Maybank Group is doubling down on its commitment to ASEAN integration, unveiling a robust strategy that leverages regional connectivity, rising intra-ASEAN trade, and the burgeoning middle class to drive sustainable growth across its footprint.
With full banking licenses in Malaysia, Singapore, and Indonesia, and operations in all 10 ASEAN markets, Maybank is positioning itself as the financial backbone of Southeast Asia’s evolving economic landscape. President and Group CEO Dato’ Sri Khairussaleh Ramli emphasized the bank’s human-centric philosophy: “We want to do good, and hopefully, do well.”
ASEAN: A Region on the Rise
- Intra-ASEAN trade rebounded 7.03% in 2024, outpacing broader RCEP trade and signaling strong regional integration.
- FDI into ASEAN surged 10% YoY to US$225 billion, defying global trends and reinforcing the bloc’s investment appeal.
- Singapore, Maybank’s second-largest market, contributed 22% to FY2024 profit before tax and remains a strategic hub for wealth and cross-border business.
JS-SEZ: A Game-Changer for Cross-Border Growth
The Johor-Singapore Special Economic Zone (JS-SEZ) is emerging as a cornerstone of Maybank’s regional strategy. With 37 branches and multiple service centers in Johor, and 18 branches in Singapore, Maybank is uniquely positioned to facilitate corridor growth.
- RM8 billion in financing has already been disbursed to Singapore-based companies investing in Johor, with half earmarked for data centers.
- Maybank Singapore signed an MoU with SCCCI to boost cross-border collaboration.
- Plans are underway for a “phygital” branch in Forest City, blending virtual consultation with in-person services.
Sectoral Focus: From Halal Economy to Digital Transformation
Maybank is actively supporting sectors such as:
- Healthcare, logistics, and technology — with showcased companies ready to establish in JS-SEZ.
- Halal manufacturing — offering not just Shariah-compliant financing but also halal certification facilitation.
- SMEs and wealth management — especially in Indonesia, where Maybank has 350 branches and deep roots in the SME segment.
Despite global headwinds, Maybank reported a 4% YoY rise in net profit to RM2.59 billion in 1Q2025. The bank’s diversified presence and strategic focus on corridor economies like Malaysia-Singapore-Indonesia (Sijori) are expected to yield long-term dividends.
Bloomberg Intelligence forecasts a lending uptick for Malaysian banks, with Maybank leading in working-capital loans at 30% of its portfolio.
“If the country has ambition, we should mirror that ambition,” said Khairussaleh. “Because if the country succeeds, then there is a good chance that Maybank will also succeed.”
