Top banks back IRDA with multi-billion ringgit financing commitment for JS-SEZ
KUALA LUMPUR: In a major stride towards realising the Johor-Singapore Special Economic Zone (JS-SEZ), the Iskandar Regional Development Authority (IRDA) has formalised Letters of Intent (LOIs) with a powerhouse lineup of local and international banking institutions, signalling robust financial commitment to the cross-border initiative.
The LOIs were signed with CIMB and Maybank, Malaysia's two largest banking groups; Sumitomo Mitsui Banking Corporation (SMBC), a leading Japanese financial giant; HSBC, a global banking heavyweight; CGS International, a key player in regional brokerage and investment services; and Bank of America, one of the world's largest financial institutions with deep expertise in investment banking and wealth management.
These strategic partnerships, sealed during the JS-SEZ Partners Dialogue held this morning in Kuala Lumpur under the theme "Advancing Facilitation", underscore the growing investor confidence in the SEZ's potential to drive economic transformation in southern Johor and beyond.
The event was officiated by Economy Minister Datuk Seri Rafizi Ramli and Johor Menteri Besar Datuk Onn Hafiz Ghazi, who both highlighted the importance of financial ecosystem readiness in ensuring the success of the SEZ initiative.
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