Standard Chartered Supports Axiata in Establishing
Regional Treasury Management Centre
Kuala Lumpur, 5 September 2013
- Standard Chartered today announced that it has been appointed as the lead treasury advisor for the setup of Axiata Group Berhad ("Axiata") regional treasury management centre (RTMC) in the country.
Axiata is one of Asia's largest telecommunications companies with operations in nine Asian countries including Malaysia, Indonesia, India and Singapore.
Saif Malik, Head of Origination and Client Coverage, Standard Chartered Bank Malaysia said:
"We are delighted to be supporting Axiata in building a RTMC and strengthening their internal treasury processes. We see increasing number of fast-growing Asian corporates find it compelling to set up a RTMC to support their growth agenda in the region and beyond. The treasury centralisation and automation across the group means improved working capital management efficiency and it will ultimately help sharpen its business competitiveness."
Axiata decided to centralise all its treasury activities in various operating countries in response to its continued business expansion and growing operational complexity to better support 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 centralising its treasury activities in various operating countries to achieve cash management efficiency, capital optimisation and risk management.
The Bank provided a customised 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.
The RTC is another example of the Standard Chartered's commitment and expertise to support clients as they grow in emerging markets across Asia, Africa and Middle East.