Singaporean businessman Peter Lim's Soverus Group and son of the Sultan of Johor, Tunku Abdul Rahman have teamed up to set up a premium security business in Iskandar, Malaysia.
Soverus, a security solutions company in Singapore, had signed an MoU on Friday to tap into the growing demand in Iskandar for good and reliable private security services, including both armed and unarmed guarding.
"Soverus will initially focus its attention on Iskandar, which is gearing up to receive an influx of new foreign investors and residents. It plans to eventually expand to other parts of Malaysia through organic growth and acquisitions," it said.
Soverus' initial business focus was to provide guarding services. Since then, it has expanded to provide security solutions, consultancy, systems solutions, security tagging, cyber-security, big-data analytics, IT forensics and private investigations.
Its guarding services were awarded the highest 'A' Grade by the Singapore Police Force from 2012 to 2014. Its clientele includes blue-chip companies and government agencies.
Lim said he and Tunku Abdul Rahman's military background and personal interest in security-related issues, would ensure their partnership's success in Iskandar and eventually, the rest of Malaysia.
"There is a growing demand for security services in the Iskandar region and we are optimistic about the huge business potential there," said Lim, who held key positions during his 19-year career in the Singapore Police Force.
Iskandar covers 2,217 sq km, about 3 times the size of Singapore. It offers competitively-priced land and ready infrastructure such as power utilities, transportation networks and services, and broad based telecommunications.