KUALA LUMPUR (Nov 11): Cape EMS Bhd (KL:CEB) said it has secured financing for its expansion plans, which includes battery storage assembly, from Malayan Banking Bhd (KL:MAYBANK), under the lender's Johor–Singapore Economic Zone (JSSEZ) initiative.

It was one of five Johor-based organisations to receive a total of RM120 million in collective financing from Maybank, according to Cape EMS’ statement on Tuesday. The specific quantum secured by the company was not disclosed.

The Senai-based EMS provider plans to expand into battery storage assembly, electric vehicle charging and smart mobility infrastructure, and scale up precision manufacturing at its Senai facilities.

“This financing underscores institutional confidence in our strategic direction and provides the runway to fast-track next-generation clean-energy and infrastructure solutions,” Cape EMS said.

“Our focus is clear — to build scalable, bankable systems that advance national and climate goals while creating long-term value for our clients, partners and stakeholders,” it added.

The financing facility was formalised via a financing offer letter issued to Cape EMS in conjunction with the launch of Maybank’s Forest City Service Centre.

It forms part of Maybank’s RM15 billion financing and investment contributions for the JSSEZ.

Shares in Cape EMS ended unchanged at 28 sen, valuing the company at RM282.72 million.