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Free Malaysia Today
a day ago
- Business
- Free Malaysia Today
Financial institutions ready to support JS-SEZ investors, say industry leaders
FMT managing director Azeem Abu Bakar (left), head of FDI advisory in the CEO's office at UOB Chiok Sook Yin (second from left), Affin Hwang Investment Bank's head of research Loong Chee Wei (centre), and Deloitte Malaysia executive director Thean Szu Ping during a session at the Nikkei Forum Medini, Johor 2025, co-organised by Iskandar Investment Bhd in Iskandar Puteri, Johor, yesterday. ISKANDAR PUTERI : Financial institutions are prepared to provide end-to-end support for investors in the Johor-Singapore special economic zone (JS-SEZ), offering a full suite of services to facilitate foreign direct investment, say industry leaders. Chiok Sook Yin, head of foreign direct investment advisory in the CEO's office at United Overseas Bank Ltd, said the bank was well-positioned to 'connect the dots' for businesses entering Malaysia. 'Besides having strong network connectivity, we have financial supply chain management solutions that help investors expand local sourcing and support new suppliers that follow (prominent) companies into Malaysia. 'We're also helping lower the barrier to entry for investors and addressing their concerns before they enter the markets they've targeted,' she said during a session at the Nikkei Forum Medini, Johor 2025, co-organised by Iskandar Investment Bhd here today. Chiok was responding to a question from FMT managing director Azeem Abu Bakar, who moderated the session, on the role that financial institutions play in supporting expansion into the JS-SEZ. 'Johor is an up-and-coming hub where we're seeing a lot of cross-border opportunities and businesses. 'What's going to unlock this potential is the financial aspect, and to make things happen here, the money has to come in,' he said. JS-SEZ was formally established in January through an agreement between Malaysia and Singapore to boost economic connectivity between the state and the republic. It aims to attract 100 projects worth RM100 billion and create about 100,000 jobs in high-value sectors such as manufacturing, digital economy, logistics, clean energy, and tourism over the next decade. Chiok noted that JS-SEZ was attracting strong interest not only from Singaporean companies but from those in Europe and North Asia as well. Meanwhile, Affin Hwang Investment Bank's head of research, Loong Chee Wei, said the bank had evolved beyond financing to help connect stakeholders such as state authorities, manufacturers, and supply chain partners. 'We have strategic agreements to collaborate with key sectors and promote investment, including from Japan to Malaysia. 'We also advise our institutional investors and organise trips to Johor to explore opportunities,' he said. Deloitte Malaysia executive director Thean Szu Ping added that while financial institutions played a key role as facilitators, the government was also stepping up efforts to attract investment, especially in high-tech industries. 'For these industries, a special tax rate of 5% is available for up to 15 years. 'There are also additional incentives for capital-intensive industries, which will receive an investment tax allowance instead of a reduced tax rate,' she said.
CBC
05-06-2025
- Business
- CBC
Ontario to make Ring of Fire a special economic zone 'as quickly as possible': Ford
Ontario Premier Doug Ford says the province intends to designate the mineral-rich Ring of Fire as a special economic zone as quickly as possible. He says he and several ministers will consult all summer with First Nations about the new law that allows the Ontario government to suspend provincial and municipal rules before making the designation. The law seeks to speed up the building of large projects, particularly mines. First Nations are livid about the new law and say it tramples their rights and ignores their concerns. The province passed Bill 5 on Wednesday despite several weeks of First Nations protests throughout the province and at Queen's Park. Critics also say the bill guts protections for endangered and threatened species.
