HSBC CAPTURES ITS CUSTOMERS' NEW MEMORIES
Wednesday, 3rd April 2013
Customers who make purchases with their HSBC Credit Card or Visa Debit Card between 1 February and 30 April 2013 are entitled to stand a chance of winning exciting prizes from HSBC's current "Capture Your New Memories" promotion.
Throughout the promotion period, HSBC is giving away three (3) sets of Grand prizes each month. The three sets of Grand prizes are "Capture Your Adventure"; "Capture Your Chill-outs" which consists of Canon EOS M camera, sofa lounger and 42" LED TV for the month of March; whilst for month of April, HSBC is giving away "Capture Your Family Fun Barbecue" set which consists of Canon EOS M camera, Broil King BBQ Grill set and garden table and chairs set. Additionally, two lucky winners will also be selected each month to win the consolation prizes of a Canon camera each.
Bonita Suresh (R) with Mr Mitchell Brian Burke (L) who won the Canon Ixus Digital Camera
Mr Michael John Hibberson was recently announced as the Grand Winner for February, winning himself the "Capture Your Adventure" set which consists of a Canon EOS M Camera, an air ticket to an ASEAN destination and Samsonite luggage. Meanwhile, Mr Manikandan Palanisamy and Mr Mitchell Brian Burke won a Canon Ixus Digital Camera each. Presenting the prizes to the winners was Bonita Suresh, Branch Manager of HSBC Serusop Branch
Bonita Suresh (R) with Mr Michael John Hibberson (L) who won the "Capture Your Adventure" set.
As part of the "Capture Your New Memories" promotion, HSBC has also launched an exciting competition which runs from 19 March until 30 April 2013. During the competition period, customers and members of the public are invited to take photos with the HSBC Red Frame currently located on the first floor at The Mall, and send their photos to email@example.com together with their name and contact number by 30 April 2013. The Red Frame will be relocated to Times Square Shopping Centre on 1 April and will be available until 30 April 2013. The three best photos taken will win a brand new Canon digital camera each.
For more information on HSBC's campaigns and promotions, please visit www.hsbc.com.bn.
HSBC WELCOMES RENMINBI DIALOGUE
Monday, 29th April 2013
Recently, HSBC welcomed the commencement of the Australia-Hong Kong Renminbi (RMB) Trade and Investment Dialogue.
Tony Cripps, Chief Executive Officer of HSBC in Australia, said: "This is a great opportunity to work with institutions and businesses in Australia and Hong Kong to promote global RMB trade settlement and investment flows."
"This initiative will not only support growing trade links between Australian and Chinese businesses, it demonstrates Australia's support for the ongoing internationalisation of the Chinese currency."
China has led the growth of the global economy over recent years and companies competing for a share of this growth will increasingly seek to use the RMB to settle trade, make investments and fund their business. The RMB is increasingly part of normal day-to-day business for anyone trading with or investing in China.
"Every Australian business with an eye on China should be considering the potential benefits of using the RMB," said Tony Cripps.
"For Australian businesses dealing with China, it can provide pricing or trade benefits as Chinese businesses seek to encourage RMB use to lower their foreign exchange costs and risk. Our research¹ shows 50% of HSBC customers surveyed in China were willing to offer better pricing or terms in return for using RMB to settle trade.
"We also encourage internationally-minded Australian businesses to explore using RMB when transacting with Chinese counterparts because dealing with RMB could create more business opportunities in China," he said.
Anita Fung, Chief Executive Officer of HSBC in Hong Kong, visiting Sydney to participate in the Dialogue, said: "In freeing up the RMB, China is opening the door for more Australian businesses to tap into the success story of the world's most dynamic economy. We are seeing companies large and small build connections that will be of lasting benefit to both countries, economies and people."
Ms Anita Fung, Chief Executive Officer, Hong Kong, HSBC, speaking in the Australia-Hong Kong Renminbi Trade and Investment Dialogue in Sydney.
"We applaud initiatives like this RMB Trade and Investment Dialogue that encourage collaboration to develop new RMB financing and investment products and closer RMB banking and financial links. This is critical groundwork in preparing markets like Australia for the emerging RMB opportunity."
