Robert Kuok’s returns to Iskandar Malaysia with a Bang!

Billionaire Robert Kuok’s investment in Iskandar Malaysia is expected to further boost the economic corridor’s appeal to international investors, reported The Star.

Malaysia’s richest man and the ASEAN region’s second wealthiest has not actively invested domestically since the 1990s. In fact, he was perceived as one of the moguls who were exiting the country.

When PPB Oil Palms Bhd was injected into Singapore-listed Wilmar International Limited in 2006, the move was seen as Kuok’s “cashing out” of the country. Then on 2009, Kuok sold his sugar business — the Malayan Sugar Manufacturing company — to Felda Global Ventures Bhd.

It is also no secret, that the 89-year old Kuok based his business empire via flagships Kerry Properties Ltd and Kuok Brothers Sdn Bhd outside of Malaysia, especially in Hong Kong.

But his record-breaking land acquisition in Johor proves that he was waiting for the right time to pounce back. Moreover, his investment is also strategic as Iskandar is expected to become a metropolis that can rival Singapore and Hong Kong in the future.

Apart from his investment, Kuok has also helped Iskandar by influencing another foreign mogul to invest there by the name of Lang Walker. The Australian billionaire, who had built properties around the world, had decided to invest in Iskandar following Kuok‘s recommendations.

At present, Walker is developing a US$1.3 billion (RM3.95 billion) project in Senibong Cove, which he is jointly building with Iskandar Waterfront Sdn Bhd. This is his biggest investment outside Australia.

As of December 2012, Kuok has an estimated net worth of US$17.3 billion (RM 52.53 billion), making him the 40th richest person in the world, according to the Bloomberg Billionaires Index.

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1 Response to Robert Kuok’s returns to Iskandar Malaysia with a Bang!

  1. Pingback: Iskandar Malaysia Flagships | JB Property | Audrey Tan

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