PETALING JAYA: Malayan Banking Bhd (Maybank) and Perbadanan Usahawan Johor Sdn Bhd (PUJB) have entered into a memorandum of understanding (MoU) to collaborate on strengthening support the state’s entrepreneurs, with a particular focus on businesses, especially MSMEs, aligned with the Johor-Singapore Special Economic Zone (JS-SEZ).
An MoU exchange ceremony was held recently in conjunction with the JS-SEZ Joint Business and Investment Forum, between Maybank president and group CEO Datuk Khairussaleh Ramli and PUJB CEO Mohd Radzi Mohd Amin.
Both parties aim to bridge key gaps by offering tailored banking and beyond banking solutions including halal facilitation services, supply chain financing, capacity-building programmes and strategic advisory services.
Khairussaleh said the collaboration underscores Maybank’s commitment to supporting local entrepreneurs and to work closely with PUJB and Johor to strengthen the local MSME ecosystem. This is in line with the JS-SEZ key economic focus in efforts to ensure that local businesses will greatly benefit from new investments and economic growth.
Noting that Maybank has the largest branch network in Johor and 65 years of banking presence in Singapore, he said the partnership will play a catalytic role in advancing business growth and investments in the JS-SEZ covering over 60,000 local MSME entrepreneurs who are currently part of PUJB’s ecosystem.
“With JS-SEZ’s focus on halal (industry), this partnership with PUJB will also contribute towards the development and positioning of JS-SEZ as the preferred regional and global halal hub. Our strong global Islamic banking experience has strategically positioned us to assist in not only providing syariah-compliant financing solutions, but also enables us access to the Halal ecosystem and marketplace for businesses,” said Khairussaleh.
Since September 2023, Maybank Islamic has guided 360 MSMEs in their halal certification journey under its Halal Facilitation Programme. The programme will be extended to benefit not only local entrepreneurs but also foreign investors in the food and beverage, pharmaceutical, and cosmetics sectors who are seeking entry into the halal market.
Against the promising backdrop of the growing halal industry in Malaysia, the partnership with PUJB is especially timely in the context of increasing regional economic integration and the growing demand for halal-certified products and services. By 2030, the halal industry in Malaysia is expected to expand to US$113.2 billion (RM500 billion) with a contribution of 8.1% to gross domestic product by 2025, according to the Halal Industry Master Plan 2030.
Khairussaleh said Maybank is committed to delivering on its M25+ strategic thrusts, of which one of them is to strengthen global Islamic banking leadership through a number of business drivers, and at the same time being a major player in the robust and dynamic halal sector in Malaysia and globally.
Mohd Radzi said: “PUJB is committed to leading the development of a competitive and inclusive entrepreneurial and cooperative ecosystem including empowering youth, women, and rural communities through training, mentoring, access to modern technology, as well as financing and infrastructure support for shared economic prosperity.”
Maybank has already extensively been supporting key clients in the JS-SEZ strategic sectors, including data centres, infrastructure, healthcare and semiconductors. It is also spearheading regional decarbonisation efforts, including acting as sole sustainability adviser for Johor Plantations Group’s RM1.3 billion sustainability-linked sukuk, the world’s first in the plantation sector.
