Latest news with #SumitomoMitsui
Malay Mail
3 days ago
- Business
- Malay Mail
JS-SEZ turns heads: Johor's regional rise draws investors from Japan, China, Europe
JOHOR BARU, June 18 — The Johor-Singapore Special Economic Zone (JS-SEZ) is drawing increasing interest from international investors, particularly from Japan, South Korea, China, and Europe, as Johor positions itself as a strategic gateway to the Asean market. Iskandar Regional Development Authority (IRDA) chief executive Datuk Mohd Noorazam Osman said recent investment enquiries received by the Invest Malaysia Facilitation Centre Johor reflect strong interest from these key markets, underscoring Johor's emergence as a promising regional growth hub. 'This is a very positive outlook not only for Johor, but also for Malaysia as a whole. Amid ongoing global volatility, investors are looking to Asean as a promising entry point into new regional markets,' he said when met after speaking as a panellist at the Nikkei Forum Medini 2025: Driving Asia's Innovation Hub, held here today. On key investment sectors, Mohd Noorazam said Japanese investors are particularly drawn to electrical and electronics, financial services, technology, and the digital economy. Asked about confirmed Japanese investments, he noted that while specific names could not yet be disclosed, several companies had requested meetings with Johor Menteri Besar Datuk Onn Hafiz Ghazi, a clear indication of their strong interest. 'We have also received enquiries from Japanese banks acting on behalf of their clients. We are facilitating engagements, particularly with institutions such as Mizuho Bank and Sumitomo Mitsui Banking Corporation, with whom the Economy Ministry recently signed a letter of intent,' he added. Meanwhile, Iskandar Investment Bhd (IIB) president and chief executive officer Datuk Idzham Mohd Hashim said Medini is fully equipped to welcome new investors, supported by comprehensive infrastructure and a business-friendly ecosystem. He said the 'plug and play' development model implemented in Medini enables investors to begin operations immediately, without delays. 'The land is ready, and essential utilities, including electricity, water, fibre optics, and cabling, are already in place. Instead of starting from scratch, investors can establish operations in Medini, which already hosts nearly 40 international companies. 'These businesses are thriving, and it's now a matter of scaling up. At IIB, we see ourselves as growth partners, committed to helping businesses succeed in Medini,' he said. Idzham also emphasised Medini's high quality of life, supported by amenities such as pocket parks, Sireh Park, golf courses, Legoland, and the revitalised Johor Zoo, all catering to diverse lifestyles and income groups. Commenting on global uncertainties and Singapore's recent downward revision of its gross domestic product growth forecast to 0.2 per cent, he acknowledged that some investors are adopting a wait-and-see approach due to geopolitical tensions. 'There may be short-term corrections, such as what Singapore is experiencing, but we believe these are temporary. Asean remains one of the world's fastest-growing regions, with a youthful and expanding middle class. Young people account for about 50 to 60 per cent of Southeast Asia's 650 million population,' he said. He also highlighted the natural geographic advantages of Johor and Singapore as investment destinations, further bolstered by political stability and the absence of natural disasters. On IIB's development strategy, he stressed that focus is not solely on physical infrastructure but also soft infrastructure. 'Soft infrastructure includes talent development, facilitation by government agencies, and enabling businesses to access markets. That's the ecosystem we're building, not just buildings and roads, but the support systems businesses need to thrive,' he said. The two-day Nikkei Forum Medini 2025 forms part of broader efforts to position Johor as a regional innovation hub, supporting the JS-SEZ initiative to attract high-quality investments and integrate value chains between Malaysia and Singapore. — Bernama
Zawya
4 days ago
- Business
- Zawya
Saudi Electricity Company seeks $1bln loan to support expansion: Report
Saudi Electricity Company (SEC) is seeking a $1 billion loan to fund its expansion across Saudi Arabia, according to a Bloomberg report. The facility will carry a five-year tenor, with Sumitomo Mitsui Banking Corp. acting as the sole mandated lead arranger and bookrunner, the report said, quoting people aware of the matter. The funds will be used for general corporate purposes, the report said. Capital expenditure of SEC, which is listed on the Saudi stock exchange, hit an all-time high of SAR 60 billion in 2024, up 44 percent from the previous year. SEC has commissioned the country's first battery energy storage system (BESS) in Bisha, with a capacity of 500 MW, and advanced the development of five additional storage projects totaling 2,500 MW. (Editing by Anoop Menon) (
