KUALA LUMPUR (July 3): United Overseas Bank (Malaysia) Bhd (UOB Malaysia) is teaming up with the Federation of Malaysian Manufacturing (FMM), and the Singapore Manufacturing Federation (SMF) to boost regional investment and support businesses expanding across the Malaysia-Singapore border.

They signed a tripartite memorandum of understanding on Thursday at the Asean Conference in Singapore to strengthen the Malaysia-Singapore manufacturing corridor by leveraging UOB's regional network and expertise to help businesses, small and medium enterprises (SMEs), scale their operations, access new markets, and achieve sustainable growth.

The agreement builds on the momentum of the Johor-Singapore Special Economic Zone (JS-SEZ) agreement between both governments, the bank said in a statement.

"UOB is proud to have been an early supporter of the JS-SEZ, launching initiatives such as the Green Lane with Invest Johor and setting up dedicated SEZ Desks and introducing fast lane account opening services.

"Since 2024, UOB has committed RM11.5 billion in financing to support businesses in Johor and is actively facilitating RM10 billion of FDI [foreign direct investment] flows into the zone. Through this MOU, we look forward to working with FMM and SMF to help their members seize cross-border opportunities and contribute to Asean's industrial growth," said UOB Malaysia chief executive officer Ng Wei Wei.

The MOU has two key objectives: to promote cross-border business opportunities, especially between Malaysia and Singapore, and to deepen collaboration through joint trade and investment initiatives to strengthen the regional manufacturing ecosystem.

UOB said its role is to provide advisory services to FMM and SMF members, including tailored market entry and in-market guidance.

FMM president Tan Sri Soh Thian Lai said this collaboration "sets the stage for more cross-border success stories under the JS-SEZ", adding that FMM is committed to strengthening support for its members, to enable them to leverage this bilateral initiative to foster deeper regional ties.

SMF president Lennon Tan stressed that Asean's competitiveness rests on how quickly the region's manufacturers can innovate, scale and connect. With this tripartite partnership, "together we will open clearer paths to capital, talent and technology, enabling sustainable growth and keeping the Malaysia–Singapore manufacturing corridor competitive and future-ready", he added.