CIMB commits RM10 billion to power cross-border growth in Johor-Singapore Special Economic Zone
MALAYSIA: CIMB Group Holdings Berhad has committed RM10 billion (S$2.98 billion) in funding facilities aimed to improve growth in the Johor-Singapore Special Economic Zone (JS-SEZ). With the JS-SEZ poised to become a cornerstone of Malaysia-Singapore economic cooperation, CIMB's investment underscores growing private sector confidence in the zone's potential.
'The JS-SEZ represents a transformative move in regional economic collaboration, deepening connectivity and unlocking new avenues for sustainable growth between Malaysia and Singapore while strengthening the region's resilience against global uncertainties,' said Novan Amirudin, Group Chief Executive Officer, CIMB Group.
This substantial financing pledge, one of the largest to date from a regional bank, puts CIMB at the forefront of ASEAN's next wave of economic integration, aligning capital with infrastructure and policy to fast-track cross-border business. ASEAN Financial Passport: Turning vision into action
At the heart of CIMB's initiative is the launch of its ASEAN Financial Passport, a platform designed to offer businesses seamless cross-border banking support across every stage of growth. It is expected to include regulatory expertise, simplified account onboarding for clients from Malaysia and Singapore, and banking solutions such as SMEBizReady, GreenBizReady, HalalBizReady, and remittance services.
CIMB is seeking to position itself not only as a lender but also as a partner for businesses navigating the complexities of cross-border expansion by delivering end-to-end support. The passport is not just conceptual but a tangible enabler in making the JS-SEZ operational.
'As a leading ASEAN-focused financial institution, we are committed to our purpose of advancing customers and society… backed by our strong on-ground presence in both Johor and Singapore,' said Novan. Empowering SMEs in an uncertain world
While the JS-SEZ is expected to attract high-value investments and multinationals, CIMB's move also seeks to empower small- and medium-sized enterprises (SMEs) by providing tools and support systems that help them scale, optimise costs, and boost production efficiency—particularly in sectors like manufacturing, digital economy, halal trade, and sustainable development. This is particularly important in an increasingly destabilising status quo.
The move could dramatically lower regional SMEs' barriers to entering new markets, tapping into ASEAN's 660-million-strong consumer base. Operational muscle to match ambition
To ensure execution matches intent, CIMB has mobilised a dedicated team of 30 bankers across Singapore and Malaysia. With 28 branches in Johor, six of which are able to serve clients from JS-SEZ, the bank is also exploring locations near the upcoming Johor-Singapore Rapid Transit System (RTS) checkpoints to better serve cross-border traffic.
Beyond financial services, CIMB is actively building the business ecosystem through foreign direct investment (FDI) and domestic direct investment (DDI) partnerships, client familiarisation visits, and thematic seminars covering legal, regulatory, and tax frameworks.
These business matching and market access platforms are central to CIMB's approach as a regional enabler. It seeks to bridge the gap between investors, government stakeholders and on-ground opportunities. Public sentiment: Optimism across the Causeway
The project also made netizens from both countries optimistic, with many users showing hope and pride in the shared vision. 'As a S'porean, I hope this becomes successful. It's important to have good friends and neighbours we can count on,' noted one netizen.
Another user commented that they foresee a bright future for the two collaborating countries, stating , 'I have high confidence that this project will work and will benefit both countries in the near future. Let's go , Singapore and Malaysia!'
'Singapore and Malaysia, given how much they have in common, can be a prime example for the world of how strong and mutually beneficial bilateral ties can be.'
These opinions show the growing belief that the JS-SEZ is not just a strategic platform for economic cooperation but a symbol of enduring regional solidarity. A strategic catalyst for ASEAN's future
CIMB's commitment marks an important step in making the vision for JS-SEZ a reality. As the public and private sectors converge around this shared vision, the bank's RM10 billion commitment and ASEAN Financial Passport platform represent more than financial support; they signify that ASEAN's economic architecture is maturing, with integrated solutions emerging to support cross-border enterprise.
In a region where political goodwill has often outpaced on-the-ground tools, CIMB's initiative may well become the benchmark for how institutions can drive meaningful regional cooperation.
