From L-R: Paul Lee — Managing Partner, Northmod; YM Raja Taufik Azad Ahmad Suhaimi — Iskandar Regional Development Authority; Mohd. Yasin Abdullah — Group CEO Maybank Islamic; YB Dato’ Haji Asman Shah bin Abdul Rahman — Johor State Secretary; YAB Dato’ Onn Hafiz Ghazi — Menteri Besar Johor; Dato’ Sri Khairussaleh Ramli — President & Group CEO of Maybank; YB Lee Ting Han — Johor State EXCO; Syed Ahmad Taufik Albar — Group CEO, Maybank Community Financial Services; and Teo Chee Yow — Executive Director Country Garden Pacific View Sdn Bhd
Malaysia’s largest lender, Maybank, is facilitating more than RM15 billion ($4.70 billion) into the Johor-Singapore Special Economic Zone (JS-SEZ) that comprises approximately RM10 billion ($3.13 billion) in committed financing, and separately, up to RM5.35 billion ($1.67 billion) in the next three to 10 years in investment interests via letters of intent (LOIs) from clients.
The financing and investment facilitated by Maybank covers the whole spectrum of client segments — from SMEs, mid-cap companies to large and multinational corporations — all of which play a key role in the supply chain of the JS-SEZ-focused industries including high-value manufacturing, digital economy, food security, healthcare and logistics.
The launch of Maybank’s Forest City Service Centre was officiated by Yang Amat Berhormat Dato’ Onn Hafiz Ghazi, Chief Minister of Johor; and Dato’ Sri Khairussaleh Ramli, president and group CEO of Maybank.
Facilitating LOIs
Maybank has facilitated client LOIs totalling up to RM5.35 billion to the Iskandar Regional Development Authority (IRDA). This includes a RM3 billion LOI from Equalbase, a Singapore-based sustainable industrial real estate developer.
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This investment aims to expand 2.2 million sq ft facilities in Senai, supporting green-certified supply chain operations and tech-enabled jobs.
Earlier announced LOIs worth RM2.35 billion were from Alpine Renewables and Edible Oils, Centurion Corporation, and Thomson Medical Group for projects over the next three to 10 years.
Beyond banking services
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To date, Maybank has provided advisory services in the successful establishment of two Single Family Offices (SFOs) in the Forest City Special Financial Zone (FCSFZ), for One KL Management Sdn Bhd, the first in Malaysia; and the other for Beach Capital Holdings Sdn Bhd — with 13 more in the pipeline.
Within its scope of Islamic finance and Halal facilitation, Maybank Islamic has been providing advisory services to homegrown Johor businesses such as Kopi Rakyat and Holiday Inn Johor Bahru to secure Halal certification. This has enabled them to unlock growth and new market access.
Next-gen Forest City Service Centre
Maybank’s Forest City Service Centre strategically aligns with FCSFZ’s vision to be a regional financial hub, while supporting JS-SEZ’s aspirations. This presence allows Maybank to facilitate and support client investment and drive growth across key sectors, including wealth management, semiconductors, electric vehicles, healthcare and Halal economy.
The new Service Centre offers clients the option of hybrid experience that blends high touch, face- to-face interactions with seamless digital experiences.
Located within the vicinity of the Invest Malaysia Facilitation Centre Johor (IMFC-J), and designed for accessibility, the new service centre features a consultative-designed space for clients to meet with advisors for personalised guidance; a Digital Xperience Zone with iPads and self-service terminals; Virtual Rooms with secure video conferencing with our bankers; and a Community Area for engagements and collaborations.
Khairussaleh of Maybank says: “Maybank is excited to support the development of JS-SEZ. Over the past two years, we have collaborated with government bodies, industry associations and regulators in Malaysia and Singapore to drive investments in the JS-SEZ-focused industries, strengthen SME ecosystems and build more resilient supply chains including Johor’s Halal ecosystem. We are also at the forefront in supporting our wealth clients to set up their SFOs in the FCSFZ. This complements our commitment in providing beyond banking support to include advisory services, positioning us as a trusted, values-based partner to our clients.”
He adds: “Our latest Forest City Service Centre reinforces our commitment in the JS-SEZ and FCSFZ, while advancing our M25+ digitalisation initiatives of creating a space where efficiency, convenience and human connection can co-exist in the age of AI. Building on this momentum, we are working to position both zones as a gateway to invest and trade in Asean.”
