UOB, FMM, SMF ink deal to boost manufacturing ties
PETALING JAYA: United Overseas Bank (M) Bhd (UOB Malaysia) has signed a tripartite memorandum of understanding (MoU) with the Federation of Malaysian Manufacturers (FMM) and the Singapore Manufacturing Federation (SMF) to strengthen regional economic integration and promote foreign direct investment (FDI) flows.
The bank, in a statement, said the partnership aims to strengthen the Malaysia-Singapore manufacturing corridor by leveraging UOB's regional network and expertise to help businesses, especially SMEs, expand across borders and grow sustainably.
It supports the 2025 Asean Summit's theme of inclusivity, of which Malaysia chaired and hosted, ensuring that businesses of all sizes can participate in and benefit from regional growth. The agreement also builds on the momentum of the Johor-Singapore Special Economic Zone (JS-SEZ) agreement between both governments.
UOB Malaysia CEO Ng Wei Wei said the bank is proud to be an early JS-SEZ supporter, having launched the Green Lane with Invest Johor, set up SEZ Desks, and introduced fast-track account openings.
'Since 2024, UOB has committed RM11.5bil in financing to support businesses in Johor and is actively facilitating RM10bil of FDI flows into the zone.
'Through this MoU, we look forward to working with FMM and SMF to help their members seize cross-border opportunities and contribute to Asean's industrial growth,' she said.
The MoU reflects UOB's long-term commitment to Asean's sustainable growth, aiming to promote cross-border opportunities and deepen collaboration in trade, investment, and manufacturing between Singapore and Malaysia, for stakeholders and ecosystem partners.
To support these efforts, UOB will provide advisory services, including tailored market entry and in-market guidance for FMM and SMF members. These services will help businesses navigate the financial and operational aspects of establishing a presence in Singapore, Malaysia, and across South-East Asia.
FMM president Tan Sri Soh Thian Lai said the collaboration sets the stage for more cross-border success stories under the JS-SEZ.
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