Johor-Singapore SEZ gets initial investors

Johor-Singapore SEZ gets initial investors

28 Feb 2025

THE Johor-Singapore Special Economic Zone (JS-SEZ) has landed one of its earliest investors – Hong Kong-listed Gold Peak Technology Group.

Gold Peak, a battery technology and energy storage solutions company, intends to expand in the region with a proposed RM670mil investment involv- ing the establishment of a manufacturing and research- and-development facility.

Johor Mentri Besar Datuk Onn Hafiz Ghazi said the investment would bring advanced manufacturing capabilities, high-­quality job opportunities and sustainable economic growth to the state.

At the Iskandar Puteri event, Onn Hafiz also launched United Overseas Bank’s (UOB) Green Lane initiative with Invest Johor, which would fast-track investments into the JS-SEZ.

The ceremony also saw the intro­duction of Gold Peak as UOB’s first client under the Green Lane, where the Hong Kong firm’s executive director and managing director Michael Lam presented a letter of intent to Invest Johor chief executive officer Natazha Hariss.

Lam said the JS-SEZ presented a strategic opportunity for Gold Peak to expand its footprint in South-East Asia.

“Our future facility will serve as a hub for innovation in battery technology and energy storage.

“It will focus on producing next-generation battery technologies and is expected to play a pivotal role in advancing sustainable energy storage solutions, mainly for data centres across South-East Asia.

“The company’s proposed investment is expected to create approximately 150 to 180 employment opportunities, contributing to the region’s socio-economic development and driving innovation,” he said.

UOB Malaysia chief executive officer Ng Wei Wei said its Green Lane initiative was an outcome arising from the memorandum of understanding signed with Invest Johor at the Asean conference in August last year.

Source: The Star