Press Release 2014

UOB Malaysia wins Best Foreign Cash Management Bank award in Asiamoney Cash Management Poll 2014

Kuala Lumpur, 25 August 2014 - United Overseas Bank (Malaysia) Bhd (UOB Malaysia) has been named the best foreign cash management bank in Malaysia, as voted by small, medium and large-sized corporates.

UOB Malaysia was also chosen by businesses for providing the best foreign domestic cash management services1 and the best foreign cross-border cash management services2. The Bank won a total of eight awards for Malaysia at the Asiamoney Cash Management Poll 20143, receiving two additional awards compared with last year.

Mr Wong Kim Choong, Chief Executive Officer of UOB Malaysia, welcomed the recognition as it was based on the votes of customers.  "The awards show that our customers appreciate the help we provide for them to achieve greater business efficiency through customised cash management. Our cash management customer base has grown 16 per cent year-on-year in 2013.  We expect this double-digit growth to continue this year as more businesses shift from paper-based to online transactions to improve the management of their working capital."

Mr Wong said UOB Malaysia will continue to invest in enhancing the Bank's cash management capabilities to meet increasing demand by businesses for solutions that can help them to manage better their liquidity and counterparty risk as well as to maximise their interest yield.

The enhancements include raising the Interbank GIRO limit per transaction to cater for increasing business capacity, setting up a system to enable businesses to identify easily the source and purpose of payments to their clients and suppliers, and introducing new reporting capabilities to help businesses reconcile their payables and receivables more effectively. UOB Malaysia has also added an extra layer of security via its two-factor authentication eBanking sign-on for all online transactions.

The eight Asiamoney awards won by UOB Malaysia are among the total of 23 Asiamoney cash management awards won by the UOB Group in the region, including Best Foreign Cash Management Bank in China4, Best Local Cash Management Bank in Singapore5, and Best Foreign Domestic and Cross-border Cash Management Services Provider in Thailand6 (see appendix for full listing).

Appendix – List of Awards

UOB Malaysia

  1. Best Foreign Cash Management Bank in Malaysia as voted by small-sized corporates*
  2. Best Foreign Cash Management Bank in Malaysia as voted by medium-sized corporates*
  3. Best Foreign Cash Management Bank in Malaysia as voted by large-sized corporates*
  4. Best Foreign Domestic Cash Management Services in Malaysia as voted by small-sized corporates*
  5. Best Foreign Domestic Cash Management Services in Malaysia as voted by medium-sized corporates*
  6. Joint #1 Best Foreign Domestic Cash Management Services in Malaysia as voted by large-sized corporates
  7. Best Foreign Cross-Border Cash Management Services in Malaysia as voted by small-sized corporates*
  8. Best Foreign Cross- Border Cash Management Services in Malaysia as voted by medium-sized corporates

* UOB Malaysia also won these awards in the Asiamoney Cash Management Poll 2013. 

UOB China

  1. Best Foreign Cash Management Bank in China as voted by small-sized corporates
  2. Best Foreign Cash Management Bank in China as voted by large-sized corporates
  3. Best Foreign Domestic Cash Management Services in China as voted by small-sized corporates
  4. Best Foreign Cross-Border Cash Management Services in China as voted by small-sized corporates

UOB Singapore

  1. Best Local Cash Management Bank in Singapore as voted by small sized corporates
  2. Best Local Cash Management Bank in Singapore as voted by medium-sized corporates
  3. Best Local Cash Management Bank in Singapore as voted by large-sized corporates
  4. Best Overall Domestic Cash Management Services in Singapore as voted by small-sized corporates
  5. Best Overall Domestic Cash Management Services in Singapore as voted by medium-sized corporates
  6. Best Overall Cross-Border Cash Management Services in Singapore as voted by small-sized corporates
  7. Best Overall Cross-Border Cash Management Services in Singapore as voted by medium-sized corporates
  8. Best Overall Cross-Border Cash Management Services in Singapore as voted by large-sized corporates
  9. Best Local Currency Cash Management Services for SGD as voted by Financial Institutions

UOB Thailand

  1. Best Foreign Domestic Cash Management Services in Thailand as voted by medium-sized corporates
  2. Best Foreign Cross- Border Cash Management Services in Thailand as voted by medium-sized corporates

.............................................................................................................................................................................

1 As voted by small, medium and large-sized corporates in Malaysia.
2 As voted by small and medium-sized corporates in Malaysia.
3 The Asiamoney Cash Management Poll is organised annually by the Hong Kong-based Asiamoney financial magazine. In its 24th year, the poll seeks to recognise banks that are able to offer the best cash management advice and solution to their customers. This year's results are based on more than 10,000 votes from senior treasury and finance executives in listed companies, multinationals, and small and medium enterprises.
4 As voted by small and large-sized companies in China.
5 As voted by small, medium, and large-sized companies in Singapore.
6 As voted by medium-sized companies in Thailand.

 

Copyright © United Overseas Bank (Malaysia) Bhd. (271809-K). All Rights Reserved.