OCBC commits RM11bil, aiming to add RM3bil to boost Johor’s economy

KUALA LUMPUR: OCBC Group has committed over RM11bil in financing to Johor businesses since early last year, as part of its support for the Johor-Singapore Special Economic Zone (JS-SEZ).

“By the end of 2025, the group expects to provide at least another RM3bil in financing for investments into various sectors including real estate, oil & gas, manufacturing and data centres,” the bank said in a statement.

OCBC Group chief executive officer Helen Wong said the bank has a long history in Johor, with its first branch in the state established in 1917. She said OCBC now operates eight branches in Johor, out of a total of 38 across Malaysia.

“Having already committed over RM11bil in financing to businesses in Johor, we are looking to further catalyse local economic activities and cross-border investments in Johor and JS-SEZ through at least another RM3bil in financing by year-end.

“We are honoured to have this opportunity to explore with the Johor Menteri Besar how we can build on these solid foundations and leverage the full capabilities of the OCBC Group’s extensive regional franchise to contribute to the success of the JS-SEZ,” Wong said.

Meanwhile, Johor Menteri Besar Datuk Onn Hafiz Ghazi said the bank’s commitment of over RM11bil in financing — with at least RM3bil more expected by year-end — reflects strong confidence in Johor’s economic direction and investment potential.

“We welcome this partnership and look forward to working closely with OCBC to unlock Johor’s full potential as Asean’s next economic powerhouse,” he added.