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Three Companies in Iskandar, Malaysia

3It seems like for many property-crazy Singaporeans, the talk of the town these days is investing in property in Iskandar – Malaysia. With property prices rising rapidly in Singapore, there are some who turn to Iskandar. Let’s look at three locally-listed companies that have a set-up in Iskandar or are looking to expand into Iskandar.

The first company is Tiong Seng Holdings Limited (SGX: K2P). Tiong Seng is a construction firm that was involved in the development of One Marina Boulevard, St. Regis Hotel, and the Marina Bay Financial Centre. The company recently clinched an approval to build a new $15.6 million precast plant in Iskandar. The new facility will help enhance the company’s precast materials production capacity by around 60%. The new plant, which will be located on a 5.57 hectare piece of land, will be complimentary to its current precast plant at Tuas and allows the company to accept bigger orders from its customers.

The next company in line is Tat Hong Holdings Limited (SGX: T03), which is another construction firm. It is largest crawler crane company in the world, supplying cranes and heavy equipment to various industries. At end of last year, Tat Hong announced that it has incorporated an indirect 100%-owned company, Tat Hong Industrial Properties Sdn Bhd (THIP), in Malaysia. THIP will be the vehicle that the Company intends to use for the acquisition of two plots of land totalling approximately 9.9 acres in Iskandar Malaysia. Tat Hong plans to develop the land for multi-purpose industrial use and for investment purposes.

The last company to be featured is Kingsmen Creatives Limited (SGX: 5MZ). Kingsmen is involved in designing and fitting out of retail shops; creating permanent and temporary installations for theme parks, events, and exhibition spaces. Kingsmen was an early mover into Iskandar, and has been there since 2006. The company currently rents a 200,000 sq ft workshop space in Senai Industrial Park II. The close proximity to Singapore and low labour and rental costs attracted Kingsmen to expand into the Iskandar region. However, Simon Ong, the managing director of Kingsmen, noted that the rental costs have slowly been creeping up. He has stated that Kingsmen is looking to expand in Iskandar itself if the opportunity presents itself.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P owns shares in Kingsmen.