Maybank expects 10% annual growth in Japan business


Malayan Banking Bhd, which has set up a Japan desk with Mizuho Corporate Bank Ltd of Japan, expects a 10% annual growth in trade volume in view of the growing confidence among Japanese entrepreneurs in the Malaysian economy. 

The business alliance between Maybank and Mizuho, which was sealed in Kuala Lumpur yesterday, will provide Japanese businessmen with such financial services as credit facilities, trade financing, cash management services, corporate advisory and remittance, among other things. 

Maybank president and chief executive officer Datuk Amirsham A Aziz (left) exchanging documents with Mizuho Corportae Bank Ltd of Japan managing executive officer, head of Asia & Oceania Akio Takeuchi after the signing ceremony to set up the Japan Desk in Maybank.

Speaking at the signing ceremony in Kuala Lumpur, Maybank president and chief executive officer Datuk Amirsham A. Aziz said the Japan desk in Maybank would enhance Maybank's services to its Japanese customers as well as expand its market to other Japanese clients. 

“The establishment of the Japan desk is a continuing strategy of Maybank to establish strategic partnerships with world-class corporations that will provide better services to our customers. 

“Our alliance with the world's largest financial group is a win-win situation. We are able to bring mutual benefit to both banks as well as higher value benefits to our customers, especially Japanese clients,” he said. 

Mizuho is part of the Mizuho Financial group in Japan, the world's largest financial group with total assets exceeding US1.1trillion.  

According to latest trade figures, Malaysian exports to Japan in January totalled RM3.5bil, a 5.8% increase compared with the corresponding month last year. Imports from Japan were valued at RM4bil. 

Mizuho managing executive officer, head of Asia & Oceania, Akio Takeuchi, said given the very dynamic changes in the Asian economies and financial markets, Asia represented one of the most important regions in Mizuho's business strategy. About 60% of the 1,400 Japanese companies in Malaysia are Mizhuho's clients. 

Maybank executive vice-president and head of enterprise financial services group Zulkiflee Abbas Abdul Hamid said Japan was the bank's biggest trading partner, ahead of the US and Europe. 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


Next In Business News

Top Glove predicts 3% hit on FY21 sales due to production halt �
Airlines set to lose US$157bil amid worsening slump - IATA
AirAsia looks beyond losses to travel return
CPO December contract closes lower at RM3,448
My EG posts net profit of RM70.74m in 3Q
Leong Hup International's 3Q results up on-quarter
Inari sees strong demand for 5G RF components as Q1 net profit soars
PBA 3Q net profit jumps nearly 83% to RM11.3m
Majuperak returns to profit after three consecutive loss-making quarters
UEM Sunrise posts RM28.9mil loss in Q3�

Stories You'll Enjoy