OCBC commits RM3b more by end-2025 after RM11b investment in JS-SEZ
JOHOR BAHRU, June 22 — 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.
This includes engagements with key stakeholders such as Iskandar Regional Development Authority, Malaysian Investment Development Authority, and Invest Johor.
He added that OCBC's extensive global network, particularly in Greater China, positions it well to facilitate inbound investment and business expansion into Malaysia.
Great Eastern Life Assurance (Malaysia) Bhd CEO Datuk Koh Yaw Hui said as part of the OCBC Group, Great Eastern is well-positioned to support the initiative through a comprehensive range of life, general and takaful insurance offerings aligned with the economic development of the region.
The JS-SEZ is a flagship bilateral initiative aimed at enhancing cross-border trade, investment, and infrastructure development, with a focus on high-impact and innovation-driven sectors. — Bernama
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