OCBC Bank (Malaysia) Berhad (OCBC Bank) has signed a Memorandum of Understanding (MoU) with Beibu Gulf Holding (Malaysia) Sdn Bhd (BGHM) to attract investors to set up business operations in the Malaysia-China Kuantan Industrial Park (MCKIP).

MCKIP, strategically located in Kuantan, in the Special Economic Zone (SEZ) of the East Coast Economic Region (ECER), is the first industrial park to be accorded “National Industrial Park” status in Malaysia. Jointly developed by Malaysia and China and set up in 2013, MCKIP is modelled after its sister park in China, the China-Malaysia Qinzhou Industrial Park (CMQIP). Built on a 685-hectare site, MCKIP targets high-end industries from not only China and Malaysia, but also other parts of the world.

Speaking at the MoU signing ceremony, Mr Lu Yong, Executive Deputy General Manager, BGHM said MCKIP’s proximity to the Kuantan Port and other industrial parks in the ECER enables them to create excellent synergies to promote high end and high technology industries such as stainless steel products, electrical and electronics, information communication technology, renewable energy and many others.

“Today we take this latent synergy into new frontiers by linking up with the Malaysian arm of Southeast Asia’s second largest banking group by assets, OCBC. We are confident that, with their strong presence in ASEAN-Greater China, as well as the established China Business unit that integrates multiple departments within the bank – covering corporate, commercial and personal Banking – they are able to provide one-stop services for Chinese enterprises and investors. Their China Business unit will be able to help us both bring in and support investors to MCKIP so our cross-border trade ideals can be realised,” he said.

OCBC and BGHM have agreed to leverage on each other’s expertise in their respective fields to support existing and potential investors in MCKIP and its surrounding industrial land.

MoU between OCBC Bank and Beibu Gulf Holding: (L-R) Chen Zhuo Li, Chief Investment Officer, Beibu Gulf Holding (Malaysia) Sdn Bhd; Hu Ke, Chief Operating Officer, Beibu Gulf Holding (Malaysia) Sdn Bhd; Ang Eng Siong, Chief Executive Officer, OCBC China; Lu Yong, Executive Deputy General Manager, Beibu Gulf Holding (Malaysia) Sdn Bhd; Leong Pei Pei, Head of China Business, OCBC Bank (Malaysia) Berhad; Gideon Wong, Managing Director of Wholesale Corporate Banking, OCBC Bank (Malaysia) Berhad; and Seth Tan, Head of Corporate Banking, OCBC China

OCBC Bank’s Head of China Business Ms Leong Pei Pei said the MCKIP and CMQIP are the first sister parks of its kind in the respective countries, creating a new model for international cooperation represented by the concept of “Two Countries, Twin Parks”.

“They represent the preferred idustrial parks for investors from China in view of the good infrastructure and promotion by the governments. In conjunction with the 50^th anniversary of the diplomatic ties between China and Malaysia, we believe this MOU between OCBC and BGHM will be beneficial to both our existing and potential overseas investors, especially from China, as the parties continue to collaborate and support inbound investors from both nations.

“OCBC Bank will support BGHM’s continuing development in MCKIP and surrounding industrial land by introducing potential investors to BGHM and providing value-added banking solutions that meet BGHM’s existing and potential investors’ needs.

“With our strong presence across ASEAN-Greater China through the OCBC Group, we are poised to provide solid support to Beibu Gulf Holding in making the MCKIP thrive. We are pleased with this collaboration and look forward to deepening Malaysia-China ties, notably in trade and investments to Malaysia,” she said.

For more information on MCKIP, please visit www.mckip.com.my