One task is to explain that companies operating in the MSC are exempt from Malaysia's currency controls. As a result, Malaysia has just two locally owned ISPs. The biggest beneficiary of Malaysia's problems has been Singapore, where Prime Minister Goh Chok Tong has quietly pushed forward with plans to attract multinationals. Sun Microsystems, for example, is devoting far more resources to Singapore. It has a much more developed, thoughtful implementation and vision.'' Hong Kong, too, is now trying to steal Malaysia's thunder.
Shanghai also has high-tech plans.
The government insists it is proceeding with the projects, albeit more slowly. But with money now harder to come by, some noncore elements of the MSC seem wasteful. It's been a misallocation of resources,'' he says. Multinationals are feeling the pinch, too. The government forced a consortium led by Fujitsu Ltd. to cut its bid significantly to win a contract for an electronic system that will allow bureaucrats in Kuala Lumpur to monitor infrastructure projects.