00:00We, as a member of the business community, we like to see continuity in policy.
00:08Especially as an infrastructure company, our investments are long term.
00:13So clarity and also continuity of policy is very, very important.
00:20This is what UEM Group Berhad Managing Director Arman Hafiz Afifudin had to say about policy continuity,
00:26calling it the most important enabler for the success of the Johor Singapore Special Economic Zone
00:31as it builds business confidence and attracts investment.
00:35FMT Managing Director Azim Abu Bakar, who moderated the session, pointed to UEM Sunrise,
00:41UEM Group's property development arm, as an example of how policy shifts had influenced investor sentiment over time.
00:49Their share price was at RM3, over RM3, which was the peak.
00:53However, I think around 2012, 2013, 2014, house prices were soaring.
01:02There were other economic issues and the government had to tighten policies for housing.
01:08We saw that the share price went down, and over the years, to RM1.
01:13And during COVID, it went down to 20 cents.
01:15But what happened also recently, when JSSZ was announced, the share price shot up from 20 cents to a dollar.
01:25He also asked what degree of policy clarity would be needed to sustain this momentum,
01:29especially in light of former Economy Minister Rafizi Ramli's resignation and the absence of a named successor.
01:35Amran also emphasized the need to build a strong talent pool in Johor and across Malaysia,
01:41but expressed confidence in the collaboration between the federal and Johor state governments with Singapore
01:46in formulating incentives to drive growth.
01:49The theme of this forum is Driving Asia's Innovation Hub.
01:54There's no talent, there's no innovation, there's no hub.
01:56We hope whatever policy that is being formulated now, and will be formulated in the future,
02:04a policy that makes doing business in JSSZ easy.
02:09Danish Roger Reza, FMT.
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