered in the
UK, is the production studio behind
works such as James Bond and
Batman. Together with Singapore’s
Mediapolis, one can see the full value
chain of media services within a
45-minute drive of each other.
Finally, recognising that the macro
and social infrastructure are key
components in attracting businesses,
employees and their families to a
new township, GCD has built power
substations, water supply facilities,
street lighting and roads to ensure the
basic essentials are provided for. One
will find Educity in Medini, a cluster of
world-class educational institutions such
as the Newcastle University of Medicine,
Raffles Institution and University of
South Hampton, which will provide for
education needs. The healthcare cluster
comprising the Gleneagles Hospital and
Colombo Hospital will provide general
and specialist healthcare needs. Many
up-and-coming facilities such as retail,
entertainment and leisure are also
starting to take shape for a complete
living experience.
This is an opportune time for SMEs
to start considering the opportunities
in Medini while educated and skilled
manpower are available and property
prices are affordable. Many associations
now organise business trips to Medini
and Iskandar Malaysia to explore such
opportunities.
In the next issue, learn about the real
issues facing SMEs such as the tax
incentives, security concerns and the
upcoming developments in Iskandar
Malaysia, post-general elections in
Malaysia. E
keith Martin
ceo
global capital & Development (gcD)