Johor Bahru: OCBC Group has committed more than RM11 billion into businesses in Johor since early 2024, as part of its commitment to support the development of the Johor-Singapore Special Economic Zone (JS-SEZ).
According to BERNAMA News Agency, the bank announced plans to extend an additional RM3 billion in financing by the end of 2025 to support investments in key sectors such as real estate, oil and gas, manufacturing, and data centres within the JS-SEZ.
OCBC chief executive officer (CEO) Helen Wong highlighted the group’s long-standing history in Johor, with OCBC Malaysia’s first branch established in the state in 1917. Currently, OCBC operates eight branches in Johor, out of a total of 38 branches across Malaysia.
Wong reiterated the group’s long-term support for the JS-SEZ and emphasized OCBC’s One Group approach, which integrates the strengths of OCBC Bank, Great Eastern Holdings, Bank of Singapore, and its leasing and wealth management capabilities. This approach positions the group to support business growth and cross-border collaboration effectively.
The commitment announcement was made during a courtesy visit by Wong and senior executives of OCBC Group to Johor Menteri Besar Datuk Onn Hafiz Ghazi at his official residence in Saujana.
Onn Hafiz welcomed OCBC’s commitment, describing it as a vote of confidence in Johor’s investment climate. He expressed anticipation for deepening collaboration, noting that the commitment reflects strong private sector support for the region’s economic vision.
OCBC Bank (Malaysia) Bhd CEO Tan Chor Sen noted that the group had already taken proactive steps to promote the JS-SEZ to global investors, even before the formal agreement was signed in January 2025. This includes engagements with key stakeholders such as Iskandar Regional Development Authority, Malaysian Investment Development Authority, and Invest Johor.
Tan added that OCBC’s extensive global network, particularly in Greater China, positions it well to facilitate inbound investment and business expansion into Malaysia.
Great Eastern Life Assurance (Malaysia) Bhd CEO Datuk Koh Yaw Hui emphasized that Great Eastern, as part of the OCBC Group, is well-positioned to support the initiative through a range of life, general, and takaful insurance offerings aligned with the region’s economic development.
The JS-SEZ is a flagship bilateral initiative aimed at enhancing cross-border trade, investment, and infrastructure development, focusing on high-impact and innovation-driven sectors.