KUALA LUMPUR (Jan 7): OCBC Bank (Malaysia) Bhd says it is committed to supporting businesses and individuals in leveraging the opportunities offered by the Johor-Singapore Special Economic Zone (JS-SEZ).

OCBC Bank's chief executive officer Tan Chor Sen said that the bank has developed a suite of financial services and onboarding solutions specifically tailored to the JS-SEZ. These offerings aim to simplify market entry and expansion while fostering a thriving ecosystem for businesses.

For non-resident individuals residing in Malaysia, OCBC has introduced a new webpage providing information on local banking and financing options, including mortgages, wealth management services, and additional benefits such as personal insurance and discounts on motor and travel insurance.

"We are excited about the opportunity to contribute to Johor's development as an economic hub," Tan said. "The JS-SEZ has the potential to attract significant international capital through the various initiatives that have been announced."

Earlier, Malaysia and Singapore formalised an agreement establishing the JS-SEZ, which outlines initiatives designed to enhance cross-border connectivity, streamline customs processes, and foster economic collaboration.

Notable highlights include passport-free QR code clearance at Singapore's land checkpoints, the establishment of the Invest Malaysia Facilitation Centre — Johor (IMFC-J), and tax incentive packages for the zone.

Tan added that the OCBC Group's extensive network across Asean and Greater China, including its headquarters in Singapore, positions it to provide comprehensive support to businesses seeking to expand within the region.

"We look forward to seeing more individuals and businesses benefit from the forward-looking and convenient schemes we have implemented to support corporates, SMEs, and individuals looking to start, grow, or accelerate their presence in and through the JS-SEZ," he noted.

Tan also emphasised OCBC's dedication to driving Malaysia's energy transition goals and fostering innovation while upholding high standards of governance and operational excellence.