Treasury activities now centralised in Malaysia.
In a release, Standard Chartered today announced that it has been appointed as the lead treasury advisor for the setup of Axiata Group Berhad 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.
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