OCBC Group has announced a significant financial commitment to support the Johor-Singapore Special Economic Zone (JS-SEZ), with over RM11 billion in financing allocated to businesses in Johor since early last year. The group anticipates providing an additional RM3 billion by the end of 2025, targeting sectors such as real estate, oil and gas, manufacturing, and data centers.
The announcement was made during a visit by OCBC Group's CEO Helen Wong and senior executives to Johor Menteri Besar Yang Amat Berhormat Dato’ Onn Hafiz bin Ghazi at his residence in Saujana, Johor Bahru. Ms. Wong highlighted OCBC’s "One Group approach," which combines the strengths of its banking, insurance, leasing, and wealth management services to bolster business growth and cross-border collaboration.
“We have a long history in Johor dating more than a hundred years,” said Ms. Wong. “Having already committed over RM11 billion in financing to businesses in Johor, we are looking to further catalyse local economic activities and cross-border investments through at least another RM3 billion in financing by year-end.”
Dato’ Onn Hafiz expressed gratitude for OCBC's continued support: “On behalf of the Johor State Government, I express my deepest appreciation to the OCBC Group for its strong and unwavering commitment to the JS-SEZ.”
OCBC's proactive steps have been noted even before the official signing of the JS-SEZ agreement earlier this year. Mr Tan Chor Sen stated that OCBC has been instrumental in showcasing the zone’s potential to global investors: “Our collaborative efforts with key stakeholders...have been fruitful.”
Dato Koh Yaw Hui added that Great Eastern Life Assurance is eager to contribute through its comprehensive range of insurance solutions: “We believe we are well positioned to make a difference...into a premier economic hub.”