Maybank handles RM20 billion deals for Johor-Singapore Special Economic Zone
The bank is in a prime position to benefit from growth generated by the hub for both countries
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[HONG KONG] Malayan Banking said that the Johor-Singapore Special Economic Zone (JS-SEZ) will drive further expansion, with Malaysia’s biggest lender having facilitated about RM20 billion (S$6.3 billion) in financing and investments in the area in the past couple of years.
The funding has spanned all financial services segments, including corporate, mid-sized companies and consumers, Maybank president and group CEO Khairussaleh Ramli said.
Maybank has helped establish nine family offices in Johor, and its overall financing for the JS-SEZ is the biggest of any lenders involved in the development, he said.
The JS-SEZ, which was first agreed in January 2024 and formally inked a year later, is aimed at boosting investment and cross-border business between both countries.
Khairussaleh said that complementary factors between the two neighbours, especially regarding the Malaysian state of Johor bordering Singapore, will support continued growth.
The bank is in a prime position to benefit from growth generated by the zone for both countries, he added. BLOOMBERG
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