OCBC Group has announced a significant commitment of more than RM11 billion in financing to businesses in Johor since early 2023, reinforcing its support for the Johor-Singapore Special Economic Zone (JS-SEZ).
The banking group expects to inject at least an additional RM3 billion by the end of 2025, channelled into strategic sectors such as real estate, oil and gas, manufacturing, and data centres.
OCBC Group Chief Executive Officer Helen Wong highlighted the bank’s enduring presence in the state during a recent courtesy call on Johor Menteri Besar Datuk Onn Hafiz Ghazi at his official residence in Saujana. OCBC’s roots in Johor date back to 1917 with the establishment of its first branch. Today, the bank operates eight branches in the state, forming part of its 38-branch network across Malaysia.
“Having already committed over RM11 billion in financing to Johor-based businesses, we aim to further stimulate local economic activity and facilitate cross-border investments through at least RM3 billion more in financing by year-end,” said Wong.
She also expressed appreciation for the opportunity to collaborate with the Johor State Government to expand upon these efforts. “We are honoured to work closely with the Menteri Besar to build on these strong foundations and leverage OCBC Group’s extensive regional network to help drive the success of the JS-SEZ,” she added.
Datuk Onn Hafiz welcomed OCBC’s involvement, noting that the bank’s sustained financial commitment signals robust investor confidence in the state’s economic direction.
“This partnership reflects our shared vision of unlocking Johor’s full potential as ASEAN’s next economic powerhouse,” he said.
-The Star
