Singapore's UOB to bankroll Malaysia's Johor economic zone projects

Lender plans to 'fast-track' investments, starting with $150m battery plant

20250219 Ng Wei Wei

Ng Wei Wei, chief executive of UOB Malaysia, speaks during a conference in Johor on Feb 19. (Photo by Dylan Loh)

DYLAN LOH

JOHOR BAHRU, Malaysia -- Singapore's United Overseas Bank on Wednesday announced a plan to bankroll and support projects in a special economic zone (SEZ) in Malaysia's Johor state, as interest in investing in the area heats up among companies in Southeast Asia.

UOB said it will "fast-track" investments into the zone, billed as a landmark bilateral project of the Malaysian and Singaporean governments to boost economic exchange, located just north of the city-state's border.

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