Latest news with #SeeHongChenGroup
The Star
4 days ago
- Business
- The Star
OCBC extends RM351mil financing for Johor property projects in JS-SEZ
From left: PAC BOS market group head Jeffrey Tan, OCBC Bank head of commercial banking Kevin Choo, See Hong Chen Group managing director See Cherng Jye, Exsim Group managing director Lim Aik Hoe, See Hong Chen Group chairman Tan Sri See Hong Chen, Exsim Group managing director Lim Aik Kiat, OCBC Bank CEO Tan Chor Sen, OCBC Bank managing director & head of wholesale banking Jeffrey Teoh, and Soans Group director Tan Chee Yuen. KUALA LUMPUR: OCBC Bank (M) Bhd has extended RM351mil in financing to See Hong Chen Group and Exsim to support three strategic real estate developments in the Johor-Singapore Special Economic Zone (JS-SEZ). In a statement, OCBC Bank said the financing supports a partnership between Exsim and See Hong Chen Group for the acquisition of freehold land along Jalan Dato Abdullah Tahir in Johor Bahru, earmarked for a mixed development project with a gross development value of approximately RM1.8bil. Financing has also been extended to See Hong Chen Group to support the acquisition of freehold land parcels in Bandar Johor Bahru. OCBC Bank managing director and head of wholesale banking, Jeffrey Teoh, said the financing reflects the bank's continued commitment to supporting sustainable development in the JS-SEZ. 'The JS-SEZ represents a significant opportunity for long-term economic growth, and we are pleased to support our clients in advancing developments that contribute to this region's progress. 'We are always looking to deliver value that goes well beyond traditional lending by offering integrated financial solutions made possible through the cross-entity and cross-border expertise of OCBC's One Group, which includes Great Eastern, Bank of Singapore and PacLease,' he said. Meanwhile, See Hong Chen Group managing director See Cherng Jye said: 'We are grateful for OCBC Bank's support and confidence in our vision. These projects are aligned with our strategy to develop high-impact assets in key growth corridors, and we look forward to contributing to the continued development of Johor Bahru.' Separately, Exsim managing director Lim Aik Hoe said the collaboration marks a significant milestone for the group as it expands its footprint into Johor. He added that with the support of OCBC Bank, Exsim is confident in delivering developments that align with the evolving needs of the market and community.
New Straits Times
5 days ago
- Business
- New Straits Times
OCBC extends RM351mil financing for projects in Johor-Singapore SEZ
KUALA LUMPUR: OCBC Bank (Malaysia) Bhd has approved RM351 million in financing for three major real estate developments within the Johor-Singapore Special Economic Zone (JS-SEZ). The funding supports a joint venture between property developers See Hong Chen Group and EXSIM Group for the acquisition of freehold land in Johor Bahru. In a statement today, the bank said the mixed-use development has a projected gross development value of RM1.8 billion. OCBC is also financing See Hong Chen Group's purchase of additional freehold land parcels in Bandar Johor Bahru. "The JS-SEZ represents a significant opportunity for long-term economic growth," said OCBC managing director and wholesale banking head Jeffrey Teoh. "We're committed to going beyond traditional lending by delivering integrated financial solutions through our One Group capabilities," he added. The JS-SEZ, a flagship cross-border economic initiative, is expected to catalyse investment flows between Johor and Singapore, with connectivity boosted by the Rapid Transit System Link, which is slated for completion in 2026. See Hong Chen Group managing director See Cherng Jye said the developments aligned with the group's strategy to deliver impactful assets in growth zones. "This collaboration marks a significant milestone for us as we expand our footprint into Johor," said EXSIM managing director Lim Aik Hoe, adding that the projects are designed to meet evolving market and community needs. OCBC is the second-largest banking group by assets in Southeast Asia and is part of a wider financial ecosystem that includes Great Eastern, Bank of Singapore and asset manager Lion Global Investors.
