KUALA LUMPUR: Hong Leong Bank (HLB) has come in support of the signing of a memorandum of understanding (MoU) between its sister company, Singapore-based GuocoLand Ltd (GuocoLand) and UEM Sunrise Bhd.
HLB, in a statement yesterday, said this partnership aligns strategically with the Johor-Singapore Special Economic Zone (JS-SEZ) and is poised to drive significant economic growth in Iskandar Puteri’s Flagship Zone B region. It offers a compelling proposition for businesses seeking to leverage cross-border synergies.
The JS-SEZ, envisioned as a thriving hub for advanced industries and innovation, is expected to generate substantial investment, create numerous jobs, and boost trade between Malaysia and Singapore.
“As a member of the Hong Leong Group, we are excited about the MoU between GuocoLand and UEM Sunrise, signifying a pivotal milestone that will decisively strengthen the Johor-Singapore economic corridor. HLB is committed to actively supporting its success by providing comprehensive financial services. We are confident this development will serve as a powerful catalyst for economic growth within the JS-SEZ, attracting high-value industries and fostering a dynamic business ecosystem,” said group managing director and CEO Kevin Lam.
Leveraging on the bank’s extensive presence and deep understanding of both the Malaysian and Singaporean markets, HLB said that it is well-positioned to provide comprehensive financial solutions to corporate and SME clients seeking to capitalise on the opportunities presented by this strategic partnership.
“The bank offers a full suite of banking services, from financing and cash management to global markets expertise and employee banking, designed to support businesses at every stage of their growth. Supported by a dedicated team of industry and client coverage specialists, these services include tailored financing solutions for Singapore corporate and SME businesses looking to set up or expand their operations within the JS-SEZ,” said HL Bank Singapore managing director and CEO Ng Wee Lee.
Beyond property financing, HLB provides streamlined and efficient cash management solutions to optimise working capital, offering Malaysian and Singaporean corporate and SME businesses access to bespoke and competitive capital expenditure, and working capital financing options. For those engaged in international trade, HLB offers access to a wide range of treasury and foreign exchange solutions through its Global Markets division, enabling them to navigate the complexities of cross-border transactions. HLB also offers comprehensive banking services for employees of companies within the JS-SEZ.
