JOHOR BARU, MALAYSIA - Brunei Investment Group, which represents the oil-rich sultanate's key economic interests, is likely to join the ranks of major investors in Iskandar Malaysia.

Prime Minister Datuk Seri Abdullah Ahmad Badawi said the Sultan of Brunei, Sultan Hassanal Bolkiah had shown keen interest in the progress of the development corridor and indicated the possibility of making investments.

Sultan Hassanal Bolkiah, who was here for the two-day annual leaders' consultation between Brunei and Malaysia, was yesterday given a progress briefing of Iskandar Malaysia and a tour of the development corridor.

"The sultan seems to be very pleased with what he was told about the development corridor's progress and had indicated strong possibilities of Brunei investing there," Abdullah said, after a sending-off ceremony for Sultan Hassanal at the Senai Airport.

He said a team from Brunei Investment Group would visit Iskandar Malaysia soon for a definite assessment on the potential investment opportunities.
"Another team from the group came here earlier and their initial assessments of Iskandar Malaysia was part of the reason why the sultan had chosen to come here to have a personal look at the progress of the development corridor."

Abdullah said the sultan had expressed a positive view about the development corridor.

Sultan Hassanal had during his tour of the development corridor yesterday shown particular interest in the bio-technology investment section of Iskandar Malaysia. It was learnt that an investment in that field could amount to RM5 billion.

Besides Abdullah, the sultan was accompanied at the briefing and tour by Johor Menteri Besar Datuk Abdul Ghani Othman and Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad.

On the sultan's visit, Abdullah said it was a success as both countries had come to an agreement to settle outstanding bilateral issues in an amicable manner, particularly on the overlapping claims along their common land and maritime border.

The agreement would be sealed in an exchange of letters at a later date.

Brunei had laid claims on several border areas with Sarawak, such as Limbang.

It is also one of many nations, including Malaysia, to lay claim to the disputed Spratly Islands.

Several small islands located between Brunei and Labuan, including Kuraman island, are contested between Brunei and Malaysia despite these being internationally recognised as part of Malaysia.

Sultan Hassanal and his entourage attended a luncheon hosted by the Sultan of Johor at Istana Bukit Serene before their departure.