[JOHOR BAHRU] Hong Kong’s Gold Peak Technology Group is making a splash in the newly established Johor-Singapore Special Economic Zone (JS-SEZ) by committing RM670 million (S$203 million) to build a cutting-edge manufacturing and research and development facility.
The new plant of this global leader in battery technology and energy storage solutions will be dedicated to producing nickel-zinc batteries for the rapidly growing data centre industry. It is set to create up to 180 jobs and enhance the company’s export capabilities, said Daniel Chua, senior vice-president of GP Energy Tech International, a subsidiary of Gold Peak Technology Group.
The facility, expected to be operational by 2028, is set to bolster Malaysia’s position as a key player in the energy-storage market. The company is now scouting for a suitable location within the JS-SEZ, and would prefer one within the ecosystem and with the necessary infrastructure to export its products.
“The new plant will be in addition to our existing three battery manufacturing facilities in Johor, which produce various types of batteries, including alkaline batteries,” Chua told journalists on the first day of the Johor Bahru Business Mission on Wednesday (Feb 19).
Gold Peak Technology Group is a major shareholder of Singapore-listed Gold Peak Industries.
The latest investment coincides with the boom in Malaysia’s data centre industry, particularly in Johor, which has emerged as a key regional hub.
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Gold Peak Technology has already begun producing and exporting nickel-zinc batteries for data centres from its Dongguan facility in China. Meanwhile, until the new facility is operational, the company also plans to manufacture these batteries at its existing Johor plants in Tampoi, Senai and Tebrau.
Green Lane – set for launch
Gold Peak Technology became the first company to pledge an investment under UOB’s Green Lane initiative, designed to fast-track investment approval processes. The initiative was launched on Wednesday at an event held by the Singapore Business Federation (SBF) and supported by UOB, Rajah & Tann and RSM Singapore.
UOB is the first bank to collaborate with the Johor state government to launch such an initiative, under which it will carry out pre-qualification assessments for companies seeking approval, to ensure that they meet Invest Johor’s criteria before submission.
Invest Johor is a one-stop centre to facilitate and promote investments in the Malaysian state.
UOB Malaysia chief executive officer Ng Wei Wei highlighted the bank’s role in facilitating cross-border investments between Malaysia and Singapore, following a memorandum of understanding signed by the bank and Invest Johor in August 2024.
For example, it has set up dedicated JS-SEZ desks in Johor and Singapore, offering comprehensive financial and advisory services, in an effort to streamline processes. Additionally, the bank has introduced a fast-lane account opening service for Singapore-based clients, so they can quickly set up banking facilities in the SEZ.
“The interest (to invest in JS-SEZ) is growing and we expect this will continue, maybe accelerate, during Donald Trump’s administration, as most companies are looking to diversify their trade and supply chain,” she added.
UOB is the largest foreign bank in Malaysia, and operates 55 branches nationwide, including seven in Johor.
Lim Ming Yan, chairman of SBF, said the federation has reached out to more than 450 companies in Singapore, delivered over 80 market advisories and facilitated projects to open doors to new opportunities across diverse industries.
“The JS-SEZ plays a crucial role in creating a seamless ecosystem where businesses from both countries can thrive, leveraging (the) two countries’ strengths,” he added.
JS-SEZ five-year blueprint by midyear
Meanwhile, Johor Chief Minister Onn Hafiz Ghazi said the state and federal governments are working on finalising the five-year JS-SEZ master plan, which is expected to be concluded by June.
He added that the finance ministry’s earlier announcement of a RM5-billion infrastructure fund would be tied to the master plan to enhance infrastructure development in the SEZ.
Onn Hafiz also said that the authorities are continuing to work on enhancing the cross-border connectivity to ease the movement of people and goods. This includes adding more auto gates and motorcycle lanes, as well as investing more in technology to smoothen the immigration clearance process.
