Maybank and Perbadanan Usahawan Johor Sdn. Bhd. (PUJB) have entered into a Memorandum of Understanding (MOU) to form a strategic collaboration aimed at strengthening support for local Johor entrepreneurs, with a particular focus on businesses aligned with the Johor-Singapore Special Economic Zone (JS-SEZ).
At the foreground (L to R), the exchange of MOUs between Tuan Haji Mohd Radzi bin Haji Mohd Amin, CEO of Perbadanan Usahawan Johor Sdn Bhd and Dato' Khairussaleh Ramli, President & Group CEO, Maybank. In the background, witnessing the exchange of MOUs (L to R) - Tan Sri Datuk Dr Haji Azmi Rohani, Chairman of Perbadanan Usahawan Johor Sdn Bhd, YB Senator Tengku Datuk Seri Utama Zafrul Abdul Aziz, Minister of Investment, Trade & Industry, YAB Dato' Onn Hafiz Ghazi, Chief Minister of Johor, YB Liew Chin Tong, Deputy Minister of Investment, Trade & Industry and Tan Sri Dato' Sri Ir. Zamzamzairani Mohd Isa, Chairman of Maybank.
The exchange of the MOU took place recently in conjunction with the JS-SEZ Joint Business and Investment Forum, between Dato’ Khairussaleh Ramli, President & Group Chief Executive Officer, Maybank and Haji Mohd Radzi Mohd Amin, Chief Executive Officer, PUJB.
Through this MOU, both parties aim to bridge key gaps by offering tailored banking and beyond banking solutions including Halal Facilitation services, supply chain financing, capacity-building programs, and strategic advisory services.
Dato’ Khairussaleh said this collaboration underscores Maybank’s commitment to supporting local entrepreneurs and to work closely with PUJB and the Johor State to strengthen the local MSME ecosystem. This is in line with the JS-SEZ key economic focus in efforts to ensure that local businesses will greatly benefit from new investments and economic growth.
“As a leading bank of ASEAN — with the largest branch network in Johor, and 65 years of banking presence in Singapore, this partnership will play a catalytic role in advancing business growth and investments in the JS-SEZ covering over 60,000 local MSME entrepreneurs whom are currently part of PUJB’s ecosystem. “
“With JS-SEZ’s focus on Halal, this partnership with PUJB will also contribute towards the development and positioning of JS-SEZ as the preferred regional and global Halal hub. Our strong global Islamic banking experience has strategically positioned us to assist in not only providing Shariah-compliant financing solutions, but also enables us access to the Halal ecosystem and marketplace for businesses,” said Dato’ Khairussaleh.
Since September 2023, Maybank Islamic has guided 360 MSMEs in their Halal certification journey under its Halal Facilitation Programme. The programme will now be extended to benefit not only local entrepreneurs but also foreign investors in the food & beverage, pharmaceutical, and cosmetics sectors who are seeking entry into the Halal market.
Against the promising backdrop of the growing Halal industry in Malaysia, the partnership with PUJB is especially timely in the context of increasing regional economic integration and the growing demand for Halal-certified products and services. By 2030, the Halal industry in Malaysia is expected to expand to US$113.2 billion (RM500 billion) with a GDP contribution of 8.1% by 2025, according to the Halal Industry Master Plan 2030.
Dato’ Khairussaleh added that Maybank is committed to deliver on its M25+ strategic thrusts, of which one of them is to strengthen global Islamic banking leadership through a number of business drivers, and at the same time being a major player in the robust and dynamic Halal sector in Malaysia and globally.
Haji Mohd Radzi Mohd Amin said, “PUJB is committed to leading the development of a competitive and inclusive entrepreneurial and cooperative ecosystem including empowering youth, women, and rural communities through training, mentoring, access to modern technology, as well as financing and infrastructure support for shared economic prosperity.”
Maybank has already extensively been supporting key clients in the JS-SEZ strategic sectors, including data centres, infrastructure, healthcare and semi-conductors. It is also spearheading regional decarbonisation efforts - including acting as Sole Sustainability Adviser for Johor Plantations Group’s RM1.3 billion Sustainability-Linked Sukuk, the world’s first in the plantation sector.
A dedicated JS-SEZ Desk has also been set up by Maybank as a one-stop platform offering advisory, banking and beyond banking solutions, and linking clients with the relevant approving authorities. This will be further supported by Maybank’s vast presence in both Johor and Singapore. To date, Maybank has 71 touchpoints in Johor, including branches, Maybank Premier Centres, Maybank Service Centres and Commercial Banking Centres. While in Singapore, Maybank continues to serve its customers via 23 branches and PremierHubs, the largest footprint amongst foreign banks.