PETALING JAYA: Malaysia is set to benefit from a landmark memorandum of understanding (MoU) signed between the Singapore Chinese Chamber of Commerce and Industry (SCCCI) and Maybank Singapore Ltd.
The MoU aims to enhance cross-border business collaboration and stimulate investments across Southeast Asia, with a strategic focus on Singapore, Malaysia and the Johor-Singapore Special Economic Zone (JS-SEZ).
Maybank Singapore CEO Alvin Lee Han Eng said with a dual-market advantage in Singapore and Malaysia, as one of the earliest proponents of the JS-SEZ, Maybank is committed to supporting businesses with a comprehensive suite of banking solutions, while identifying twinning opportunities for expansion into the zone.
“Beyond deepening economic cooperation between Singapore and Malaysia, Maybank also brings the strength of its presence across all 10 Asean markets to support SCCCI members in pursuing regional growth ambitions,“ he said in a statement.
The MoU signing was witnessed by Singapore’s Minister of State for Foreign Affairs and Trade and Industry Gan Siow Huang.
With Southeast Asia poised to become the world’s fourth-largest economy by 2030 and a projected combined gross domestic product of US$4.5 trillion (RM19 trillion), the region offers significant growth opportunities, particularly in the digital and green economy sectors.
In this regard, Malaysia positions itself as a key investment hub for Singaporean businesses due to its diversified economy.
Against this backdrop, Singapore and Malaysia are working collaboratively to advance the JS-SEZ and other bilateral initiatives aimed at strengthening economic growth, improving connectivity, enhancing supply chain integration, and creating employment opportunities, therefore unlocking Southeast Asia’s significant economic potential.
Building on this momentum, SCCCI and Maybank will collaborate on initiatives aimed at promoting economic development, investment and trade, with the JS-SEZ as a strategic focal point. This will include jointly organising meetings, visits, conferences, workshops and networking events, while launching new initiatives to advance shared objectives.
In addition, Maybank will provide tailored solutions including green lane financing, trade finance, cash management, and environmental, social and governance-linked products, and facilitate faster account onboarding for businesses.
SCCCI members will also benefit from capacity-building programmes in areas such as sustainability, halal advisory, and financial services, supported by dedicated advisory services from Maybank’s JS-SEZ Desk.
The MoU is expected to benefit an estimated 5,000 SCCCI corporate members.
SCCCI president Kho Choon Keng said this strategic partnership between SCCCI and Maybank strengthens its members’ competitiveness for the future.
“In the face of an increasingly complex and rapidly changing business landscape, strong financial capabilities and deep regional insight are critical.
“By combining SCCCI’s business network with Maybank’s financial strength, we will help our members and local businesses access cross-border financing, build ESG competencies, and gain valuable market insights. Together, we will open up new economic opportunities and help our members and businesses succeed in Malaysia and across Southeast Asia,“ he said.
The SCCCI-Maybank Mid-Year Business Forum: Outlook 2025 held in Singapore today highlighted the momentum of this collaboration.
