Supporting Large Corporate Clients in Their Regional Expansion
Our Corporate Banking teams support large Asian corporates as well as North American and European multinational corporates (MNCs), including Fortune 500 companies, operating in Asia.
Through UOB’s established and integrated network, our global and local teams of relationship managers offer our clients seamless connectivity and specialised expertise as they expand across Asia. We also provide a suite of integrated solutions to meet their financial needs, including support for cross-border merger and acquisition opportunities.
In 2018, we supported Raffles Medical Group in the set-up of its first international tertiary hospital in Chongqing, China. We also provided a comprehensive merchant collection solution to help the client increase its efficiency in cashflow management.
During the year, we also extended a bilateral term loan to one of ST Telemedia’s investee companies, U Mobile Sdn Bhd, to support the expansion of its infrastructure network in Malaysia. The loan enabled the client to improve its competitiveness and quality of services to its customers as it embarks on its journey to be a leading Malaysian telecommunications company.
Our product teams worked with Razer Inc (Razer), a leading provider of gaming hardware, software and services, to support the upcoming launch of Razer Pay in Singapore by enabling e-wallet top-ups and processing payments for its global network of merchants. Our digital FX solution also enables Razer to access wholesale FX rates when making payments to its merchants. Upon launch, Razer Pay users in Singapore will also enjoy competitive FX rates when making in-app purchases in a foreign currency. Our multi-product offering to Razer also includes workplace banking solutions to help the company improve its operational productivity.
“…UOB brings best-in-class payment solutions to help make the experience faster and more seamless for all our customers. We are confident that this partnership will accelerate the use of cashless payments in Singapore and across the region.”
Mr Preecha Praipattarakul
Senior Vice President, Razer Pay
Grab is another client with whom we formed a strategic alliance. The company’s services have grown to become one of the most frequently used online-to-offline mobile platforms in Southeast Asia, providing consumers everyday services such as transport, food and package delivery, mobile payments and financial services. Our alliance with Grab will help fuel its ambition to build ASEAN’s first everyday “super app” and to accelerate the use of digital services among the region’s consumers. As a preferred banking and strategic credit card partner, we help Grab offer privileges to its customers using UOB cards for payment. We will offer cash management services to provide Grab’s consumers the convenience of topping up their GrabPay wallet directly from their bank account. As part of our alliance, we will also explore greater support to Grab in areas such as fleet financing, regional and centralised liquidity management solutions and workplace banking services.
“We are thrilled to welcome UOB as our strategic partner in Singapore and across the region… By combining our strengths, we will offer consumers more convenient payment services regionally and help more people move from cash to cashless.”
Mr Anthony Tan
Co-founder and CEO, Grab
We entered into a strategic alliance with Grab to accelerate the use of digital services among ASEAN’s growing base of digital consumers.
Providing Structured Trade and Commodity Financing Solutions for Global Trade and Business
Our Structured Trade and Commodity Finance team complements the commodity value chain through trade finance structures ranging from pre-export, shipment sales, inventory/borrowing base to receivables financing. We provide these solutions to clients who produce, trade and purchase commodities such as energy, metals and soft commodities.
Despite headwinds in global commodity markets in 2018, our performance for the year remained stable, reflecting the resilience and the vigilance of the team in driving growth and in managing our commodity risk exposure. Improvements in key sectors such as oil and gas and the resilience of other commodities enabled us to continue driving overall revenue growth as we stood steadfast in support of our clients.
Our coverage teams in China, Hong Kong and Singapore also continued to make progress, collaborating and tapping the regional connectivity to foster deeper client relationships, and achieving stronger momentum in sales. In growing our business, we worked with our key product partners, including Transaction Banking and Investment Banking, to offer our clients domestic and cross-border cash management solutions, as well as advisory on mergers and acquisitions.