Johor Bahru: OCBC Bank (Malaysia) Bhd (OCBC Bank) has extended RM351 million in financing to See Hong Chen Group and EXSIM to support three strategic real estate developments in the Johor-Singapore Special Economic Zone (JS-SEZ).

According to BERNAMA News Agency, the financing involves a partnership between EXSIM and See Hong Chen Group for the acquisition of freehold land along Jalan Dato Abdullah Tahir, Johor Bahru, earmarked for mixed development with a gross development value of approximately RM1.8 billion. The bank has also extended financing to See Hong Chen Group to support the purchase of additional freehold land parcels in Bandar Johor Bahru.

OCBC Bank’s head of wholesale banking, Jeffrey Teoh, stated that the financing reflects the bank’s commitment to supporting sustainable development in the JS-SEZ. He highlighted the region’s potential for long-term economic growth and expressed satisfaction in aiding clients to contribute to the region’s progress. Teoh emphasized the bank’s approach to delivering value beyond traditional lending by offering integrated financial solutions through OCBC’s One Group expertise, which includes entities like Great Eastern, Bank of Singapore, and PacLease.

See Hong Chen Group’s managing director, See Cherng Jye, mentioned that the projects align with the group’s strategy to develop high-impact assets in key growth corridors. OCBC Bank operates eight branches in Johor, including in Johor Bahru, Skudai, Kulai, and Taman Molek, all situated within the JS-SEZ.