HSBC Bank Malaysia Bhd (HSBC Malaysia) has reiterated that it is focused on supporting the Malaysian Government’s ambitious plans for the country’s recovery and growth.
The bank’s response came following news reports on Wednesday (Feb 9) that the National Union of Bank Employees (NUBE) has urged the Penang state government to review the Memorandum of Understanding (MoU) that signed between the state-owned InvestPenang and HSBC Bank Malaysia Bhd.
“Malaysia is a priority growth market for HSBC Group globally and we are committed to continuing to serve the Malaysian economy as we have done for more than 130 years.
“Attracting high quality investments is crucial to support Malaysia’s path to recovery, fulfilling its ambition of creating quality jobs while facilitating sustainable development,” HSBC Malaysia said in a statement.
“As a key connector in the business community with an unparalleled international network, HSBC is linking up Malaysia with the world.
“Through our extensive collaboration with the Federal and State government investment promotion agencies and chambers of commerce in Malaysia, HSBC is focused on supporting the government’s ambitious plans for the country’s recovery and growth.”
According to the bank, digital enablement is fundamental across all sectors including banking to accelerate the revival of the country’s economy.
“To achieve this, we are transforming our bank to ensure we serve our customers in the way that best reflects their evolving needs.
“In line with this transformation, we have made an investment of US$40 million from 2021 to 2023 to equip our branches with enhanced digital capabilities and new technology,” it said.
“This is in addition to the US$18 million that was invested from 2018 to 2020 and will further enable us to develop innovative branch formats and champion new ways of serving our customers while supporting their financial journeys.”
HSBC Malaysia further pointed out that they are giving their employees the option to train, upskill and obtain qualifications to ensure that they have the skills needed for the future jobs.
“Additionally, our US$250 mil investment in our new head office at Tun Razak Exchange (TRX) signifies our enhanced focus on flexibility enabled through a hybrid working model while providing a fit for purpose modern working environment, integrating the highest standards of environmental sustainability.”
As such, the bank said that they will continue to collaborate with all trade unions, including NUBE, to understand if there are further avenues in which to support their employees.
“Given some of the issues raised or disputed by NUBE are currently being reviewed in the Malaysian courts, we reserve our comments on the same except to reiterate that HSBC continues to be bound by all applicable laws and regulations in all the countries in which we operate.” – Feb 11, 2022
