OCBC Group has announced a significant financial commitment to the Johor-Singapore Special Economic Zone (JS-SEZ), having already allocated over RM11b to businesses in Johor since early last year. The Group plans to inject at least another RM3 billion by the end of 2025, targeting sectors such as real estate, oil and gas, manufacturing, and data centres. This announcement was made during a visit by OCBC’s CEO, Helen Wong, and other senior executives to Johor Menteri Besar Dato’ Onn Hafiz bin Ghazi.
The Group’s “One Group” approach, which integrates the strengths of OCBC Bank, Great Eastern Holdings, Bank of Singapore, and other subsidiaries, positions it uniquely to bolster business growth and cross-border collaboration. Wong highlighted OCBC’s historical ties to Johor, with its first branch established in 1917, and its current network of eight branches in the state.
Dato’ Onn Hafiz expressed gratitude for OCBC’s unwavering support, stating, “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.”
OCBC has been proactive in showcasing the JS-SEZ’s potential to global investors, facilitating the entry of new companies across various sectors. Tan Chor Sen, CEO of OCBC Bank (Malaysia) Berhad, noted the bank’s efforts in connecting businesses with growth opportunities, particularly leveraging its presence in Greater China.
The initiative aims to transform the border region between Johor and Singapore into a premier economic hub, with OCBC playing a pivotal role in this strategic development.
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