HSBC sees growth in cash management

Singapore

AMID slowing growth in the region, treasurers are more eager to find efficiencies in managing the corporate coffers, a senior HSBC banker told The Business Times. This comes as Singapore remains a popular spot for large companies looking to set up their regional treasury centres, said Wong Kee Joo, HSBC's head of payments and cash management for Asia Pacific. "Singapore has over the past few years established a leading position as the preferred location for global corporates to set up and manage their regional activities, and this momentum has gathered pace," said Mr Wong.

Within HSBC's client base in Singapore, the bank has seen "activity levels" in this area increasing strongly over the past number of years.