United Overseas Bank (Malaysia) Bhd (UOB Malaysia) has entered into a strategic partnership with the Federation of Malaysian Manufacturers (FMM) and the Singapore Manufacturing Federation (SMF) to strengthen cross-border trade and investment between Malaysia and Singapore.
The tripartite memorandum of understanding (MoU) was signed at the ASEAN Conference in Singapore, with the objective of enhancing the Malaysia–Singapore manufacturing corridor. This collaboration leverages UOB’s regional expertise and extensive network to support businesses, particularly small and medium-sized enterprises (SMEs), in scaling their operations, accessing new markets and achieving sustainable growth.
The initiative is closely aligned with the momentum created by the Johor–Singapore Special Economic Zone (JS-SEZ), a bilateral government initiative aimed at fostering greater economic integration. In a statement, UOB highlighted its early involvement in the JS-SEZ, having launched key initiatives such as the Green Lane in collaboration with Invest Johor. The bank also established dedicated SEZ Desks and introduced expedited account opening services to facilitate business onboarding.
Since 2024, UOB has committed RM11.5 billion in financing to support commercial activities in Johor and is currently facilitating RM10 billion in foreign direct investment (FDI) flows into the zone.
Ng Wei Wei, Chief Executive Officer of UOB Malaysia, expressed confidence in the partnership’s potential. “Through this MoU, we look forward to working with FMM and SMF to help their members seize cross-border opportunities and contribute to ASEAN’s industrial growth,” she said.
The MoU outlines two primary objectives: to promote bilateral business expansion between Malaysia and Singapore and to enhance joint trade and investment initiatives aimed at reinforcing the regional manufacturing ecosystem. UOB’s role includes providing tailored advisory services, market entry strategies and in-market support to members of both manufacturing bodies.
FMM President Tan Sri Soh Thian Lai said the collaboration sets the foundation for new cross-border success stories under the JS-SEZ. He reaffirmed FMM’s commitment to supporting its members in harnessing the potential of this bilateral framework to deepen regional business ties.
Lennon Tan, President of the SMF, noted that ASEAN’s global competitiveness depends on the ability of its manufacturers to innovate, scale and connect efficiently. “This tripartite partnership will open clearer paths to capital, talent and technology, enabling sustainable growth and ensuring that the Malaysia–Singapore manufacturing corridor remains competitive and future-ready,” he added.
-The Edge
