Press Release 2007

MSC Cyberport To Develop 150 Acre MSC Malaysia Area Signs MoU With Malaysia Debt Ventures

The Johor State Government today signed a Joint Venture Agreement with Cyberport Holdings Sdn. Bhd. (CHSB) and Kumpulan Prasarana Rakyat Johor Sdn. Bhd. (KPRJ), a 100% owned subsidiary of the State Government of Johor to develop a 150 acre MSC Malaysia location within the Iskandar Development Region.

The development of the area will be driven by MSC Cyberport Sdn. Bhd. which will be 30% owned by KPRJ and 70% owned by CHSB. MSC Cyberport Sdn. Bhd. will also be responsible for implementing other ICT Programs outlined in the Johor State ICT Blueprint which include the present MSC Cybercentre in Menara MSC Cyberport, Johor and E-Local Government implementations for all Local Authorities in Johor.

The Johor State Government was represented by the Menteri Besar of Johor, Y.A.B. Dato' Haji Abdul Ghani Bin Othman and the State Secretary, Y.B. Dato' Haji Abdul Latiff Bin Yusof while Cyberport Holdings Sdn. Bhd. was represented by its Chairman, Salikon Bin Sarpin and Kumpulan Prasarana Rakyat Johor was represented by its Chief Executive Officer, Johar Bin Salim.

Y.A.B. Dato' Haji Abdul Ghani bin Othman, Menteri Besar of Johor said in his remarks that the roll-out of MSC Malaysia to Johor is one of the key initiatives within the Iskandar Development Region. According to him, the investment in infrastructure within the Iskandar Development Region would further enhance the position of MSC Cyberport Johor as a Global ICT Hub.

MSC Cyberport Sdn. Bhd. also signed an MoU with Malaysia Debt Ventures Berhad (MDV) to assist in providing financing for suitable local and international companies which are located or are planning to relocate to MSC Cyberport Johor. MDV is the manager of a RM1.6 billion (USD420 million) fund that provides alternative sources of financing for knowledge intensive start-up enterprises where only ideas (intangible collateral) are principle assets of an enterprise.

For the MoU, MSC Cyberport Sdn. Bhd. was represented by its CEO, Mr. Ganesh Kumar Bangah while MDV's CEO/MD, Encik. Md. Zubir Ansori bin Yahaya signed on behalf of his organization. The MoU signing was witnessed by the Menteri Besar.

In his speech, Mr. Ganesh said that since launch in August 2006, MSC Cyberport Johor has attracted more than 100 ICT companies to apply for MSC Malaysia status and targets to convert at least 80% of these companies into MSC Malaysia companies within the next 6 months.

Encik. Md. Zubir Ansori bin Yahaya, said his company's key role in this agreement would be as Project Financiers. It would also provide guidance, management assistance and networking to companies in their portfolio to nurture start-ups into becoming competitive businesses.

In conjunction with the agreement-signing ceremonies, a seminar on Business, Funding & Cost Saving Opportunities within MSC Cyberport Johor was also held.

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