Maybank mobilises $4.7 bn to boost Johor–Singapore Special Economic Zone
Maybank is facilitating more than 15 billion Malaysian ringgit ($4.7 billion) of investments into the Johor–Singapore Special Economic Zone
KUALA LUMPUR, Malaysia (MNTV) – Maybank is facilitating more than 15 billion Malaysian ringgit ($4.7 billion) of investments into the Johor–Singapore Special Economic Zone (JS-SEZ) through a combination of committed financing and interest from clients, reports The Business Times.
Malaysia’s largest lender by assets, Maybank said the support comprises around 10 billion Malaysian ringgit ($2.42 billion) in committed financing and up to 5.35 billion Malaysian ringgit ($1.30 billion) in investment interest through letters of intent (LOIs) from clients over the next three to 10 years.
These clients span small and medium-sized enterprises (SMEs), mid-cap companies and multinational corporations involved in priority sectors such as high-value manufacturing, digital services, healthcare, logistics and food security.
As part of its financing roll-out, Maybank has also offered funding totalling 120 million Malaysian ringgit ($29 million) to five Johor-based companies.
They are electronic manufacturing services provider Cape EMS, construction company Haily Construction, plastic packaging supplier NES Packaging, mechanical and electrical contractor MCH M&E, and precision equipment manufacturer TSH Manufacturing Solution.
Maybank also set up its 67th touchpoint in Johor with the launch of its Forest City Service Centre earlier this week. It was officiated by the state’s Chief Minister Onn Hafiz Ghazi and the lender’s president and group chief executive officer Khairussaleh Ramli.
Khairussaleh said the bank has spent the last two years collaborating with agencies and regulators in both Malaysia and Singapore to strengthen SME supply chains and attract investments aligned with JS-SEZ priorities.
The latest service centre “reinforces our commitment” to the JS-SEZ and Forest City Special Financial Zone (FCSFZ), he added.
“Together with stakeholders, our vision is to position both zones as a gateway to invest and trade in Asean – boosting competitiveness, resilience and regional integration.”
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