ID :
361862
Tue, 03/31/2015 - 13:24
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ASEAN To Experience Acceleration In Capex Growth Post AEC: Maybank

SINGAPORE, March 31 (Bernama) -- ASEAN is expected to experience an acceleration in capital expenditure with the formation of the ASEAN Economic Community (AEC) and corporate organisations should grab these opportunities available to them. Maybank Group President and Chief Executive Officer Abdul Farid Alias said ASEAN was a huge marketplace and home to a very large supply of rising middle-class consumers with discretionary spending. "The region is the world's seventh largest economy and has been experiencing strong economic growth rates. "To integrate into this regional powerhouse, it takes disruptive technology, effective branding and strategic advertising. "The rising empowerment of women and the demographic implications of millennial are also crucial to capitalise on ASEAN," he said at the Invest Asean Singapore 2015 conference organised by Maybank here Tuesday. Meanwhile, Feisal Zahir, Maybank Head of Global Banking said the intra-ASEAN foreign direct investment (FDIs) has been steadily increasing over the past five years, from about 10 per cent of total FDIs into ASEAN in 2009 to an estimated 22 per cent in 2014. "FDIs into ASEAN also increased from US$91 billion in 2011 to an estimated US$123 billion in 2014, which further indicates a potential for continuous growth. "Maybank is well positioned to capture the increase in business in the region and those linking to Asia. "We have a deep understanding of the business landscape in ASEAN, as well as, the products to provide seamless solutions for corporate trading, funding and investment needs," he said. Maybank Kim Eng Group Chief Executive Officer John Chong said the economic integration could bring an increase in corporate exercise. "We expect to see more merger & acquisition activities as businesses in the region consolidate. Fund raising exercise will also rise, driven by businesses' regional expansion and new infrastructures demand," he said, adding that Maybank Kim Eng was proud to be able to provide investors with unrivalled access to this region. Maybank Kim Eng, the investment banking arm of Maybank maintained its position as ASEAN’s largest equities franchise with the highest trade value in 2014, for the second successive year. -- BERNAMA

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