Latest news with #RM2.35
New Straits Times
20-05-2025
- Business
- New Straits Times
Supercharging special economic zone
KUALA LUMPUR: Malaysia has partnered with six local and global financial institutions to drive investments and financing support for its special economic zone in Johor. The banks are Malayan Banking Bhd (Maybank), CIMB Group Holdings Bhd, Bank of America, HSBC, Sumitomo Mitsui Banking Corp and CGS International Securities. They inked Letters of Intent (LoIs) with the Economy Ministry on Monday, outlining interests in joint efforts to supercharge the Johor-Singapore Special Economic Zone (JS-SEZ). Malaysia and Singapore established JS-SEZ in January, looking to boost investment and ease the movement of goods and people between the neighbours. Malaysia aims to get 50 high-value projects off the ground and create 20,000 high skilled jobs at the zone within the next five years. Economy Minister Datuk Seri Rafizi Ramli said talks are being held with a European-based bank as the country looks to rope in more partners to promote the cross-border initiative. Rafizi said these partnerships, sealed during the JS-SEZ Partners Dialogue here, underscore the growing investor confidence in the SEZ's potential to drive economic transformation in southern Johor and beyond. Maybank became the first bank to come up with potential investments from its clients. The bank supports up to RM2.35 billion in potential investments through LoIs submitted by four Singapore-based firms. The four are Alpine Renewables, Edible Oils Pte Ltd, Centurion Corporation Ltd and Thomson Medical Group Ltd (TMG). "These LOIs signal confidence in the JS-SEZ's strategic value," Maybank president and group chief executive officer Datuk Khairussaleh Ramli said in a statement. "Maybank takes a long-term view of the zone's success and actively promotes broad-based participation from MSMEs to mid- to large-cap and multinational corporations in diverse sectors. "We believe that inclusivity is fundamental to building a vibrant, integrated and resilient ecosystem within the JS-SEZ." Alpine Renewables, through its Malaysian unit Alpine Assets Management Sdn Bhd, plans to invest about RM350 million over the next three years in a renewable energy feedstock pretreatment and biodiesel refinery facility at Tanjong Langsat Industrial Port. The facility is expected to process up to 600,000 tonnes of renewable feedstock oil annually, strengthening the port's role as a regional hub for marine biofuels. Alpine currently supplies biofuel feedstocks to markets in Europe, China, South Korea and the United States. Centurion Corporation, an SGX-listed provider of worker and student accommodation, intends to invest between RM300 million and RM500 million over the next five years to expand its bed capacity in the JS-SEZ. The company's focus is on developing Centralised Living Quarters certified by the Jabatan Tenaga Kerja Semenanjung Malaysia (and compliant with the Employees' Minimum Standards of Housing, Accommodations and Amenities Act 1990. TMG, also listed on the SGX, plans to invest up to RM1.5 billion over the next decade to build Thomson Hospital Iskandariah on a 1.5-hectare site in Stulang, Iskandar Malaysia. The hospital is set to become a healthcare anchor within the JS-SEZ, operating under a public-private partnership model. The project is expected to generate around 1,500 jobs in clinical services, research, specialist care, and healthcare technology. Meanwhile, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the JS-SEZ will be the catalyst for Malaysia's growth as it enhances bilateral trade and investment relation with Singapore and across the globe. "Already we have seen the construction of data centre which has contributed significantly to construction sector. "The sector has been growing at double digit for multiple quarters in a row especially data centre construction in Johor. The availability of land resources, energy, water and telecommunications to name a few would facilitate the growth node in the state," he told Business Times. Afzanizam said key factors that need to be addressed are the bureaucracy among the relevant government agencies at state and federal level in order to yield positive experience among the business and investing community. He also said the prevailing tariff shocks suggests a dire needs for intra-Asean trade and investment linkages. "JS-SEZ can be such catalysts. It can be cross-border template to integrate other SEZs in the Asean region and become the major hubs for various industries such as advanced manufacturing and electronics, logistics and warehousing, green energy, agri-food and halal industry as well as healthcare and education," he added.
