PHOTO - (from left) Datuk Noharuddin Nordin, Chief Executive Officer, Malaysian Investment Development Authority (MIDA); Datuk Ismail Ibrahim, Chief Executive of Iskandar Regional Development Authority (IRDA); and Aroop Zutshi, Frost & Sullivan Global President & Managing Partner.
Frost & Sullivan's new Global Innovation Centre (GIC) of Excellence in Iskandar, which is the result of a tripartite collaboration with government ICT agency Multimedia Development Corporation and Iskandar Development Berhad signals an investment of more than RM500 million [US$160.32 million] in Malaysia during the next seven years, said the analyst firm.
During the opening on August 29 2012, Frost & Sullivan global president, Aroop Zutshi, said, "We are very pleased to be part of the developments in Iskandar Malaysia. Frost & Sullivan believes that the development of the GIC here will be a real game changer for the future of the company."
"Our goal is to create new knowledge-based activities and develop specialised skills that will support Malaysia's goal to be a high-value, high-income nation by 2020," said Zutshi. "Frost & Sullivan has always been at the forefront in driving growth for its clients, with a range of innovative products and services tailor-made to address clients' needs. Frost & Sullivan Malaysia currently has 120 employees in Kuala Lumpur and aims to add another 830 in Iskandar by 2020."
The GIC is the result of a strategic collaboration with the Multimedia Development Corporation (MDeC) and Iskandar Investment Berhad (IIB) that was announced by the YAB Prime Minister, Dato' Seri Mohd Najib Tun Abdul Razak during the Iskandar Malaysia 5th Anniversary celebration late last year.
"The Global Innovation Centre in Iskandar will serve Frost & Sullivan's global operations and offices, providing opportunities for local employees to work on global projects," said Frost & Sullivan partner & Asia Pacific managing director, Manoj Menon. "We are committed and invested to effectively contribute and bring new competencies and skill sets into the country."
"We are constantly on the lookout for local talents to join us and the opening of our GIC will allow us to cultivate these talents," said Menon. "With our presence in Iskandar, we will be able to support our clients down south better and we look forward to a more integral role with the country, government and industry."
Frost & Sullivan's GIC will host five centres of excellence [consulting, innovation, leadership, financial, and digital media] that provide global services, thought leadership and intellectual property to the global company as well as its clients.
High value employment opportunities
MDeC chief executive officer Datuk Badlisham Ghazali said Frost & Sullivan has had more than 10 years of experience in Malaysia and is a part of the MSC Malaysia initiative. "MSC Malaysia welcomes companies who continue to look at Malaysia for future growth and bring new competencies and skill sets into the country. One example is the digital media COE, which will see content being developed in new formats for different applications."
"As a catalytic developer of Iskandar Malaysia, IIB, via our flagship project Medini Iskandar Malaysia, is committed in putting the crucial foundation in place in the quest to transform the corridor into one of the regions emerging economic powerhouse," said IIB president/chief executive officer Datuk Syed Mohamed. We believe the Frost & Sullivan GIC project is a critical component that would further add value to Medini Iskandar Malaysia; a multi-billion dollar integrated urban development, envisioned to be the pulse of Iskandar Malaysia."
Iskandar Regional Development Authority (IRDA) chief executive, Datuk Ismail Ibrahim, said: "The inauguration of the Frost & Sullivan GIC is indeed a development that Iskandar Malaysia can celebrate. The timing of the inauguration of this facility also coincides with key milestones in the development of Iskandar Malaysia. Over the next three months, we will also witness the completion of catalytic developments in the areas of education, lifestyle, and amenities, as well and key events being held here in Iskandar Malaysia."
"Since we began the planning for the development of Iskandar Malaysia about six years ago, one of the key considerations was to establish Iskandar Malaysia as a hub for high value services activities," said Ismail. "This region has a track record of producing high quality talents for Malaysia; in fact we have been 'exporting' our talents, especially the knowledge workers, to neighbouring countries."
GIC is aligned to Malaysia's ETP
During his speech, Malaysian Investment Development Authority (MIDA) chief executive officer YBhg Datuk Noharuddin Nordin said that Frost & Sullivan already has its largest Asia Pacific base in Malaysia (apart from India) with almost 130 staff. "With this new centre, Frost & Sullivan is not only committing more than RM500 million [US$160.32 million] of investment in Malaysia over the next seven years and creating about 830 high income jobs for the country by 2020, but also innovating for the world, and we are proud to be a part of this endeavour."
"This centre is also aligned with the Government's Economic Transformation Program (ETP) to increase the Gross National Income per capita of Malaysia as jobs created by this project will be at RM7,500 [US$2405] per month," said Noharuddin. "We are particularly impressed that the workforce in this knowledge driven project will be exposed to various high end research & development analytics and methodology in creating best in class content for global consumption."
He commended IRDA's role in establishing the GIC, and said, "We are looking at generating quality investments in new and emerging technologies, which are necessary to move the economy up the value chain as well as rebranding Malaysia's image as a centre for high technology and global activities."
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