CIMB in JV with Philippine telco

Zafrul: ‘This partnership comes at an opportune time when the roles of telecommunications providers and banks are increasingly converging.’ — Bloomberg

KUALA LUMPUR: CIMB Group Holdings Bhd has entered into a strategic collaboration agreement with Philippine Long Distance Telephone Co (PLDT) to push digital financial offerings and solutions in the Philippines and across Asean.

It said in its filing with Bursa Malaysia on Wednesday that its unit CIMB Group Sdn Bhd entered into the agreement with PLDT’s wireless services provider, Smart Communications Inc and its wholly-owned digital unit Voyager Innovations Inc.