Straits Times
19-05-2025
- Business
- Straits Times
JS-SEZ received up to S$709 million investment interest
These intended investments will contribute to the development of the 11 Johor-Singapore Special Economic Zone economic sectors. ST PHOTO: KEVIN LIM Johor could see up to S$709 million in investment from Maybank's Singapore clients – Johor could see as much as RM2.35 billion (S$709 million) in investment inflows over the next three to 10 years from Maybank's Singapore-based clients, the Malaysian bank said on May 19. These intended investments will contribute to the development of the 11 Johor-Singapore Special Economic Zone (JS-SEZ) economic sectors, particularly in the green economy, manufacturing, logistics and healthcare. The Malaysian bank said its three Singapore clients have expressed interest in investing in Johor's special economic zone: Thomson Medical Group and Centurion Corp – which are both listed on Singapore's stock exchange – and Alpine Renewables and Edible Oils, a supplier of feedstock to biofuel producers in the United States, Europe, South Korea and China. The three Singapore-headquartered clients submitted letters of intent (LOIs) to the Iskandar Regional Development Authority at the JS-SEZ Partners' Dialogue: Advancing Facilitation event hosted by Malaysia's Ministry of Economy on May 19. 'These LOIs signal confidence in the JS-SEZ's strategic value,' said Maybank's president and group chief executive officer Khairussaleh Ramli. The bank has also launched initiatives to position the JS-SEZ as a regional hub – this includes strengthening the local ecosystem, including upskilling micro, small and medium enterprises in areas of supply chain and halal facilitation, he said in a statement. Thomson Medical Group, which is controlled by Singaporean billionaire Peter Lim, is banking on the JS-SEZ's medical hub potential to develop Thomson Hospital Iskandariah on a 1.5ha site in Stulang, Iskandar. The healthcare player specified a 'strong interest' to invest up to RM1.5 billion over the next 10 years on a multi- specialty tertiary care facility that could create about 1,500 jobs, Maybank said. Meanwhile, Centurion, which owns and manages worker and student accommodation worldwide, has expressed interest in investing RM300 million to RM500 million in the next five years to double its bed capacity in the JS-SEZ to address employers' needs for centralised living quarters in key sectors of the zone. And Alpine Renewables and Edible Oils plans to invest around RM350 million over the next three years to develop renewable energy feedstock pretreatment and renewable biodiesel refinery facilities in the Tanjong Langsat Industrial Port, in anticipation of rising demand for sustainable biofuels. As well as facilitating the submission of the LOIs from its Singapore clients, Maybank also signed an LOI with Malaysia's Economy Ministry, outlining interests in joint efforts to promote the JS-SEZ. In addition, Economy Minister Rafizi Ramli told media at the event that six international banks are keen on signing LOIs to invest in the JS-SEZ . 'The idea is to make sure that we have large international banks to cater to each region. That's why you have CGS International looking for primarily Chinese investors, Sumitomo Mitsui Banking Corporation to look after East Asia, CIMB and Maybank for local and regional investors. 'We also have Bank of America and HSBC for the Americas and we have one European bank that we have been talking to for a while. I think they will come on board, they have been working with us. They are taking slightly longer (to sign on), ' said Datuk Seri Rafizi. Already, Johor has secured about RM23 billion in its investment pipeline for the month of April alone, said Johor Menteri Besar Onn Hafiz Ghazi. This comes on top of the RM27.4 billion in investments the state recorded in the first quarter of 2025. 'If these numbers hold – and we believe they will – Johor will exceed RM50 to RM60 billion in total investments in (full-year) 2025, surpassing last year's RM48.5 billion. This will position Johor yet again in the top three investment destinations in Malaysia (after Selangor and Kuala Lumpur) ,' said Datuk Onn on May 19. For the whole of 2024, Johor attracted RM48.5 billion in investments, up from RM43.1 billion in 2023, according to data from the Malaysian Investment Development Authority (MIDA). Johor's Chief Minister added that the government is actively engaged with 47 other potential investors in countries such as Singapore, China, and South Korea for possible investments totalling RM40.1 billion i n key areas such as manufacturing, data centres and energy. Join ST's WhatsApp Channel and get the latest news and must-reads.
