OCBC pledges over RM11bil financing to support Johor-Singapore SEZ
The bank expects to extend at least RM3 billion more in financing by year-end to support investments across various sectors.
This includes real estate, oil and gas, manufacturing and data centres.
OCBC Group chief executive officer Helen Wong said it has a longstanding presence in Johor, with its roots in the state going back over a century.
The first OCBC Malaysia branch in Johor was established in 1917, and the bank now operates eight branches in the state, out of a total of 38 nationwide.
"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 in Johor and the JS-SEZ through at least another RM3 billion in financing by year-end.
"We are honoured to have this opportunity to explore with the Johor Menteri Besar Datuk Onn Hafiz Ghazi how we can build on these solid foundations and leverage the full capabilities of the OCBC Group's extensive regional franchise to contribute to the success of the JS-SEZ," she said.
Onn Hafiz said OCBC's RM11 billion financing commitment, along with plans to inject at least RM3 billion more by the end of the year, demonstrates strong confidence in Johor's economic trajectory and investment prospects.
"We welcome this partnership and look forward to working closely with OCBC to unlock Johor's full potential as Asean's next economic powerhouse," he said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
an hour ago
- The Star
Harn Len posts stronger 4Q, declares special dividend of 3.00 sen
KUALA LUMPUR: Harn Len Corp Bhd remains cautious and is actively formulating strategies to safeguard its business operations. The plantation group said these include enhancing efficiency and implementing cost rationalisation measures to mitigate potential negative impacts. Harn Len noted that the crude palm oil (CPO) price is currently hovering between RM3,900 to RM4,100 per tonne. It said prices fluctuated in June 2025, driven by a surge in global crude oil prices early in the month and the ceasefire in the Israel-Iran conflict. 'Surge of soybean oil prices and high demand from India will help to support the CPO price, where the average CPO price for the year is forecasted to remain above RM4,000 per tonne,' it added. In the fourth quarter ended May 31, Harn Len's net profit surged to RM22.5mil, or earnings per share of 3.68 sen, from RM1.5mil, or 0.27 sen, a year ago. This brought its full-year profit to RM33.4mil, or 5.75 sen. Quarterly revenue rose 39.3% to RM70.9mil from RM50.9mil, lifting full-year revenue to RM283.2mil. Harn Len said the higher operating revenue was mainly driven by increased sales volumes of CPO and palm kernel. The surge in profit was primarily due to a gain from the disposal of an investment property. It has declared a special dividend of 3.00 sen per share for the financial year ended May 31, 2025, payable on July 15 to shareholders on record as at July 1.
Barnama
2 hours ago
- Barnama
Johor Approves 42 Data Centre Projects In Q2 2025
JOHOR BAHRU, July 29 (Bernama) -- Johor approved 42 data centre construction projects in the second quarter of this year, positioning the state as a leader in the country's digital investment and a strategic destination for high-tech, knowledge-based economic growth in the region, said Johor Housing and Local Government Committee chairman Datuk Mohd Jafni Md Shukor. In a Facebook post, he stated that data centres serve as a key driver for the implementation of the Johor-Singapore Economic Zone, the Johor Digital Plan, and the state's border economic transformation agenda. He made the statement following the Johor Data Centre Development Taskforce meeting, which was co-chaired by Johor Public Works, Transport, Infrastructure and Communication Committee chairman Mohamad Fazli Mohamad Salleh, and Johor Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han. Mohd Jafni said the meeting also reviewed seven new applications for data centre development in the Greater Johor Bahru area. He said the task force represents a holistic approach by the state government, coordinated by Johor Town and Country Planning Department (PLANMalaysia) and involving key technical agencies in the state. Mohd Jafni said the state government prioritises the development of data centres in planned industrial zones such as Ibrahim Technopolis (IBTEC) in Kulai, the Sedenak industrial area, and the Pasir Gudang industrial zone, as these locations offer strategic advantages, including direct access to major highways, high-capacity power grids, stable water supply, and proximity to ports and international airports. He added that a total of 7,618 acres of planned industrial land have been allocated for data centre development, including areas under the Pasir Gudang City Council, such as ASM Green, Rising Gateway, Iskandar Halal Hub, Kosmo, and Keck Seng, as well as IBTEC under the Kulai Municipal Council. 'IBTEC, developed by Johor Land Group, alone has allocated 600 acres specifically for data centre development,' he said, adding that the state government will also limit new approvals for data centre construction in areas under the Johor Bahru City Council and Iskandar Puteri City Council to avoid land use conflicts with residential areas. 'The approval process for data centres in Johor is highly transparent and based on genuine technical requirements. Each application must comply with noise and heat control measures, architectural design standards, energy capacity requirements, as well as disaster and environmental risk management considerations.
Malay Mail
2 hours ago
- Malay Mail
Muar man loses nearly RM490,000 in online stock scam promising 500pc returns
MUAR, July 29 — An employee of a furniture factory here claimed to have lost RM488,740 after being duped by an online stock investment fraud syndicate. Muar police chief ACP Raiz Mukhliz Azman Aziz said the 46-year-old victim, in his report lodged yesterday, claimed that he came across an advertisement for an investment on social media in early May and clicked on a link. 'He was then contacted by an unknown individual via the WhatsApp application and instructed to download an application known as 'PHG PLUS' for investment purposes that promised a lucrative return of up to 50 per cent of the investment amount within a week and 500 per cent within six months. 'Lured by the sweet promise, the victim deposited a total of RM488,740 into six different accounts, involving 39 transactions, from May 21 to July 21, 2025,' he said in a statement today. Raiz Mukhliz said the victim realised he had been cheated when, upon attempting to withdraw what was claimed to be RM6 million, he was asked to make an additional payment of RM600,000 for supposed income tax purposes. 'Realising it was a scam, the victim lodged a police report, and the case is now being investigated under Section 420 of the Penal Code,' he said. — Bernama
