VEP and New Investments in Iskandar Malaysia

I want to thank Anon 8:15 for taking the time to comment on the Vehicle Entry Permit issue. Just in case some readers miss it, I'm re-posting it.

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   AnonymousJuly 16, 2014 at 8:15 AM

   I think most Singapore cars that we see in Malaysia, especially in JB are driven by Malaysian working in Singapore and travel daily. It's a push factor for Malaysians to reconsider moving into Singapore since they have to pay a much higher price now to travel by car, driving either the Malaysia/Singapore car. I think the government should study it in detail first and not implement it to "counter attack" the increase of VEP by Singapore government. If most of those affected are Malaysians, then the government is punishing it's own people for bringing in foreign currency and help boost the economy here. On top of that, it may not be good for the development of Iskandar, which, as far as I know, have been trying to pull in as much investors as possible from across the causeway.

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Some business operators at Jalan Segget, Johor Baru, that I talked to recently were also worried that their businesses would be affected if the Singaporeans were to stop coming to the city.

Most of the customers of the shops at Jalan Segget are from across the Causeway.

However, some traders remain optimistic that the Singaporeans will still come because of the currency exchange rate.

Bernama reported today that

Iskandar Malaysia secures RM9.72 bil in new investments (May to June)

Total new investments this year RM14.56 billion

JOHOR BARU: Iskandar Malaysia has secured RM9.72 billion in new investments from April to June this year, bringing a total new investments for this year at RM14.56 billion.

From 2006 until June 30, 2014, Iskandar Malaysia has secured a total cumulative committed investment of RM146.2 billion.

Of the total cumulative committed investments, RM69.53 billion, or 48 per cent, represented investments that have been realised as projects on the ground.

In a statement here today, Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin said last year, Iskandar Malaysia secured a total of RM25.33 billion worth of investments and closed the year with a total cumulative committed investment of RM131.64 billion.-- Bernama