Seizing the Opportunities at JS-SEZ with HLB

SINGAPORE, 3 JUNE 2025 – HL BANK SINGAPORE (“HLBS” or “the Bank”) convened a high-level forum themed ‘ASEAN’s Next Engine of Economic Growth’, to address the immense cross-border opportunities presented by the Johor-Singapore Special Economic Zone (JS-SEZ) and to discuss comprehensive financial solutions for businesses operating within this dynamic zone.  

The forum featured esteemed speakers from key organizations instrumental to the JS-SEZ's development, including Iskandar Regional Development Authority (IRDA), Bank Negara Malaysia (BNM), the Malaysian Investment Development Authority (MIDA), and law firm M/s Christopher & Lee Ong (CLO), alongside experts from HLBS’s Malaysia headquarters, Hong Leong Bank (“HLB”) and HL Bank Singapore.  

The JS-SEZ is envisioned as a thriving hub for advanced industries and innovation, poised to generate substantial investment, create numerous jobs, and significantly boost trade between Malaysia and Singapore. The zone, covering over 3,500 square kilometers, more than four times the size of Singapore, will encompass nine flagship zones, each catering to different sectors to create a diversified economic landscape. Recent shifts in global trade dynamics have amplified the importance of the JS-SEZ, positioning it as a critical platform for businesses seeking to strengthen their supply chains and enhance their resilience to global economic uncertainties. 

Leveraging HLB’s extensive presence and deep understanding of both the Malaysian and Singaporean markets, the bank is uniquely positioned to provide seamless, end-to-end financial solutions to corporate and SME clients seeking to capitalize on regional development opportunities. HLB has dedicated capacity in Singapore and Johor to deliver these cross-border services effectively.  

Presentations at the half-day conference by esteemed speakers included:

●       Tan Jay Sern, Senior Economist, Bank Negara Malaysia (BNM)  

●       Vinothan Tulisinathzan, Director, MIDA Singapore  

●       Rudyanto Azhar, Director and Head of Economics & Investment, Iskandar Regional Development Authority (IRDA)  

●       Adrian Chee, Partner, M/s Christopher & Lee Ong  

●       Evelyn Khoo, Head of Business & Corporate Banking, HL Bank Singapore

●       Haoson Law, Regional Head of Rates and Forex Trading, HL Bank Singapore  

“Our commitment to Singaporean businesses extends beyond just transactions; we are invested in their long-term prosperity. As the JS-SEZ unfolds as ASEAN's next engine of growth, the Bank will be a steadfast partner, providing the financial backbone and expert insights to help our clients not just participate, but truly flourish in this exciting new chapter of regional economic integration,” said Ng Wee Lee, Chief Executive of HL Bank Singapore.

HLBS offers a full suite of banking services, from financing and cash management to global markets expertise and employee banking, designed to support businesses at every stage of their growth. Supported by a dedicated team of industry and client coverage specialists, these services include tailored financing solutions for Singapore corporate and SME businesses looking to set up or expand their operations within the JS-SEZ.

"The JS-SEZ is not just about today's opportunities but has the potential to reshape part of the economic future of ASEAN. Hong Leong Bank's cross-border financial solutions and specialized sector support in high-growth areas like advanced manufacturing and the digital economy, are future-forward. We are equipping our clients with the tools and insights they need to not only seize current advantages but also to be at the forefront of this strategic initiative and economic integration that the JS-SEZ promises,” said Yow Kuan Tuck, HLB’s Managing Director of Business & Corporate Banking.

HLB provides streamlined and efficient cash management solutions to optimize working capital, offering Malaysian and Singaporean corporate and SME businesses access to bespoke and competitive capital expenditure (CAPEX) and working capital financing options, in addition to property financing.

For businesses engaged in international trade, HLB’s Global Markets division offers a wide range of treasury and foreign exchange solutions, enabling them to navigate the complexities of cross-border transactions. Aligning with JS-SEZ’s aspiration to be a hub for innovation, customers can leverage HLB’s digital infrastructure, HLB Connect First, to facilitate international payments and accelerate economic integration.  

HLB also provides specialized sector support with industry specialists from growth sectors, including advanced manufacturing, logistics, the digital economy and the green economy, and offers comprehensive banking services for employees of companies within the JS-SEZ.

The forum also highlighted the attractive incentives within the JS-SEZ, such as the special corporate tax rate and knowledge worker tax rate, designed to further drive investment and growth.