Latest news with #OCBCGroup
Straits Times
4 hours ago
- Business
- Straits Times
OCBC Group has lent $3.3b to Johor firms since 2024; $908m more expected by end-2025
The financing is part of efforts to support development in the emerging Johor-Singapore Special Economic Zone. PHOTO: ST FILE OCBC Group has lent $3.3b to Johor firms since 2024; $908m more expected by end-2025 SINGAPORE – OCBC Group has committed over RM11 billion (S$3.3 billion) in financing to businesses in Johor since the start of 2024, as part of efforts to support development in the emerging Johor-Singapore Special Economic Zone (JS-SEZ), said the group in a statement on June 22. The lender also said it expects to provide at least another RM3 billion in financing to firms there for investments in various sectors including real estate, oil and gas , manufacturing and data centres. The JS-SEZ was first mooted after an agreement was signed between Malaysia and Singapore in January, capping off negotiations that have been ongoing since the SEZ was first announced in October 2023. The agreement is set to improve the flow of goods, enable freer movement of people between Singapore and Johor, and strengthen the business ecosystem within the region. During a courtesy visit to Johor Menteri Besar Onn Hafiz Ghazi at his official residence in Johor Bahru, OCBC chief executive Helen Wong highlighted the bank's strengths in banking, insurance and wealth management. She said the bank's offerings and its extensive regional presence can contribute to the success of the JS-SEZ. Datuk Onn Hafiz said OCBC's commitment of over RM11 billion in financing to firms in Johor and the additional RM3 billion expected by the year end reflect a strong endorsement of Johor's economic direction and investment potential. 'We welcome this partnership and look forward to working closely with OCBC to unlock Johor's full potential as Asean's next economic powerhouse,' he said. OCBC Malaysia CEO Tan Chor Sen noted that 'OCBC has a strong track record of assisting foreign businesses in establishing operations in Malaysia and has facilitated the entry of new companies from various sectors, including services, construction, manufacturing, and wholesale and retail trade'. 'By leveraging OCBC's extensive international presence, particularly in Greater China, we aim to connect companies and their ecosystems with opportunities that drive growth and innovation,' he added. Join ST's Telegram channel and get the latest breaking news delivered to you.
BusinessToday
4 hours ago
- Business
- BusinessToday
OCBC Commits RM11 Billion In Financing With Another RM3 Billion For JS-SEZ
OCBC Group announced it has committed more than RM11 billion in financing to businesses in the Johor state since the start of last year. By the end of 2025, the Group expects to provide at least another RM3 billion in financing for investments into various sectors including real estate, oil & gas, manufacturing and data centres. While reiterating the Group's long-term support to JS-SEZ, Group CEO Helen Wong emphasised OCBC's One Group approach, which brings together the collective strengths of OCBC Bank, Great Eastern Holdings (its insurance subsidiary), Bank of Singapore (its private banking arm), and its leasing and wealth management capabilities. This uniquely positions the Group to support business growth and cross-border collaboration 'Having already committed over RM11 billion in financing to businesses in Johor, we are looking to further catalyse local economic activities and cross-border investments in Johor and the Johor-Singapore Special Economic Zone (JS-SEZ) through at least another RM3 billion in financing by year-end. We are honoured to have this opportunity to explore with the Johor Menteri Besar how we can build on these solid foundations and leverage the full capabilities of the OCBC Group's extensive regional franchise to contribute to the success of the JS-SEZ. Johor MB Dato' Onn Hafiz, in welcoming the delegation, said 'On behalf of the Johor State Government, I express my deepest appreciation to the OCBC Group for its strong and unwavering commitment to the JS-SEZ. The Group's commitment of over RM11 billion in financing with at least RM3 billion more by year-end reflects a strong endorsement of Johor's economic direction and investment potential. We welcome this partnership and look forward to working closely with OCBC to unlock Johor's full potential as ASEAN's next economic powerhouse,' he said. Related
The Star
5 hours ago
- Business
- The Star
OCBC commits RM11bil, aiming to add RM3bil to boost Johor's economy
