Bank Inks Deal In Effort To Draw Investors To MCKIP

OCBC Bank has signed a Memorandum of Understanding with Beibu Gulf Holding (Malaysia) Sdn Bhd in efforts to attract investors to set up business operations in the Malaysia-China Kuantan Industrial Park.

MCKIP, strategically located in Kuantan, in the Special Economic Zone (SEZ) of the East Coast Economic Region (ECER), is the first industrial park to be accorded “National Industrial Park” status in Malaysia. Jointly developed by Malaysia and China and set up in 2013, MCKIP is modelled after its sister park in China, the China-Malaysia Qinzhou Industrial Park (CMQIP). Built on a 685-hectare site, MCKIP targets high-end industries from not only China and Malaysia, but also other parts of the world.

Speaking at the MoU signing ceremony, Mr Lu Yong, Executive Deputy General Manager, BGHM said MCKIP’s proximity to the Kuantan Port and other industrial parks in the ECER enables them to create excellent synergies to promote high end and high technology industries such as stainless steel products, electrical and electronics, information communication technology, renewable energy and many others.

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.

OCBC Bank’s Head of China Business Ms 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”.

The Bank said it 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.

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