24/08/2026
๐๐ข๐๐ข๐ฅ-๐ฆ๐๐ก๐๐๐ฃ๐ข๐ฅ๐ ๐ฆ๐๐ญ ๐๐ฅ๐๐ช๐ฆ ๐ฅ๐ ๐ญ๐ฎ๐ฒ.๐ต๐ ๐๐ก ๐๐๐ โ ๐๐ข๐๐ข๐ฅ ๐๐
The Johor-Singapore Special Economic Zone has drawn a record RM126.9 billion (S$40 billion) in foreign direct investment since it was formally established, according to Johor Menteri Besar (MB) Datoโ Onn Hafiz Ghazi.
He shared that milestone at a dialogue session where Maybank and the Singapore Manufacturing Federation (SMF) signed a Memorandum of Understanding aimed at widening manufacturers' access to the zone and strengthening its role across Singapore, Malaysia and the wider Asean region.
The Johor MB witnessed the signing of the MOU, which took place during the event โ jointly hosted by Maybank and SMF, and supported by the Malaysian Investment Development Authority โ to launch the new partnership.
The gathering brought together Maybank clients and SMF members based in Singapore, according to a joint statement on Friday.
During his remarks, Hafiz gave an update on the JS-SEZ's forthcoming blueprint and masterplan, and laid out priorities for advancing the region's manufacturing capabilities.
He described collaborations of this kind between the government and industry as essential to converting current investment momentum into lasting economic growth, job creation and long-term development.
He added that the JS-SEZ masterplan will focus on speeding up investment approvals, easing the movement of goods and people, and cultivating higher-value industries that generate employment on both sides of the border, with the ultimate ambition of positioning the JS-SEZ as an entry point for investment into Asean.
Under the new MOU, SMF's network of manufacturers and vendor partners โ spanning both local firms and multinationals โ will gain access to Maybank's regional banking capabilities and connections.
Through this collaboration and leveraging Maybankโs presence across 10 Asean countries, SMF's network of over 5,000 members will benefit from knowledge-sharing, business networking and capacity-building initiatives as they expand in Singapore and beyond.
Maybank has committed to helping build capacity in areas like sustainability and ESG-aligned supply chains, while offering tailored banking products covering sustainable finance, cash management, payments, trade finance, supply chain financing and cross-border funding.
The bank noted it is already facilitating roughly RM22 billion (S$6.9 billion) in financing and investment interest tied to the zone, spanning digital infrastructure, manufacturing, and small and medium-sized enterprises.
SMF president Lennon Tan noted that manufacturing makes up over 17% of Singapore's GDP and supports close to half a million jobs, making competitiveness in the sector a matter of national importance.
"To drive growth, Singapore enterprises must expand beyond local borders. The JS-SEZ presents a compelling proposition, allowing companies to adopt a twinning model โ retaining headquarters operations in Singapore while setting up production in Malaysiaโs resource rich ecosystem," he said in a statement.
As the appointed programme manager for the JS-SEZ initiative, SMF says it has already engaged more than 700 businesses interested in setting up or growing operations there, with demand continuing to rise. Tan said SMF is looking forward to working alongside the Johor state government and Maybank to help its members pursue expansion within the zone.
Alvin Lee, CEO of Maybank Singapore, said Singapore's manufacturing sector is poised to grow further as global spending on AI infrastructure increases, feeding into broader economic resilience.
"The partnership with a likeminded partner like SMF that is committed to industrial transformation and sustainable development elevates our support for Singapore and Malaysia businesses especially the SMEs in becoming future-ready."
" We are well positioned to do so leveraging our Asean franchise and as a preferred bank for Singapore-Malaysia transactions."
Lee also characterised the JS-SEZ as a natural choice for expansion given its geographic proximity, the deep-rooted ties between Malaysia and Singapore, and the premium investors place on political and economic stability.
The new partnership supports Maybank's ROAR30 strategy, under which the bank has set an updated goal of channelling RM300 billion toward sustainable finance.
It also includes fresh targets of RM100 billion each for new-economy sectors and SMEs throughout Asean.
Together, these commitments are also designed to reinforce Singapore's Manufacturing 2030 vision.
