SCCCI vice-president Lim Hock Chee (seated, left) and Maybank Singapore head of community financial services Adam Tan presenting the signed documents. The signing was witnessed by (from left) SCCCI president Kho Choon Keng, Singapore's State for Foreign Affairs and Trade and Industry Minister Gan Siow Huang and Maybank Singapore head of global banking Chong Wee Yeat.
KUALA LUMPUR: The Singapore Chinese Chamber of Commerce and Industry (SCCCI) and Maybank Singapore Ltd have signed a memorandum of understanding (MoU) to strengthen cross-border business collaboration.
The partnership also aims to drive investments across South-East Asia, with a strategic focus on Singapore, Malaysia, and the Johor-Singapore Special Economic Zone (JS-SEZ).
In a joint statement, the two parties said that with the region poised to become the world’s fourth-largest economy by 2030 and a projected combined gross domestic product of US$4.5 trillion, the region offers significant growth opportunities, particularly in the digital and green economy sectors.
In this regard, Malaysia has positioned itself as a key investment hub for Singaporean businesses due to its diversified economy.
“Building on this momentum, SCCCI and Maybank will collaborate on initiatives aimed at promoting economic development, investment, and trade, with the JS-SEZ as a strategic focal point,” they said.
In addition, Maybank will provide tailored solutions, including green lane financing, trade finance, cash management, and environmental, social and governance or ESG-linked products, and facilitate faster account onboarding for businesses.
SCCCI members would also benefit from capacity-building programmes in areas such as sustainability, halal advisory, and financial services, supported by dedicated advisory services from Maybank’s JS-SEZ desk.
The association said the MoU is expected to benefit an estimated 5,000 SCCCI corporate members.
Furthermore, SCCCI president Kho Choon Keng said this strategic partnership strengthens its members’ competitiveness for the future.
Meanwhile, Maybank Singapore chief executive officer Alvin Lee Han Eng said that with a dual-market advantage in Singapore and Malaysia and as one of the earliest proponents of the JS-SEZ, Maybank is committed to supporting businesses with a comprehensive suite of banking solutions, while identifying twinning opportunities for expansion into the zone.
Beyond deepening economic cooperation between Singapore and Malaysia, Maybank also brings the strength of its presence across all 10 Asean markets to support SCCCI members in pursuing regional growth ambitions, he said. — Bernama
