KUALA LUMPUR (Jan 7): Malayan Banking Bhd (KL:MAYBANK) is committed to becoming the preferred financial institution for Malaysia-Singapore financial transactions and solutions, following the signing of the Johor-Singapore Special Economic Zone (JS-SEZ) agreement, which aims to foster economic integration and bolster regional growth.

Maybank president and group chief executive officer Datuk Khairussaleh Ramli highlighted the bank's readiness to support businesses by facilitating seamless cross-border trade, offering enhanced credit facilities, and providing a comprehensive range of financial solutions to stakeholders in both countries.

"Through our strong foundation, deep understanding of the region and proven expertise in providing financial solutions for, and meeting transactions needs of all segments of our customers, we firmly believe that the JS-SEZ can collectively bring meaningful outcomes to all stakeholders and the Asean community at large," he said in a statement on Tuesday. 

Khairussaleh said Maybank has actively engaged with stakeholders over the recent months, hosting events featuring the Menteri Besar of Johor and federal ministers. The bank aims to attract investments from Singapore into the JS-SEZ, and serve as a gateway for businesses looking to expand within Asean.

"Businesses will be able to capitalise on Maybank’s one-stop support providing advisory services, enhanced credit facilities including express processing of loans for financing of investments, seamless cross-border trade and investment experience through our wide physical and online touchpoints in Johor and Singapore," he said. 

Maybank has also focused on improving cross-border financial services, introducing innovations like cross-border QR payments and P2P payments via mobile numbers, which are available for both Malaysia and Singapore Maybank customers. 

Its digital and physical presence in Johor and Singapore is substantial, with plans to establish a "phygital" branch in Forest City, providing virtual consultations and banking services.

To date, Maybank has 37 branches in Johor, on top of three Maybank Premier Centres, nine Maybank service centres and six commercial banking centres. In Singapore, the bank has 18 branches and seven Maybank Premier Lounges, the highest amongst foreign banks.  

In line with its sustainability goals, Maybank said it has mobilised RM104.89 billion in sustainable finance between 2021 and September 2024, and has put in place capabilities and dedicated resources to advise on sustainable and transition finance solutions. 

Maybank shares were up six sen or 0.59% to close at RM10.16 on Tuesday, for a market capitalisation of RM122.6 billion.

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