Standard Chartered has been appointed as the lead treasury advisor for the setup of Axiata Group Berhad regional treasury management centre.
Axiata is one of Asia’s largest telecommunications companies with operations in nine Asian countries including Indonesia, India and Singapore.
Axiata decided to centralise all its treasury activities in various operating countries.
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.
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.”
