Johor Bahru: Malayan Banking Bhd (Maybank) has signed a letter of intent (LOI) with the Ministry of Economy to support the Johor-Singapore Special Economic Zone (JS-SEZ) and facilitate up to RM2.35 billion in client investments over the next three to 10 years.
According to BERNAMA News Agency, the LOI covers four key areas: financing support; promotion and global visibility; collaboration on events and stakeholder engagement; and research and thought leadership. Under financing support, Maybank aims to facilitate financing options, including green and Islamic financing for new technologies and infrastructure development. Additionally, they will offer comprehensive trade finance solutions, investment guarantees, and credit facilities to attract foreign direct investments.
President and group chief executive officer Datuk Khairussaleh Ramli highlighted that Maybank has launched several initiatives to position the zone as a regional hub. These include enhancing the local ecosystem by upskilling micro, small, and medium enterprises in supply chain and halal facilitation and establishing a JS-SEZ Desk to drive investments. Maybank has also played a pivotal role in supporting strategic sectors such as data centres, infrastructure, and semiconductors, facilitating the approval of the first single-family office in Malaysia and the Forest City Special Financial Zone.
At the JS-SEZ Partners’ Dialogue: Advancing Facilitation event hosted by the Ministry of Economy, Maybank facilitated the submission of LOIs by Singapore-headquartered clients: Alpine Renewables and Edible Oils Pte Ltd (Alpine), Centurion Corporation Ltd (Centurion), and Thomson Medical Group Ltd (TMG). These intended investments contribute to the development of the 11 JS-SEZ economic sectors, particularly in the green economy, manufacturing, logistics, and healthcare, aligning with the MADANI Economy’s aspirations of creating new growth engines and adding high-value jobs.
Alpine’s subsidiary, Alpine Assets Management Sdn Bhd, plans to invest approximately RM350 million over the next three years to develop a Renewable Energy Feedstock Pretreatment and Renewable Biodiesel Refinery Facilities in the Tanjong Langsat Industrial Port. The project is expected to process approximately 600,000 metric tonnes of renewable feedstock oil into biofuel finished products, reinforcing the port’s role as a major biofuel bunker supplier for the marine fuel market.
Centurion, an owner and manager of workers and student accommodation, has shown interest in investing RM300 million to RM500 million over the next five years to double its bed capacity in the JS-SEZ. This investment aims to address the priorities of employers in key sectors of the JS-SEZ for Centralised Living Quarters.
TMG has expressed a strong interest in investing up to RM1.5 billion over the next ten years to develop Thomson Hospital Iskandariah, located on a 1.5-hectare site in Stulang, Iskandar Malaysia. This development is projected to create approximately 1,500 jobs across clinical, research, specialist physicians, and support services, including healthcare technologies.