The Business Times
business-time-50
Asean Business logo
SPONSORED BYUOB logo

Maybank CEO Khairussaleh Ramli expects cross-border money flows to sizzle as Johor-Singapore SEZ takes off

Khairussaleh says there has already been a 60% jump in cross-border transactions in 2024 from the year before

Summarise
google-preferred-sourceAdd BT as a preferred source
Tan Ai Leng

Tan Ai Leng

Published Fri, Jan 17, 2025 · 05:00 AM
    • Khairussaleh Ramli, Maybank's group president and chief executive officer, says the Corporate Renewable Energy Supply Scheme in place in the special economic zone to give businesses there access to green electricity will make it an attractive destination for sustainable and transition finance.
    • Khairussaleh Ramli, Maybank's group president and chief executive officer, says the Corporate Renewable Energy Supply Scheme in place in the special economic zone to give businesses there access to green electricity will make it an attractive destination for sustainable and transition finance. PHOTO: MAYBANK GROUP

    [KUALA LUMPUR] The Johor-Singapore Special Economic Zone (JS-SEZ) has banks rubbing their hands in anticipation of a cross-border boom, and Malaysia’s largest bank Maybank is no exception.

    The bank’s group president and chief executive officer Khairussaleh Ramli said Maybank has recorded a rise of nearly 60 per cent in cross-border transactions – 366,700 in 2024, from 229,900 in the year before.

    These transactions were facilitated by the Maybank Overseas Transfer (MOT) platform, enabling real-time fund transfers between Malaysia and Singapore at competitive rates and fees.

    MaybankJohor-Singapore SEZMalaysiaAseanAsean Business

    TRENDING NOW

    Eugene Lai (left) says that he was sharing a view with Tan Chian Khong that the board needed a refresh and that it was not an explicit direction to resign.

    CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh

    Some industry watchers wonder if Orchard Road can hold its own next to competing retail destinations, both global and local.

    What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    The exterior (left) and interior (right) views of Waterwall House, featuring glass interfaces, open voids, split levels and raw concrete walls.

    Rare brutalist Singapore house opens to the public before changing hands

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More