Read also: Johor turns to Singapore's NIE to raise school standards and curb brain drain
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Personal loan Interest rate and Effective Interest Rate (EIR) Processing fee Monthly repayment Eligibility DBS/POSB Personal Loan 1.99% (EIR 4.17%) 1% $294 – Singaporean/PR– Foreigners with existing Cashline and/or Credit Card account– Min. $20,000 annual income – Existing DBS/POSB customers Trust Instant Loan 2.22% (EIR: 4.22%) 0% $296 – Singapore Citizen/PR: $30,000– Foreigner: $60,000 – Must have a Trust credit card CIMB Personal Loan 2.68% (EIR 5.06%) 0% $319 – Singapore Citizen/PR: $20,000 – Malaysian (residing in SG): $30,000 UOB Personal Loan 2.88% (EIR 5.43%) 0% $302 – Singapore Citizen/PR: $30,000 – UOB Credit Card/CashPlus customer Standard Chartered CashOne 1.90% (EIR: 3.63%) 0% $294 – Singapore Citizen/PR: $30,000 – Foreigner (with EP): $90,000 GSX FlexiLoan 2.88% (EIR 5.45%) 0% $303 – Singapore Citizen/PR: $20,000 HSBC Personal Loan 2.20% (EIR: 4.00%) 0% $296 – Singaporean/PR: $30,000 (salaried workers)$40,000 (self-employed or commission-based workers) – Foreigner (with EP): $60,000 Citi Quick Cash with Ready Credit (New Customers) 3.45% (EIR: 6.50%) 0% $306 – Singaporean/PR: $30,000– Foreigner: $42,000 Applicable to new Citi Credit Card or Citibank Ready Credit account holders only. 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OCBC ExtraCash Personal Loan While the OCBC ExtraCash Personal Loan has the highest interest rates (from 5.42 per cent p.a. / EIR from 10.96 per cent p.a.) on this list, it does come with some perks that might make it a solid choice for some. If you need a large loan, you can borrow up to six times your monthly income, with fixed repayments spread over 12 to 60 months. Like many of the other loans mentioned, it offers fast disbursement when you sign up via Myinfo. Plus, it has a relatively low entry requirement — just $20,000 in annual income for Singaporeans and PRs. You'll also be able to easily see a full breakdown of all your outstanding payments via internet banking. However, punctual repayments are a must. A late payment will set you back $80, and if you decide to restructure or repay early, you'll be charged a three per cent fee on your outstanding balance. So, be sure of your loan tenure before committing! Cheapest personal loans – Standard Chartered CashOne personal loan– Trust Instant Loan – DBS or POSB Personal Loans – HSBC Personal Loan Personal loans with fastest disbursement – Trust Instant Loan– UOB Personal Loan– GXS FlexiLoan – CIMB Personal Loan Personal loan with longest repayment tenure – HSBC personal loan Personal loans to consider if you want to take a huge amount – Standard Chartered CashOne personal loan – OCBC ExtraCash Personal Loan Whatever personal loan package you choose, opt for the smallest loan amount and shortest term you can comfortably manage. This will keep your interest payments to a minimum. Remember that the actual interest rate a bank offers you will depend on factors like your credit history, how much you want to borrow and for how long. So if you don't get offered the lowest advertised interest rates with one bank, you might want to compare that with what the other banks are willing to offer you. 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We usually recommend these loans because they have much lower interest rates. You can pay back slowly and steadily at a pace comfortable to your financial situation. Many banks also offer a personal line of credit — sometimes called a credit line, revolving loan, or even "flexible repayment loan". This is a pre-approved amount of money you can cash out in part or whole, but you need to repay it ASAP or else face sky-high interest rates. Don't fall for it unless you're absolutely confident you can pay the money back immediately. These days, most banks base their personal loans on either your personal line of credit or credit card limit. So you will need either a credit card or credit line to get the loan. However, it is still considered a term loan if it comes with a structured repayment plan. But before you sign up, understand that your credit cards with this bank will be as good as dead because you'll have effectively "spent" your credit on a cash loan. 14. 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