In order to accelerate the development of the Johor Bahru Special Economic Zone, six local Malaysian banks have signed a letter of intent with the Ministry of International Banking and Economy to help facilitate the attraction of capital to the zone. At present, the total investment intention of these banks has reached as high as RM2.35 billion, which fully reflects the high recognition of financial institutions on the future potential of the special zone.
It is reported that the cooperation includes Malayan Banking Berhad, as well as five international financial institutions such as United Chang Group, Galaxy International Securities, Sumitomo Mitsui Banking Corporation, Bank of America and HSBC. The exact amount of investment by the other five banks is yet to be officially disclosed.
Among them, against the backdrop of surging demand for sustainable biofuels, Alpine announced that its subsidiary plans to invest about RM350 million over the next three years to build a renewable energy feedstock pre-treatment and regenerative biodiesel refinery at Johor Tanjung Langsar Port. The project is expected to process approximately 600,000 tons of renewable feedstock oil per year and convert it into finished biofuel products.
This series of initiatives not only highlights the strong attraction of the Johor Special Economic Zone, but also shows the accelerating development trend of the integration of global financial capital and the green energy industry. With the simultaneous promotion of policy support and industry landing, Johor SEZ may become a new engine for green economy development in Southeast Asia.
