KUALA LUMPUR (April 21): CIMB Group Holdings Bhd (KL:CIMB) announced on Monday that it has committed RM10 billion in financing facilities to support economic activity and cross-border investments within the Johor-Singapore Special Economic Zone (JS-SEZ).
CIMB, the country's second largest bank by assets, also launched the CIMB Asean Financial Passport, aimed at providing businesses with seamless regional banking support, according to the group in a statement on Monday.
The initiative is expected to facilitate smoother cross-border operations by offering end-to-end services — including regulatory advisory, account onboarding, and tailored financing packages.
To support this, CIMB has mobilised a 30-member specialist team based in both Malaysia and Singapore to guide businesses entering or expanding in the JS-SEZ. The group currently operates 28 branches in Johor, with six designated to serve JS-SEZ-related needs, and is exploring further branch expansion around the future Johor-Singapore Rapid Transit System (RTS) Link checkpoints.
“The JS-SEZ represents a transformative move in regional economic collaboration, deepening connectivity and unlocking new avenues for sustainable growth between Malaysia and Singapore, while strengthening the region’s resilience against global uncertainties," said CIMB group chief executive officer Novan Amirudin in the statement.
He added that the bank’s commitment reflects its ambition to foster greater regional integration by creating an enabling ecosystem for businesses and talent. This includes more efficient movement of goods, optimised operating costs, and enhanced productivity for enterprises operating within the SEZ.
CIMB’s offerings in the corridor include financial solutions under its SMEBizReady, GreenBizReady, and HalalBizReady suites, along with enhanced remittance capabilities. These are tailored in addressing the operational needs of corporates and SMEs seeking to capitalise on the new cross-border corridor.
The bank added that it continues to engage regional clients through foreign direct investment (FDI) and domestic direct investment (DDI) initiatives, such as site visits, industry briefings, and networking events in Johor.
Additionally, it provides sustainability advisory and employee payroll support through its CIMB@WORK platform.
“As a leading Asean-focused financial institution, we are committed to our purpose of advancing customers and society, by capitalising the immense potential of the JS-SEZ through integrated cross-border banking solutions, strategic advisory, and an extensive ecosystem of partnerships, backed by our strong on-ground presence in both Johor and Singapore,” Novan added.
The JS-SEZ was formalised earlier this year through a memorandum of understanding between Malaysia and Singapore, and is expected to play a key role in advancing bilateral cooperation in high-impact sectors such as electronics, healthcare, the digital economy, and transport.
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