CIMB Group Holdings Berhad has announced a RM10 billion funding commitment to drive economic integration and unlock cross-border business opportunities in the Johor-Singapore Special Economic Zone (JS-SEZ).
As part of this initiative, CIMB launched its ASEAN Financial Passport, a comprehensive solution designed to simplify cross-border banking for businesses.
The platform provides end-to-end support for companies expanding in the region, including fast-tracked account openings through a special green lane for Malaysia-Singapore clients, and tailor-made solutions such as SMEBizReady, GreenBizReady, and HalalBizReady.
CIMB Group CEO, Novan Amirudin, said the JS-SEZ is a transformative step in regional collaboration, offering businesses greater connectivity, cost optimisation, and operational efficiency.
“In this heightened uncertain environment, CIMB is committed to being a source of strength for our clients, as we have always been, in both good and challenging times, to help them navigate this evolving landscape,” he added.
To support businesses entering the zone, CIMB has formed a dedicated team of 30 experienced bankers across Singapore and Malaysia. The team will assist companies from Malaysia, Indonesia, Thailand, China, and Hong Kong to establish a presence in JS-SEZ.
CIMB is also exploring branch expansions near the Johor-Singapore Rapid Transit System (RTS) Link checkpoints to better serve customers in the area.
Currently, the bank operates 28 branches in Johor, with six branches equipped with specialised services for JS-SEZ businesses.
In addition to banking services, CIMB is actively facilitating foreign and domestic investments through familiarisation visits, market intelligence sharing, and networking forums that connect businesses with government agencies and regulators.
With this major initiative, CIMB positions itself as a key enabler for businesses looking to expand across borders and tap into the fast-growing ASEAN market.
Shahriena Shukri is a journalist covering business and economic news in Malaysia, providing insights on market trends, corporate developments, and financial policies. More about Shahriena Shukri.
