UOB to set up FDI advisory units prompted by rising intra-regional trade

JOHOR BARU: Rising intra-regional trade and the growing interest among Singapore's businesses to expand into Iskandar Malaysia have prompted Singapore-based banking group UOB to set up five foreign direct investment (FDI) advisory units in five countries.

United Overseas Bank Ltd managing director and group head of commercial banking Eric Tham said other than Malaysia, these advisory units would be set up in Thailand, Indonesia, China and India. The first one was set up in Singapore in 2010 and Malaysia's FDI unit was unveiled last week. Thailand's unit will be launched in this month.