StanChart to support Axiata's RTMC setup
Sep 09, 2013
Singapore, September 5th 2013 - Standard Chartered today announced that it has been appointed as the lead treasury advisor for the setup of Axiata Group Berhad ("Axiata") regional treasury management centre (RTMC). Axiata is one of Asia's largest telecommunications companies with operations in nine Asian countries including Indonesia, India and Singapore.
In response to its continued business expansion and growing operational complexity, Axiata decided to centralise all its treasury activities in various operating countries to better support its business needs and enhance its competitiveness. The set-up of a RTMC helps align treasury policies across the group, improve the visibility of information and fund flows, and significantly reduce the resources in processing them.
Standard Chartered supported Axiata by providing guidance and facilitating a disciplined process in centralising its treasury activities in various operating countries to achieve cash management efficiency, capital optimisation and risk management. The Bank provided a customised cash management solution to give Axiata and its subsidiaries an end-to-end visibility over all its cash flows for efficient and effective liquidity and risk management.
Jiten Arora, Global Head of Sales, Transaction Banking, Standard Chartered, said:
"We are delighted to be supporting Axiata in building a RTMC and strengthening their internal treasury processes. We see increasing number of fast-growing Asian corporates find it compelling to set up a RTMC to support their growth agenda in the region and beyond. The treasury centralisation and automation across the group means improved working capital management efficiency and it will ultimately help sharpen its business competitiveness."
Standard Chartered has a client-centric approach and the RTMC is another example of the Bank's commitment and expertise to support clients as they grow in emerging markets across Asia, Africa and Middle East.
Re-disseminated by The Asian Banker
Categories: Transaction Banking
Keywords: Axiata Group
, Standard Chartered Bank