Maybank facilitates RM2.4bil investments into JS-SEZ
Maybank has signed a letter of intent with the economy ministry outlining its interest in promoting the Johor-Singapore special economic zone. (EPA Images pic)
KUALA LUMPUR : Malaysia's largest lender, Malayan Banking Bhd facilitated as much as RM2.35 billion (US$545 million) in client investments into the Johor-Singapore special economic zone (JS-SEZ) as part of efforts to promote the region.
Maybank facilitated the submission of letters of intent by Singapore-headquartered clients Alpine Renewables and Edible Oils Pte Ltd, Centurion Corp and Thomson Medical Group Ltd into the JS-SEZ, according to a statement today.
Leaders of Singapore and Malaysia in January launched the zone that links the border region of both countries.
The JS-SEZ is nearly twice the size of China's Shenzhen — the city bordering Hong Kong, whose success Malaysia is hoping to emulate with the JS-SEZ.
Maybank also said it signed a letter of intent with the economy ministry that outlines its interest in joint efforts to promote the JS-SEZ.
The bank would facilitate financing for critical new technologies and infrastructure development, and provide trade finance solutions, investment guarantees and credit facilities to attract foreign direct investments.
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