Hong Leong strengthens platforms in China

Hong Leong and China Development Bank will collaborate in Malaysian and Chinese projects through a Cooperation Agreement.

It sets the platform for the HLB Group, including its subsidiary Hong Leong Islamic Bank Berhad and CDB to collaborate and co-operate with each other in various areas including funding, financing opportunities, currency swaps, personnel exchange and training as well as information exchange.

Ms. Yvonne Chia, Group Managing Director / Chief Executive, Mr. Kua Wei Jin, Chief Operating Officer, Wholesale Banking of HLB and Ms. Saw Ann Ping, Head of Islamic Investment Banking were in Beijing for the signing ceremony.

"It forms the basis to coordinate with each other for CDB to expand and extend its funding capacity, financing support and financing channels into our local economic projects and financial system. To this end, HLB will assist CBD in market penetration, due diligence and co-ordination," commented Ms. Yvonne Chia, Group Managing Director / Chief Executive of HLB, about the cooperation agreement.

"HLB will be working hand in hand with CDB to share and enhance bilateral knowledge on the policies, regulations, financial market and economic development of both countries," Ms. Chia added.

"China is a global economic superpower. The upside and opportunities are immense. China is today a key market for the Group and through our 20 percent equity stake in Bank of Chengdu Co., Ltd. and the Cooperation Agreement with China Development Bank, we have specific platforms to participate on the growth and upside potential of the market in China. We are very excited with these developments and are bullish on the prospects," Ms. Chia continued.