Johor could see up to 709 million in investment from Maybank s Singapore clients

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 11Johor-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.

The bank has also launched initiatives to position the JS-SEZ as a regional hub – this includes strengthening the local ecosystem, including upskilling micro, small and medium enterprises in areas of supply chain and halal facilitation, he said in a statement.

Thomson Medical Group, which is controlled by Singaporean billionaire Peter Lim, is banking on the JS-SEZ’s medical hub potential to develop Thomson Hospital Iskandariah on a 1.5ha site in Stulang, Iskandar.

The healthcare player specified a “strong interest” to invest up to RM1.5 billion over the next 10 years on a multi-speciality tertiary care facility that could create about 1,500 jobs, Maybank said.

Meanwhile, Centurion, which owns and manages worker and student accommodation worldwide, has expressed interest in investing RM300 million to RM500 million in the next five years to double its