Story perspectives

Gold Peak Invests RM670M in Johor Battery Facility

2/20/2025

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Summary

Gold Peak Invests in Battery

Gold Peak Technology Group invests RM670 million (US$150 million) in a nickel-zinc battery facility in the Johor-Singapore Special Economic Zone.
This investment addresses the growing demand from the data center sector and is expected to create 150-180 jobs by 2028.
Gold Peak is the inaugural investor under UOB's Green Lane initiative, expediting investment approvals.
The JS-SEZ fosters economic collaboration and connectivity between Malaysia and Singapore.

Summary

UOB Streamlines Investments

UOB Malaysia and Invest Johor introduced the "Green Lane" initiative to streamline investments in the Johor-Singapore Special Economic Zone (JS-SEZ).
This initiative aims to minimize bureaucratic delays for investors, following a memorandum signed at the 2024 ASEAN Conference.
UOB collaborates with over 20 companies, drawing interest from global investors in North Asia and Europe.
The JS-SEZ provides incentives, including lower corporate tax rates, to attract high-value investments.

History

Historical Context

Gold Peak's RM670 million investment in a nickel-zinc battery facility echoes historical trends of special economic zones (SEZs) promoting foreign investment. Since China's 1978 reforms, SEZs have attracted global businesses, boosting local economies and job creation, similar to the Johor-Singapore initiative's goals for economic collaboration.

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Gold Peak Invests in Battery

Gold Peak Technology Group invests RM670 million (US$150 million) in a nickel-zinc battery facility in the Johor-Singapore Special Economic Zone.
This investment addresses the growing demand from the data center sector and is expected to create 150-180 jobs by 2028.
Gold Peak is the inaugural investor under UOB's Green Lane initiative, expediting investment approvals.
The JS-SEZ fosters economic collaboration and connectivity between Malaysia and Singapore.

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