Many corporate treasurers are realising that the only way to achieve effective control of their corporate treasury operations in Asia-Pacific is to have their own local experienced team in the region. Many governments and local authorities see this as a great growth opportunity to attract business, e.g. China’s Shared Service Centres initiatives.  

Axiata‘s regional treasury management centre
Standard Chartered has been appointed as the lead treasury advisor for the setup of Axiata Group‘s regional treasury management centre (RTMC) Iin Malaysia. Axiata, a large telecommunications company, have decided to centralize all its treasury activities in various operating countries to improve support for its business needs and enhance its competitiveness. The set-up of a RTMC helps align treasury policies across the group, improve the visibility of information and fund flows, and significantly reduce the resources in processing them.

Standard Chartered supported Axiata by providing guidance and facilitating a disciplined process in centralizing its treasury activities in various operating countries to achieve cash management efficiency, capital optimisation and risk management. The bank provided a customized cash management solution to give Axiata and its subsidiaries an end-to-end visibility over all its cash flows for efficient and effective liquidity and risk management.

Citi, InvestPenang promote Penang, Malaysia as a treasury management hub
Citi is teaming up with InvestPenang to promote Penang and Malaysia as a strategic centre for treasury management activities. The government-private sector pro-business collaboration aims to attract foreign and local companies in the technology industry to centralize or consolidate their regional or global treasury management operations in Malaysia.

Last July, the Citigroup Transaction Services (Malaysia) (CTSM) launched its second premises at One Precinct in Penang, signalling the financial institution’s continued investment to develop and grow its operations and re-establish Penang as a hub for financial services in Malaysia.