OCBC Bank (Malaysia) Bhd announced that it will be developing a forward-looking and convenient schemes in support of Malaysia and Singapore cooperation through Johor-Singapore Special Economic Zone (JS-SEZ).
In a statement today (Jan 11), its chief executive officer Tan Chor Sen said that the schemes will be to support corporates and small medium enterprises (SMEs) in Singapore to fulfill their banking needs in Johor.
“Among these will be a smoother business account opening process involving a simplified know-you-customer (KYC) screening process and appointed branch officers at all OCBC branches in Johor Bahru.
“The move allows for a more seamless cross-border experience and is aligned to the OCBC group’s internationalisation strategy centred on the Asean-Greater China region,” it said.
Tan said with the great interest in Malaysia in several sectors, the group believes the move to facilitate a more seamless account opening process will be welcomed warmly by the Singapore business community.
Among the sectors he was referring to are sustainable energy, electricity trading, electronics, healthcare, financial industries and business-related services.
“OCBC’s customers in both Malaysia and Singapore can look forward to even more initiatives up ahead to support the cross-border growth of SMEs,” he added.
He said the group welcomes the signing of the memorandum of understanding (MOU) for the Johor-Singapore Special Economic Zone (JS-SEZ) by Malaysia and Singapore today.
“(We welcome) what it holds for the future of economic growth in the region,” Tan added.
