UOB has launched a Green Lane in collaboration with Invest Johor to expedite investments into the Johor-Singapore Special Economic Zone (JS-SEZ). This initiative follows the Memorandum of Understanding signed at the 2024 ASEAN Conference. The launch took place during a business mission at Sunway Hotel Big Box, organized by the Singapore Business Federation and supported by UOB, Rajah & Tann, and RSM Singapore.
Under this agreement, UOB will conduct pre-qualification assessments for customers seeking Johor’s Super Lane approval, as per Invest Johor's criteria. To further ease the process, UOB introduced a Fast Lane Account Opening service for Singaporean clients aiming to expand into JS-SEZ. Additionally, dedicated JS-SEZ Desks have been set up in Johor and Singapore to provide financial solutions and market entry support.
Gold Peak Technology Group was announced as UOB’s first client under the Green Lane. Michael Lam of Gold Peak presented a Letter of Intent to Natazha Hariss of Invest Johor. The event was attended by YAB Dato’ Onn Hafiz bin Ghazi, YB Lee Ting Han, Ng Wei Wei from UOB Malaysia, Victor Lo from Gold Peak Malaysia, and Sam Cheong from UOB.
YAB Dato’ Onn Hafiz commented on the progress since establishing JS-SEZ: “Our partnership with UOB has gained strong momentum, reinforcing our shared vision of creating a seamless and thriving investment ecosystem within the JS-SEZ.” He also welcomed Gold Peak’s investment for its potential economic impact on Johor.
UOB will assist Gold Peak's entry into JS-SEZ with advisory services and financial solutions. Gold Peak plans to invest RM670 million (US$150 million) in a manufacturing and R&D facility focused on next-generation battery technologies. This project is expected to create 150 to 180 jobs.
Ng Wei Wei stated that since signing the MoU with Invest Johor six months ago, UOB has been active in bringing investments into targeted sectors and promoting JS-SEZ through various initiatives.
Gold Peak’s future facility aims to advance sustainable energy storage solutions across Southeast Asia. Michael Lam expressed honor in being UOB’s first Green Lane client: "With support from UOB and Invest Johor, our future facility will serve as a hub for innovation in battery technology."