KUALA LUMPUR: OCBC Bank (Malaysia) Bhd has entered into a memorandum of understanding (MoU) with Beibu Gulf Holdings (Malaysia) Sdn Bhd (BGHM) aimed at encouraging investors to establish business operations in the Malaysia-China Kuantan Industrial Park (MCKIP).
The industrial park covers a sprawling 685-hectare expanse, strategically positioned to appeal to high-end industries not only from China and Malaysia but from diverse global regions.
Established through collaboration between Malaysia and China in 2013, MCKIP is fashioned after its counterpart in China, the China-Malaysia Qinzhou Industrial Park (CMQIP).
"OCBC Bank and BGHM have mutually agreed to utilise their expertise in their respective domains to assist both current and prospective investors in MCKIP and the adjacent industrial land," it said.
OCBC Bank head of China business Leong Pei Pei remarked that MCKIP and CMQIP are the inaugural sister parks of their kind in Malaysia and China, introducing a novel model for international collaboration symbolised by the concept of "Two Countries, Twin Parks."
"They represent the preferred industrial parks for investors from China in view of the good infrastructure and promotion by the governments.
"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," she added.
BGHM executive deputy general manager Lu Yong highlighted MCKIP's strategic location near Kuantan Port and neighboring industrial parks in the ECER.
The proximity enables the creation of synergies to support high-end industries such as stainless steel products, electronics, renewable energy, and more.
He mentioned that OCBC Bank's China Business Unit can assist in attracting and supporting investors for MCKIP, thereby facilitating the realisation of cross-border trade objectives.
Situated in Kuantan within the Special Economic Zone (SEZ) of the East Coast Economic Region (ECER), the industrial park holds the distinction of being Malaysia's inaugural industrial park to receive "National Industrial Park" status.