KUALA LUMPUR: Malayan Banking Bhd
(Maybank) and Haier Energy Sdn Bhd, a subsidiary of China's Haier Group, have formed a strategic partnership to facilitate the growth of Haier's new energy platform and ecosystem.
Haier Energy's platform combines AI-enabled technologies and advanced solar photovoltaic solutions, energy storage, and smart energy systems to deliver efficiencies, and reduce emissions and energy costs for customers.
In a joint statement, the parties said the partnership, formalised by a heads of agreement, will initially focus on Malaysia, but there are plans to expand into selected markets in Asean.
Maybank will leverage its regional business banking platform, Maybank2E, and its comprehensive suite of products and services to support Haier Energy’s expansion and facilitate supply chain agility.
Specifically, the collaboration will encompass integrated transaction banking, payments and financing solutions, including credit card partnerships and financing facilities for retail clients, Islamic financing, sustainability finance, supply chain financing, cash management, trade finance, treasury and foreign exchange services.
"The partnership with Haier Energy aligns with Maybank's commitment to playing a bigger role in Asean's energy transition and the China-ASEAN economic corridor, where China is one of Asean’s top investors and trading partners. We expect the China+1 strategy to continue with companies seeking to diversify and expand into new markets in Asean," said Maybank's group CEO of global banking Datuk John Chong.
Haier Energy, Haier Energy Technology Co Ltd general manager Ji Xaiojian said a strong banking partner like Maybank is critical to supporting its cross-border expansion.
"We see Asean as strategically important. It is dynamic, expanding faster than the global average, and offers growth opportunities in smart energy generation, storage and infrastructure.”
