only war of words....
Don't Expect Special Treatment In IDR, Singaporean Investors
Told
By Jackson Sawatan
SINGAPORE, June 30 (Bernama) -- Singapore companies intending to
invest in the Iskandar Development Region (IDR) cannot expect
privileged treatment from Malaysia just like the "generous
treatment" accorded by China to investors from Hong Kong in
Shenzhen province, Minister Mentor Lee Kuan Yew said.
"Singapore cannot expect the same treatment from Malaysia," he said
in a special interview with Berita Harian to mark the daily's 50th
anniversary tomorrow.
Lee, still an influential figure in the Singapore cabinet, said
Singapore companies must evaluate whether their presence are
welcomed at IDR as there are protests from among Umno leaders,
especially from Johor.
"On one side Pas is trying to topple the prime minister but when
Umno leaders, particularly from Johor, are also doing the same,
Singaporean investors must seriously ask themselves when this
attitude will change and whether they welcome us in IDR," he
said.
The IDR, straddling 2,217 sq km in south Johor, is a massive
project undertaken by the Malaysian government, which many
observers say will complement its ultra-modern neighbour Singapore,
just like Shenzhen to Hong Kong.
Lee said IDR could pose pressure to Singapore just like Shenzhen to
Hong Kong.
The Singapore founding father said Shenzhen was wooing industries
from Hong Kong to the province and to nearby towns.
"This has left Hong Kong with only a few manufacturing plants and
with high unemployment rate. Hong Kong's economy is now dependent
on the service sector," he told Berita Harian, the sole Malay
newspaper in the republic.
"If Singapore loses many industries to IDR, we will face serious
unemployment problem as not all factory workers can find jobs in
the service sector," he said.
He, however, said Singapore would support IDR as the two countries
are bound to gain from the multi-billion ringgit project.
"From a wider perspective, we believe it is good for the two
countries, with Malaysia savouring the spin-offs from Singapore's
economic growth, and similarly Singapore," he said.
Internal politics and protests to Singaporeans investing in IDR are
to exploit the issues and to erode support to Abdullah's leadership
and the co-operation in the development region, he added.
-- BERNAMA
http://www.bernama.com/bernama/v3/news_lite.php?id=270520
what's the good ol' MM trying to do here....
