Founded 2006 | ||
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Subsidiaries Iskandar Harta Holdings Sdn Bhd | ||
Iskandar Investment Berhad (Malay: Syarikat Permodalan Iskandar), formerly known as South Johor Investment Corporation Berhad was formed on 2 November 2006. Heads of Agreement was signed to form a new company to drive the development of catalyst projects (previously referred to as "super developer"), the Iskandar Investment with an eventual shareholding structure of Khazanah Nasional (60%), EPF (20%) and Kumpulan Prasarana Rakyat Johor Berhad (KPRJ) (20%), a company wholly owned by the Johor State Government. The definitive agreements were signed on 19 December 2006 and is expected to be completed in May 2007.
Iskandar Investment Berhad (IIB) will be set up with total assets of approximately RM3.4bn of land and cash at the outset. It will also own a significant land bank in South Johor through various subsidiaries and Joint Venture companies which will be created in the future. As a company wholly owned by Federal and State government investment agencies, IIB will lead the implementation of various strategic and catalyst Iskandar Malaysia initiatives including implementing of some of the major Ninth Malaysia Plan projects within the Iskandar Malaysia through various Special Purpose Vehicles and partnerships with the private sector.
Datuk Syed Mohamed Syed Ibrahim is the President and CEO of Iskandar Investment Berhad. IIB will also own a significant land bank in South Johor through various subsidiaries and Joint Venture companies which will be created in the future. Iskandar Investment will lead the implementation of various strategic and catalyst Iskandar Malaysia initiatives including implementing of some of the major Ninth Malaysia Plan projects within the Iskandar Malaysia through various Special Purpose Vehicles and partnerships with the private sector.
IIB does this by investing in selected strategic and catalytic initiatives through shareholding stakes in joint ventures or contribution of land either through sale or lease or granting of a concession or development rights. The mission of Iskandar Investment is to deliver sustainable value as they transform Iskandar Malaysia into a strong, sustainable conurbation of international standing