Barnama
19-05-2025
- Business
- Barnama
Maybank To Support JS-SEZ And Facilitate Up To RM2.35 Bln In Client Investments
REGION - CENTRAL > NEWS KUALA LUMPUR, May 19 (Bernama) -- Malayan Banking Bhd (Maybank) has signed a letter of intent (LOI) with the Ministry of Economy to support the Johor-Singapore Special Economic Zone (JS-SEZ) and facilitate up to RM2.35 billion in client investments over the next three to 10 years. Maybank said the LOI covers four key areas - financing support; promotion and global visibility; collaboration on events and stakeholder engagement; and research and thought leadership. It said under financing support, Maybank would, among others, facilitate financing, including green financing and Islamic financing for critical new technologies and infrastructure development and provide comprehensive trade finance solutions, investment guarantees and credit facilities to attract foreign direct investments. bootstrap slideshow President and group chief executive officer Datuk Khairussaleh Ramli said Maybank has launched several initiatives to position the zone as a regional hub, including strengthening the local ecosystem by upskilling micro, small and medium enterprises in the areas of supply chain and halal facilitation and establishing a JS-SEZ Desk to drive investments. 'Maybank has been taking the lead in supporting clients in strategic sectors such as data centres, infrastructure and semiconductor and facilitated the approval of the first single family office in Malaysia and the Forest City Special Financial Zone,' he said in a statement. At the JS-SEZ Partners' Dialogue: Advancing Facilitation event hosted by the Ministry of Economy today, Maybank said it facilitated the submission of LOIs by Singapore-headquartered clients: Alpine Renewables and Edible Oils Pte Ltd (Alpine), Centurion Corporation Ltd (Centurion) and Thomson Medical Group Ltd (TMG). It said these intended investments contribute to the development of the 11 JS-SEZ economic sectors, particularly in the green economy, manufacturing, logistics and healthcare, and align with the MADANI Economy's aspirations of creating new growth engines, and adding high value jobs. 'In anticipation of surging demand for sustainable biofuels, Alpine's subsidiary, Alpine Assets Management Sdn Bhd, plans to invest approximately RM350 million over the next three years to develop a Renewable Energy Feedstock Pretreatment and Renewable Biodiesel Refinery Facilities in the Tanjong Langsat Industrial Port. 'The project has a forecasted throughput of approximately 600,000 metric tonnes of renewable feedstock oil into biofuel finished product, which would strengthen the port's position as a major biofuel bunker supplier for the marine fuel market,' it said.
Business Times
19-05-2025
- Business
- Business Times
Two SGX listcos eye investments in Johor-Singapore Special Economic Zone: Maybank
[SINGAPORE] Singapore-listed companies Thomson Medical Group and Centurion Corporation have expressed interest to invest in the Johor-Singapore Special Economic Zone (JS-SEZ), said Maybank on Monday (May 19). The two listcos are among the Malaysian bank's three Singapore-headquartered clients that submitted letters of intent (LOIs) to the Iskandar Regional Development Authority at the JS-SEZ Partners' Dialogue: Advancing Facilitation event hosted by Malaysia's Ministry of Economy. A third company – Alpine Renewables and Edible Oils, a supplier of feedstock to biofuel producers in Europe, China, South Korea and the US – has also expressed interest in setting up facilities in JS-SEZ. The LOIs express a combined investment interest of up to RM2.35 billion (S$709.5 million) over the next three to 10 years. They 'signal confidence in the JS-SEZ's strategic value', said Khairussaleh Ramli, president and group chief executive officer of Maybank. 'These intended investments contribute to the development of the 11 JS-SEZ economic sectors, particularly in the green economy, manufacturing, logistics and healthcare, and align with the Madani Economy's aspirations of creating new growth engines, and adding high value jobs,' said Maybank. In addition to facilitating the submission of the LOIs from its Singapore clients, the bank also inked an LOI with the Malaysian Economic Ministry, outlining interests in joint efforts to promote the JS-SEZ. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The bank has also launched initiatives to position the JS-SEZ as a regional hub, including upskilling micro, small and medium enterprises in areas of supply chain and halal facilitation, Khairussaleh said. It supports clients in strategic sectors of data centres, infrastructure and semiconductors and facilitated the approval of the first single family office in Malaysia and in the Forest City Special Financial Zone, he added. Centurion, a global owner and manager of worker and student accommodation, has expressed interest to invest RM300 million to RM500 million over the next five years to double its bed capacity in the JS-SEZ. Healthcare player Thomson Medical specified 'strong interest' to invest up to RM1.5 billion over the next ten years to develop Thomson Hospital Iskandariah on a 1.5 hectare site in Stulang, Iskandar. This hospital, which will be a multi-speciality tertiary care facility, aims to create some 1,500 jobs across clinical, research, specialist physician roles and support services such as healthcare technology, said Maybank. It will feature medical centres spanning disciplines such as oncology, orthopaedics, obstetrics and gynaecology, fertility and general surgery and will incorporate artificial intelligence-assisted tools. As for Alpine Renewables and Edible Oils, it plans to invest around RM350 million over the next three years to develop renewable energy feedstock pretreatment and renewable biodiesel refinery facilities in the Tanjong Langsat Industrial Port, in anticipation of rising demand for sustainable biofuels.
