JP Morgan Treasury Services has reported investments in Malaysia designed to strengthen its domestic capabilities.
This comes as part of the bank’s US$1bn global investment, which was announced in 2008.
The treasury has completed the integration of its in-country treasury management service which offers core infrastructure to provide clients with working capital management solutions.
JP Morgan has had a presence in Malaysia since 1964 and is implementing a three-year plan both to increase the number of employees working for its Malaysian Treasury Services operations and to provide clients with operations in the country the opportunity to use JP Morgan Access, the bank’s global internet banking platform for cash management, information reporting, trade services and foreign exchange.
The treasury services provides cash management services with nationwide coverage in Malaysia, including high-value payments, paper clearing, payables and receivables management as well as trade finance and liquidity management services.
Raof Latiff, managing director and Asia head of treasury services clearing and foreign exchange at JP Morgan says: “As Malaysia’s economy grows and trade flow increases, corporate requirements will become increasingly complex, driving the demand for efficiency and for integrated solutions.
Clement Chew, JP Morgan’s senior country officer in Malaysia adds: “These investments are an important thrust in our plans to build on JP Morgan’s franchise in Malaysia. They also add to our recent product expansion in various areas, for example, we have used our onshore securities platform to develop our futures and options and stock-borrowing lending capabilities locally to be able to offer our clients a wider range of services.
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