Yahoo
4 days ago
- Business
- Yahoo
Sumitomo Mitsui Financial Group and SBI launch wealth management JV
Sumitomo Mitsui Financial Group and SBI Holdings have announced a business alliance to establish a wealth management joint venture. The venture aims to enhance the capabilities of Sumitomo Mitsui Financial Group's Olive platform, a digital service integrating banking, payment, and investment offerings. A preparatory company is expected to be established by July 2025, subject to regulatory approval, with operations beginning in spring 2026. The new company will be jointly owned by SMBC Nikko Securities (30%), SBI Securities (30%), Sumitomo Mitsui Banking Corporation (20%), Sumitomo Mitsui Financial Group (10%), and SBI Holdings (10%). It builds on a capital and business partnership formed in 2020 between the two Japanese entities. Since the 2020 alliance, several initiatives have been introduced, including the Sumitomo Mitsui Card Accumulated Investment programme in 2021, which now exceeds Y85bn ($555.4m) in monthly transactions. Additionally, SBI Securities was integrated into the Olive app in 2023, which currently serves over 5.7 million customers. The joint venture aims to address shifting customer preferences driven by digitalisation, according to the announcement. While more individuals are transacting online, many still seek expert guidance for complex financial decisions. In response, the upcoming 'Olive Infinite' service will combine digital capabilities with personalised consulting under the 'Flexible Consulting' model. Customers will have access to advisory services via artificial intelligence chat, phone, video, or in-person at Olive Lounges. Customers can choose consultants based on their expertise and, from the second session onward, designate or switch dedicated advisors. The service will offer visualisation of multi-bank assets through Money Forward and allow the completion of securities transactions within the Olive app. According to Bloomberg, Japanese policymakers are urging individual investors to shift their funds toward higher-risk investments like stocks to reduce dependence on government expenditure, especially as the aging population puts pressure on social security budgets. In a similar vein, partnerships are emerging within Japan's securities sector. Rakuten Securities, for instance, formed a joint venture with Mizuho Securities, building on their existing capital and business alliance, and launched operations in April of the previous year. "Sumitomo Mitsui Financial Group and SBI launch wealth management JV " was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Bloomberg
5 days ago
- Business
- Bloomberg
Saudi Electricity Seeks $1 Billion Loan Amid New Projects
Saudi Electricity Co. is marketing a $1 billion loan, people familiar with the matter said, as the firm seeks to finance new projects, including the expansion of a power plant. The lending facility will carry a five-year tenor, with Sumitomo Mitsui Banking Corp. acting as the sole mandated lead arranger and bookrunner for the deal, said the people, who asked not to be identified as the matter is private.
Japan Times
5 days ago
- Business
- Japan Times
Sumitomo Mitsui and SBI to launch wealth management joint venture
Sumitomo Mitsui Financial Group and SBI Holdings plan to jointly provide wealth management services for well-to-do customers in Japan. The new joint venture will be funded by SMFG and two group firms — Sumitomo Mitsui Banking and SMBC Nikko Securities — as well as SBI Holdings and its flagship domestic brokerage SBI Securities, according to a statement on Monday. Japanese households that have financial assets of ¥50 million ($347,000) are expected to rise to 6.1% of the total by the end of the fiscal year starting April 2035 from 5% in fiscal 2019, according to forecasts by Daiwa Institute of Research. The amount of assets held is also expected to rise by about a third to ¥953 trillion by the end of fiscal 2035 compared with the end of fiscal 2024. Policymakers in Japan are encouraging individual investors to put more of their money in riskier assets such as equities, to lessen their reliance on government spending at a time when a rapidly aging population strains the social security budget. Even so, Japanese households held about 51% of their financial assets in bank accounts at the end of March last year, a reflection of their conservative investment approach and compared with around 12% in the U.S. and 34% in the euro zone, according to data compiled by DIR. Similar alliance moves have been happening elsewhere in Japan's securities industry. Rakuten Securities established a joint venture with Mizuho Securities, with which it has a capital and business alliance, and began operations in April last year. The company is targeting households owning financial assets of ¥20 million or more, and is aiming to attract individuals in their 40s and 50s who are Rakuten Securities customers and have face-to-face financial services.
