Aug 06, 2013
Hong Kong, July 29th 2013 - Reval, a leading global Software-as-a-Service (SaaS) provider of comprehensive and integrated Treasury and Risk Management (TRM) solutions, announced today that Axiata Group Berhad (Axiata), one of Asia’s largest telecommunications companies, has selected Reval to centralise its treasury operations and build one of Malaysia's first regional Treasury Management Centres designed to service their operating entities in Malaysia, Cambodia, Sri Lanka and Bangladesh.
“We are thrilled to welcome Axiata to our growing client community in Asia Pacific,” says Tony Singleton, Managing Director APAC at Reval. “With 5.1% predicted GDP growth rates for both 2013 and 2014, we expect Malaysia to develop into the regions third major treasury hub, alongside Singapore and Hong Kong, and we look forward to supporting expanding corporations like Axiata with our technology and expertise as they optimise their financial operations in Asia Pacific´s multi-currency and cross-border environment.”
The Malaysian Investment and Development Authority is offering tax incentives over a period of five years to encourage companies to locate Treasury Management Centres (TMC) in the country. Axiata is qualified under the TMC status.
Re-disseminated by The Asian Banker