Six banks, including Maybank, CIMB, Bank of America, HSBC, Sumitomo Mitsui, and CGS International, signed a letter of intent with Malaysia’s Ministry of Economy to support the Johor-Singapore Special Economic Zone (JS-SEZ). The LOI focuses on financing, promotion, stakeholder engagement, and market intelligence.
Economy Minister Rafizi Ramli called it “the first decisive step in realising the economic vision of JS-SEZ,” emphasizing the banks’ role in attracting private sector investment. The banks will develop tailored financing programs, leveraging government support to draw clients. The JS-SEZ Blueprint, a comprehensive investment roadmap, is set for launch by year-end.
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