Johor could see up to $711m in investment from Maybank's S'pore clients

Johor could see as much as RM2.35 billion (S$711 million) in investment inflows over the next three to 10 years from Maybank's Singapore-based clients, the Malaysian bank said on May 19.

- Azril Annuar

KUALA LUMPUR - Johor could see as much as RM2.35 billion (S$711 million) in investment inflows over the next three to 10 years from Maybank's Singapore-based clients, the Malaysian bank said on May 19.

These intended investments will contribute to the development of the 11 Johor-Singapore Special Economic Zone (JS-SEZ) economic sectors, particularly in the green economy, manufacturing, logistics and healthcare.

The Malaysian bank said its three Singapore clients have expressed interest in investing in Johor's special economic zone: Thomson Medical Group and Centurion Corp - which are both listed on Singapore's stock exchange - and Alpine Renewables and Edible Oils, a supplier of feedstock to biofuel producers in the United States, Europe, South Korea and China.

The three Singapore-headquartered clients submitted letters of intent (LOIs) to the Iskandar Regional Development Authority at the JS-SEZ Partners' Dialogue: Advancing Facilitation event hosted by Malaysia's Ministry of Economy on May 19.

"These LOIs signal confidence in the JS-SEZ's strategic value," said Maybank president and group chief executive Khairussaleh Ramli.