KUALA LUMPUR: OCBC Group has committed over RM11bil in financing to Johor businesses since early last year, as part of its support for the Johor-Singapore Special Economic Zone (JS-SEZ). 'By the end of 2025, the group expects to provide at least another RM3bil in financing for investments into various sectors including real estate, oil & gas, manufacturing and data centres,' the bank said in a statement. OCBC Group chief executive officer Helen Wong said the bank has a long history in Johor, with its first branch in the state established in 1917. She said OCBC now operates eight branches in Johor, out of a total of 38 across Malaysia. 'Having already committed over RM11bil in financing to businesses in Johor, we are looking to further catalyse local economic activities and cross-border investments in Johor and JS-SEZ through at least another RM3bil in financing by year-end. 'We are honoured to have this opportunity to explore with the Johor Menteri Besar how we can build on these solid foundations and leverage the full capabilities of the OCBC Group's extensive regional franchise to contribute to the success of the JS-SEZ,' Wong said. Meanwhile, Johor Menteri Besar Datuk Onn Hafiz Ghazi said the bank's commitment of over RM11bil in financing — with at least RM3bil more expected by year-end — reflects strong confidence in Johor's economic direction and investment potential. 'We welcome this partnership and look forward to working closely with OCBC to unlock Johor's full potential as Asean's next economic powerhouse,' he added.
Barnama
8 hours ago
- Business
- Barnama
OCBC Commits RM11 Bln Financing, Another RM3 Bln By End-2025 For JS-SEZ
BUSINESS JOHOR BAHRU, June 22 (Bernama) -- 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). The bank in a statement today said it 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 said the group has a long history in Johor dating more than a century, with OCBC Malaysia's first branch established in Johor in 1917. Today, the group operates eight branches in the state, out of 38 branches across Malaysia, she added. While reiterating the group's long-term support to JS-SEZ, Wong emphasised that OCBC's One Group approach, which brings together the collective strengths of OCBC Bank, Great Eastern Holdings (insurance subsidiary), Bank of Singapore (private banking arm), and leasing and wealth management capabilities, uniquely positions the group to support business growth and cross-border collaboration. The commitment announcement was made during a courtesy visit by Wong along with senior executives of OCBC Group to Johor Menteri Besar Datuk Onn Hafiz Ghazi at his official residence in Saujana here. Welcoming the move, Onn Hafiz described OCBC's commitment as a vote of confidence in Johor's investment climate. 'The Group's commitment of over RM11 billion, with another RM3 billion targeted by year-end, reflects strong private sector support for our economic vision. We look forward to deepening this collaboration,' he said. Meanwhile, OCBC Bank (Malaysia) Bhd CEO Tan Chor Sen said 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.
New Straits Times
12 hours ago
- Business
- New Straits Times
OCBC pledges over RM11bil financing to support Johor-Singapore SEZ
KUALA LUMPUR: OCBC Group has pledged over RM11 billion in financing to businesses in Johor since the beginning of last year, as part of its support for the development of the Johor-Singapore Special Economic Zone (JS-SEZ). The bank expects to extend at least RM3 billion more in financing by year-end to support investments across various sectors. This includes real estate, oil and gas, manufacturing and data centres. OCBC Group chief executive officer Helen Wong said it has a longstanding presence in Johor, with its roots in the state going back over a century. The first OCBC Malaysia branch in Johor was established in 1917, and the bank now operates eight branches in the state, out of a total of 38 nationwide. "Having already committed over RM11 billion in financing to businesses in Johor, we are looking to further catalyse local economic activities and cross-border investments in Johor and the JS-SEZ through at least another RM3 billion in financing by year-end. "We are honoured to have this opportunity to explore with the Johor Menteri Besar Datuk Onn Hafiz Ghazi how we can build on these solid foundations and leverage the full capabilities of the OCBC Group's extensive regional franchise to contribute to the success of the JS-SEZ," she said. Onn Hafiz said OCBC's RM11 billion financing commitment, along with plans to inject at least RM3 billion more by the end of the year, demonstrates strong confidence in Johor's economic trajectory and investment prospects. "We welcome this partnership and look forward to working closely with OCBC to unlock Johor's full potential as Asean's next economic powerhouse," he said.
