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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.
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.
Free Malaysia Today
19-05-2025
- Business
- Free Malaysia Today
Maybank facilitates RM2.4bil investments into JS-SEZ
Maybank has signed a letter of intent with the economy ministry outlining its interest in promoting the Johor-Singapore special economic zone. (EPA Images pic) KUALA LUMPUR : Malaysia's largest lender, Malayan Banking Bhd facilitated as much as RM2.35 billion (US$545 million) in client investments into the Johor-Singapore special economic zone (JS-SEZ) as part of efforts to promote the region. Maybank facilitated the submission of letters of intent by Singapore-headquartered clients Alpine Renewables and Edible Oils Pte Ltd, Centurion Corp and Thomson Medical Group Ltd into the JS-SEZ, according to a statement today. Leaders of Singapore and Malaysia in January launched the zone that links the border region of both countries. The JS-SEZ is nearly twice the size of China's Shenzhen — the city bordering Hong Kong, whose success Malaysia is hoping to emulate with the JS-SEZ. Maybank also said it signed a letter of intent with the economy ministry that outlines its interest in joint efforts to promote the JS-SEZ. The bank would facilitate financing for critical new technologies and infrastructure development, and provide trade finance solutions, investment guarantees and credit facilities to attract foreign direct investments.
Business Times
19-05-2025
- Business
- Business Times
Two SGX listcos eye investments in JS-SEZ: 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 (IRDA) at the JS-SEZ Partners' Dialogue: Advancing Facilitation event hosted by the Malaysian Ministry of Economy on Monday. 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 establishing a presence 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. At the event, Maybank facilitated the submission of the LOIs from its Singapore clients and inked an LOI with the ministry, outlining interests in joint efforts to promote the JS-SEZ. The LOIs '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. Maybank's LOI covers four key areas of financing support, promotion and global visibility by leveraging its extensive network, collaboration on events and stakeholder engagement and research and thought leadership. 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. Up to RM2.35 billion of intended investments 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, Malaysia. The envisaged hospital, 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. The third company to indicate its interest, 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.
Bloomberg
19-05-2025
- Business
- Bloomberg
Maybank Facilitates $545 Million Investments Into Economic Zone
Malaysia's largest lender Malayan Banking Bhd. facilitated as much as 2.35 billion ringgit ($545 million) in client investments into the Johor-Singapore Special Economic Zone as part of efforts to promote the region. Maybank facilitated the submission of Letter of Intents by Singapore-headquartered clients Alpine Renewables and Edible Oils Pte Ltd., Centurion Corp. and Thomson Medical Group Ltd. into the SEZ, according to a statement Monday.
