Partnership reinforces Group’s leadership in delivering comprehensive solutions to HNW clients, Family Offices and in support for JS-SEZ

Maybank, together with its client ONE KL Management Sdn Bhd (ONE KL)—the family office of CMY Capital founded by Tan Sri Chua Ma Yu—has secured the first pilot Single Family Office establishment under the Malaysian Single Family Office scheme in the Forest City Special Financial Zone (FCSFZ).

The partnership with ONE KL underscores Maybank’s leadership in delivering bespoke, cross-border solutions to High Net Worth (HNW) clients and Family Offices to grow their wealth across generations, and signals the Group’s commitment to supporting the development of the Johor-Singapore Special Economic Zone (JS-SEZ), of which the FCSFZ is a key pillar.

“The JS-SEZ and the FCSFZ are emerging as a compelling destination for regional wealth solutions; it is cost-effective, well-regulated, and strategically located. As the JS-SEZ develops, we anticipate a rise in cross-border flows, and Maybank is committed to be the strategic banking partner of clients operating in the JS-SEZ. To support this, Maybank has established a dedicated JS-SEZ Desk offering end-to-end banking and value-added services, as well as connecting clients with the relevant authorities,” said Syed Ahmad Taufik Albar, Group CEO, Community Financial Services, Maybank.

Syed Ahmad Taufik Albar, Group CEO, Community Financial Services, Maybank

Family Offices have gained significant traction in Malaysia and Singapore, fueled by the rapid growth of the region’s ultra-high-net-worth population. According to McKinsey & Company, the wealth pool of affluent and mass-affluent individuals in Asia is projected to reach US$4.7 trillion by 2026, up from US$2.7 trillion in 2021.

“We are pleased to partner with Maybank in setting up our Single Family Office within the FCSFZ. The bank’s deep expertise, regional network, and understanding of our unique needs gave us the confidence to be part of this pioneering initiative. Their commitment to supporting long-term growth of the zone also makes them a strong partner,” said Tan Sri Chua.

Maybank has the widest banking network in Johor with 71 major touchpoints, including branches, Maybank Premier Centres, Maybank Service Centres and Commercial Banking Centres. In Singapore, Maybank operates 23 branches and Premier Hubs, the largest footprint amongst foreign banks.