OCBC bank signs MoU with Beibu Gulf to attract investors to MCKIP

From left: Beibu Gulf Holding (M) Sdn Bhd chief investment officer Chen Zhuo Li, Beibu Gulf chief operating officer Hu Ke, OCBC China chief executive officer Ang Eng Siong, Beibu Gulf executive deputy general manager Lu Yong, OCBC Bank (M) Bhd head of China business Leong Pei Pei, OCBC Bank managing director of wholesale corporate banking Gideon Wong and OCBC China head of corporate banking Seth Tan.

KUALA LUMPUR: OCBC Bank (M) Bhd has signed a memorandum of understanding (MoU) with Beibu Gulf Holding (M) Sdn Bhd (BGHM) to attract investors to set up business operations in the Malaysia-China Kuantan Industrial Park (MCKIP).

MCKIP, jointly developed by Malaysia and China and established in 2013, is modeled after its sister park in China, the China-Malaysia Qinzhou Industrial Park (CMQIP). Spanning 685 hectares, MCKIP targets high-end industries not only from China and Malaysia but also from other parts of the world.

OCBC and BGHM have agreed to leverage on each other’s expertise in their respective fields to support existing and potential investors in MCKIP and its surrounding industrial land.

BGHM executive deputy general manager Lu Yong highlighted MCKIP's strategic location near Kuantan Port and other industrial parks in the ECER, facilitating synergies for promoting advanced industries like stainless steel products, electronics, ICT, renewable energy, and more.

“Today we take this latent synergy into new frontiers by linking up with the Malaysian arm of Southeast Asia’s second largest banking group by assets, OCBC.

“We are confident that, with their strong presence in Asean-Greater China, as well as the established China Business unit that integrates multiple departments within the bank – covering corporate, commercial and personal Banking – they are able to provide one-stop services for Chinese enterprises and investors,” he said.

Meanwhile, OCBC Bank head of China business Leong Pei Pei said the MCKIP and CMQIP are the first sister parks of its kind in the respective countries, creating a new model for international cooperation represented by the concept of “Two Countries, Twin Parks”.

“In conjunction with the 50th anniversary of the diplomatic ties between China and Malaysia, we believe this MoU between OCBC and BGHM will be beneficial to both our existing and potential overseas investors, especially from China, as the parties continue to collaborate and support inbound investors from both nations.

“OCBC Bank will support BGHM’s continuing development in MCKIP and surrounding industrial land by introducing potential investors to BGHM and providing value-added banking solutions that meet BGHM’s existing and potential investors’ needs,” she said.

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OCBC , MoU , Beibu Gulf , MCKIP


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