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JOHOR : Malaysia's southern Johor state is putting in place plans for a high-tech cybercity.
The multi-million US dollar project is attracting the attention of technopreneurs and investors in neighbouring Singapore.
Come mid-year, work will begin on a 150-acre cyber-township just outside Malaysia's second largest city, Johor.
Called MSC Cyberport City, the US$230 million development - to be built in three phases - is an extension of the country's Multimedia Super Corridor or MSC project mooted in 1996.
Johor is one of the four states the Multi-Media Super Corridor concept has been rolled out to - the others being Penang, Kedah and Malacca.
Cyberport Johor is banking on its low-cost structure and its proximity to neighbouring Singapore in order to attract MNCs and start-ups to set up shop there.
The Cybercity will be located near the airport in the massive South Johor Economic Zone, some two and a half times the size of Singapore.
Its sister location, Menara MSC Cyberport, was launched six months ago and is now home to over 20 software design firms, internet-based businesses and call centres.
Since the launch, Cyberport has received 100 applications for the tax-free perks and other benefits enjoyed by MSC-status companies.
Its CEO says its next focus is on shared services outsourcing, or SSO, businesses.
Ganesh Kumar Bangah, CEO of MSC Cyberport, said: "We've got about 60 companies which are foreign. They are software companies and SSO-based. Out of the 100 companies applying, about 50-60 percent are Singapore-based companies."
To sweeten the deal further, Cyberport has also tied up with Malaysian Debt Ventures to help finance suitable companies in the high-tech zone.
MDV is managing a US$420 million fund from the Japanese government.
It will finance viable projects without the need for hard collateral nor equity in the company. - CNA/de
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