Singapore – Singapore-based businesses are set to gain stronger footholds in Malaysia and across Southeast Asia under a memorandum of understanding (MoU) signed on July 17 between Maybank, Malaysia’s largest lender by assets, and the Singapore Chinese Chamber of Commerce and Industry (SCCCI). The collaboration will focus on facilitating expansion into the Johor–Singapore Special Economic Zone (JS-SEZ) while also unlocking broader regional opportunities.
The partnership will deliver a series of business workshops, networking sessions, and targeted support programmes. Maybank will offer tailored financial solutions, including expedited bank account openings, and advisory on sustainability initiatives and syariah-compliant investments. These measures aim to equip companies with the tools and confidence to scale into new markets efficiently.
“This collaboration not only demonstrates a long-term commitment to Singapore businesses, but also marks a more active role for both parties in the new regional development landscape,” said Mr Chong Wee Yeat, Head of Global Banking at Maybank Singapore.
SCCCI president Mr Kho Choon Keng highlighted the role of the agreement in enhancing business readiness for cross-border ventures. Representing over 5,000 corporate members and 150 trade associations, SCCCI will leverage its network to promote bilateral trade and investment growth.
Witnessing the signing, Minister of State for Trade and Industry Gan Siow Huang reaffirmed government support for businesses navigating an uncertain external environment. She cited the upcoming Business Adaptation Grant — to be launched by October — which will provide up to S$100,000 per company, on a co-funding basis, to help firms adjust to new tariff conditions.
The JS-SEZ, encompassing the Iskandar Development Region in Johor, is expected to generate 20,000 skilled jobs on both sides of the Causeway. Maybank projects that its Singapore-based clients could channel up to RM2.35 billion (S$711.4 million) into Johor over the next three to 10 years.
Positioned as a gateway to Southeast Asia’s fast-growing economy — forecasted to be the world’s fourth-largest by 2030 — the initiative reinforces Singapore and Malaysia’s shared role in shaping the region’s trade and investment landscape.
