OCBC Bank has rolled out dedicated teams in both Singapore and Malaysia to assist small and medium-sized enterprises (SMEs) aiming to establish themselves within the new Johor-Singapore Special Economic Zone (JS-SEZ).

The bank has assembled a group of 25 bankers—15 based in Singapore and 10 in Malaysia—to offer tailored guidance to SMEs seeking to start operations in the JS-SEZ. These teams will also help facilitate crucial connections between businesses and potential partners within the zone.

The bank’s strategy, as highlighted by one of its representatives, is to focus on attracting investments from outside of ASEAN. “Whether we can outgrow the competition – because every other bank is also looking at the JS-SEZ – I think each and every (bank) has a different play,” he said, emphasising that OCBC’s approach is unique.

OCBC’s efforts aim to support SME clients from across key markets, including Singapore, Malaysia, Indonesia, China, and Hong Kong, to set up in the zone. The bank currently operates 38 branches across Malaysia, including eight in Johor.

While the signing of the JS-SEZ agreement between Singapore and Malaysia has been delayed due to the postponement of the 11th Singapore-Malaysia Leaders’ Retreat, business leaders in Singapore remain hopeful about the potential for cost savings from relocating operations to Johor. Although specific incentives for companies within the zone have yet to be clarified, optimism about its benefits continues to grow.