Singapore-listed companies Thomson Medical Group and Centurion Corporation have expressed interest to invest in the Johor-Singapore Special Economic Zone (JS-SEZ), said Maybank on Monday (19 May).
The two listcos are among the Malaysian bank’s three Singapore-headquartered clients that submitted letters of intent (LOIs) to the Iskandar Regional Development Authority at the JS-SEZ Partners’ Dialogue: Advancing Facilitation event hosted by Malaysia’s Ministry of Economy.
A third company – Alpine Renewables and Edible Oils, a supplier of feedstock to biofuel producers in Europe, China, South Korea and the US – has also expressed interest in setting up facilities in JS-SEZ.
The LOIs express a combined investment interest of up to RM2.35 billion (S$709.5 million) over the next three to 10 years. They “signal confidence in the JS-SEZ’s strategic value”, said Khairussaleh Ramli, president and group chief executive officer of Maybank.
“These intended investments contribute to the development of the 11 JS-SEZ economic sectors, particularly in the green economy, manufacturing, logistics and healthcare, and align with the Madani Economy’s aspirations of creating new growth engines, and adding high value jobs,” said Maybank.