The Star
19-05-2025
- Business
- The Star
Maybank to support JS-SEZ and facilitate up to RM2.35bil in client investments
From left: Chong Wee Yeat, head of corporate banking, Maybank Singapore; Kong Chee Min, CEO of Centurion Group; Steven Chiang, CEO of Alpine Renewables and Edible Oils; Datuk Dr Adzuan Abdul Rahman, CEO of TMC Life Sciences; Dr Melvin Heng, CEO of Thomson Medical Group; Rafizi Ramli, Economy Minister; Datuk Onn Hafiz Ghazi, Johor Menteri Besar; Datuk John Chong, group CEO, Global Banking of Maybank; Syed Ahmad Taufik Albar, group CEO of Community Financial Services, Maybank; Farid Kairi, group deputy CEO, global banking, Maybank; and Datuk Haji Noorazam Osman, chief executive, Iskandar Regional Development Authority KUALA LUMPUR: Malayan Banking Bhd (Maybank) has signed a letter of intent (LOI) with the Ministry of Economy to support the Johor-Singapore Special Economic Zone (JS-SEZ) and facilitate up to RM2.35 billion in client investments over the next three to 10 years. Maybank said the LOI covers four key areas - financing support; promotion and global visibility; collaboration on events and stakeholder engagement; and research and thought leadership. It said under financing support, Maybank would, among others, facilitate financing, including green financing and Islamic financing for critical new technologies and infrastructure development and provide comprehensive trade finance solutions, investment guarantees and credit facilities to attract foreign direct investments. President and group chief executive officer Datuk Khairussaleh Ramli said Maybank has launched several initiatives to position the zone as a regional hub, including strengthening the local ecosystem by upskilling micro, small and medium enterprises in the areas of supply chain and halal facilitation and establishing a JS-SEZ Desk to drive investments. "Maybank has been taking the lead in supporting clients in strategic sectors such as data centres, infrastructure and semiconductor and facilitated the approval of the first single family office in Malaysia and the Forest City Special Financial Zone,' he said in a statement. At the JS-SEZ Partners' Dialogue: Advancing Facilitation event hosted by the Ministry of Economy today, Maybank said it facilitated the submission of LOIs by Singapore-headquartered clients: Alpine Renewables and Edible Oils Pte Ltd (Alpine), Centurion Corporation Ltd (Centurion) and Thomson Medical Group Ltd (TMG). It said these intended investments contribute to the development of the 11 JS-SEZ economic sectors, particularly in the green economy, manufacturing, logistics and healthcare, and align with the MADANI Economy's aspirations of creating new growth engines, and adding high value jobs. "In anticipation of surging demand for sustainable biofuels, Alpine's subsidiary, Alpine Assets Management Sdn Bhd, plans to invest approximately RM350 million over the next three years to develop a Renewable Energy Feedstock Pretreatment and Renewable Biodiesel Refinery Facilities in the Tanjong Langsat Industrial Port. "The project has a forecasted throughput of approximately 600,000 metric tonnes of renewable feedstock oil into biofuel finished product, which would strengthen the port's position as a major biofuel bunker supplier for the marine fuel market,' it said. Meanwhile, an owner and manager of workers and student accommodation, Centurion, has expressed interest in investing RM300 million to RM500 million in the next five years to double its bed capacity in the JS-SEZ, and address the priorities of employers in key sectors of the JS-SEZ for Centralised Living Quarters, according to Maybank. It said TMG specified a strong interest to invest up to RM1.5 billion over the next ten years to develop Thomson Hospital Iskandariah, located on a 1.5-hectare site in Stulang, Iskandar Malaysia. This would create approximately 1,500 jobs across clinical, research, specialist physicians and support services, including healthcare technologies. - Bernama
