26/05/2025

BANKING & INSURANCE 12 MONDAY | MAY 26, 2025

Maybank, ONE KL pioneer single family office in Forest City SFZ

PETALING JAYA: Malayan Banking Bhd (Maybank), together with ONE KL Management Sdn Bhd – the family office of CMY Capital founded by Tan Sri Chua Ma Yu – has secured the first pilot single family office establishment under the Malaysian Single Family Office Scheme in the Forest City Special Financial Zone (FCSFZ). The partnership with ONE KL underscores Maybank’s leadership in delivering bespoke, cross-border solutions to high net worth clients

hubs where we can truly understand and serve our customers’ evolving needs. It also helps us serve new and developing communities, where we can become the first bank for its residents and businesses, and work to meet their unique yet diversified banking needs. Eco World divisional general manager Evon Yap said the Meet @ HLB branch is a thoughtful addition that brings everyday banking closer to their residents—accessible, reliable and seamlessly integrated into the fabric of their community. Kenanga Investment Bank on cloud nine at Bursa Excellence Awards 2024 PETALING JAYA: Kenanga Investment Bank Bhd was recognised for its market-leading achievements at the Bursa Excellence Awards 2024 recently, picking up nine major accolades. The group was named Best Retail Equities Participating Organisation (Champion); Best Structured Warrants Issuer (Equity Warrants - Champion); Best Structured Warrants Issuer (Index Warrants - Champion); Best Remisier (Champion) – Chu Yee Seng @ Chew Yee Seng; Best Overall Derivatives Trading Participant (Champion); Best Trading Participant Commodity Derivatives (Champion); Best Institutional Derivatives Trading Participant (Champion); Best Trading Participant: Equity & Financial Derivatives (Champion) and Special Award Thought Leadership – Eq8 Capital Sdn Bhd. Kenanga’s listed derivatives business, Kenanga Futures Sdn Bhd, retained its leading position, once again winning the champion title for Best Overall Derivatives Trading Participant, a recognition of its consistent performance and market leadership in the derivatives space. The group’s stockbroking division also continued to reinforce its position as a key player in Malaysia’s retail broking industry, clinching the champion title for Best Retail Equities Participating Organisation. Kenanga’s group asset and wealth management arm secured the Special Award Thought Leadership through Eq8 Capital Sdn Bhd, recognised for launching Eq8WAQF, the world’s first waqf-featured exchange traded fund. Introduced under a newly established category, the award highlights meaningful innovations that are reshaping the investment landscape. “These awards reflect the strength of our strategy, the resilience of our people, and our steadfast commitment to delivering value to our stakeholders. As we navigate an increasingly dynamic landscape, we remain focused on driving sustainable growth in Malaysia’s capital markets,” said Kenanga Investment Bank group managing director Datuk Chay Wai Leong. the wealth pool of affluent and mass-affluent individuals in Asia is projected to reach US$4.7 trillion by 2026, up from US$2.7 trillion in 2021. “We are pleased to partner with Maybank in setting up our single family office within the FCSFZ. The bank’s deep expertise, regional network, and understanding of our unique needs gave us the confidence to be part of this pioneering initiative. Their commitment to supporting long-term growth of the zone also makes them a strong partner,” said Chua.

banking partner of clients operating in the JS SEZ. To support this, Maybank has established a dedicated JS-SEZ Desk offering end-to-end banking and value-added services, as well as connecting clients with the relevant authorities,” said Maybank community financial services Group CEO Syed Ahmad Taufik Albar. Family offices have gained significant traction in Malaysia and Singapore, fuelled by the rapid growth of the region’s ultra-high-net-worth population. According to McKinsey & Company,

and family offices to grow their wealth across generations, and signals the group’s commit ment to support the development of the Johor Singapore Special Economic Zone (JS-SEZ), of which the FCSFZ is a key pillar. “The JS-SEZ and the FCSFZ are emerging as a compelling destination for regional wealth solutions; it is cost-effective, well-regulated, and strategically located. As the JS-SEZ develops, we anticipate a rise in cross-border flows, and Maybank is committed to be the strategic

AmBank: RM408m financing for MSR Green Energy project o Topart-financedevelopment oflandmarkbatteryenergy storage system in Lahad Datu

facility with MSRGE marks a significant step in supporting Malaysia’s transition towards a more resilient and sustainable energy future. By backing its advanced energy storage infrastructure, we hope to be able to continue our support to demonstrate our commitment to sustainable financing and renewable energy development.” MSRGE director Ong Kah Hui said: “We are deeply honoured to participate in this project through an open-tender exercise by Sabah Electricity). With the invaluable financing support of AmBank, our large-scale battery energy storage project represents a pivotal step toward realising a shared vision of a greener future. This initiative not only addresses Sabah’s power supply and grid stability requirements but also lays a robust foundation for integrating future renewable energy plants into the region’s infrastructure.”

first energy storage facility in Sabah, with a final installed capacity of 517MWh. It is designed to enhance grid stability, boost reserve margins during peak demand periods, and enable further expansion of power plant in the region. MSRGE, established on Sept 18, 2012, is a pioneer in Malaysia’s renewable energy sector, with a strong track record in large-scale solar photovoltaic projects. The company has commissioned about 39 renewable energy projects, contributing 96MWp through Large Scale Solar Programme initiatives and over 41MWp under the Feed-in Tariff Scheme. Besides the ongoing BESS project in Sabah, the company is overseeing two large-scale solar projects under the Corporate Green Power Programme with total of about 95 MWp, scheduled for completion by the end of this year. AmBank Group business banking managing director Christopher Yap said: “This financing

PETALING JAYA: AmBank Group has approved a financing facility totalling RM408.2 million to MSR Green Energy Sdn Bhd (MSRGE) to part finance its working capital requirements for a landmark 100MW/400MWh battery energy storage system (BESS) project awarded by Sabah Electricity Sdn Bhd. The BESS project, located in Lahad Datu, Sabah, is valued at RM644.6 million and was awarded to MSRGE in September 2024. Upon completion, the facility will be one of the largest battery storage systems in Southeast Asia and the

Hong Leong Bank head of business channels Lee Ee Hui and a representative from EcoWorld at the launch of Meet @ HLB in Eco Majestic, Semenyih. Hong Leong Bank unveils Meet @ HLB branch concept at Eco Majestic in Semenyih

PETALING JAYA: Following the opening of its Iconic branch in Penang, Hong Leong Bank (HLB) has launched its innovative Meet @ HLB branch concept in Eco Majestic, Semenyih, Selangor. The community-centric branch is central to HLB’s bank-wide transformation plan, which includes upgrading existing branches and strategically tailoring service offerings. Designed for the Eco Majestic community, Meet @ HLB provides convenient access to automated teller machines, retail banking and cash deposit machines. The branch’s daily

network to better serve our diverse customer base through upgrades, service enhancements, and the introduction of innovative branch formats like Meet @ HLB. “Our collaboration with EcoWorld has been invaluable in bringing this vision to life. By understanding the unique characteristics of the Eco Majestic community, we have been able to create a banking space that truly resonates with its residents. This underscores our belief in the enduring value of physical presence within communities, transforming branches into vibrant

operations from 12.30pm to 7pm, including weekends, provide residents with convenience and easy integration of banking needs according to their schedules. HLB group managing director and CEO Kevin Lam said,“Meet @ HLB perfectly encapsulates our vision of being a ‘Digital Bank Plus Much More’ – creating a powerful synergy of cutting-edge digital convenience and genuine human connection. This initiative is a vital part of our broader branch transformation strategy, where we are strategically evolving our physical

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