"By 2015 we expect one-third of China's international trade will be denominated in RMB and the RMB to become a top three global trade currency in terms of volume. By 2017 we expect it to be fully convertible, taking China's financial integration with global markets to a new level," she said.
HSBC has been a champion of RMB internationalisation since this historic process began. The Bank is one of the most active participants in China's interbank foreign exchange market. In 2012, HSBC was among the first banks appointed as market makers for RMB-yen direct trading and in 2013 for RMB-AUD direct trading.
"HSBC Brunei offers a comprehensive range of RMB solutions to help our Corporate customers manage their working capital effectively, in mainland China, Hong Kong or the rest of the world," shared Rosdi Amin Yaakub, Deputy Chief Executive Officer, HSBC Brunei.
Rosdi Amin Yaakub, Deputy Chief Executive Officer and Head of Corporate Banking, at 'Unlocking China's Potential' dialogue in 2012 which was co-hosted by HSBC Brunei and Asia Inc Forum.
"With our extensive global coverage, HSBC plays a very important role to provide our expertise in supporting both existing business owners as well as those who are currently thinking about doing business with China and Australia," he further added.
HSBC has RMB trade capabilities in over 50 markets, was the first international bank to settle RMB trade in six continents, led the first ever offshore RMB bond and IPO and was the number one underwriter of dim sum bonds in 2012 - a position that it retains in 2013².
1 Source: HSBC survey of 692 Mainland China corporate customers, August 2012
2 Source: Bloomberg
GLOBAL FUND MANAGERS STILL POSITIVE ON EQUITIES IN 2Q 2013
Monday, 29th April 2013
***Asia-Pacific ex Japan equities favoured by half of fund managers***
***Three in four fund managers hold overweight views on Asian local currency bonds***
***Bond funds record strong inflows of USD56 billion in 4Q12***
In the latest HSBC's Fund Manager Survey, it was reported that fifty seven per cent of global fund managers (vs 75% in 1Q13) covered in HSBC's latest Fund Managers' survey continue to favour equities in the second quarter of 2013 with no one holding underweight views towards this asset class.
A tenth of respondents (14%) turned overweight towards bonds and cash in 2Q13 from none in the previous quarter (0% for both in 1Q13). Over two in five fund managers (43%) hold an underweight view towards bonds and cash compared to 38% and 63% respectively in 1Q13.
Vineet Vohra, HSBC's Regional Head of Wealth Development, Asia Pacific, said: "Global fund managers generally remain optimistic about the prospects of equities. Emerging markets equities including Asia equities continue to be attractive as a result of better fundamentals. However, it is worth noting that some managers have turned cautious due to renewed concerns on the Eurozone debt crisis."
Emerging markets equities are back in the spotlight in 2Q13 as over half of fund managers (57%) hold positive views, compared to only 29% in the previous quarter. Preference for North America equities dropped from 75% to 57% while Asia Pacific ex Japan equities are favoured by 50% of fund managers, up from 43%. No fund manager is underweight on Greater China, Emerging markets and Asia equities, while 14% are underweight on North America equities (vs 25% in 1Q13).
In terms of bonds, Asian local currency bonds (75%) stand out given the region's stronger fundamentals and potential currency appreciation. With the USD under pressure from the Fed's continued support for quantitative easing, four in five fund managers are underweight US dollar bonds and none of them holds an overweight view towards this asset class.
Asset class allocation strategy
4Q12 global fund flows
Funds under management (FUM) across 10 of the world's leading fund management houses¹ polled reached almost USD4 trillion² at the end of 4Q 2012, up by 3.2% or US$124 billion, from the previous quarter.
Bond funds were the major contributors to the FUM growth, representing 40% or around USD50 billion of the total increase. Bond funds also recorded the second largest net inflow since 2008 totalling USD55.9 billion, of which Asian bonds grew 11%. Equity funds continued to record a net outflow of USD13.4 billion in 4Q 2012, the tenth consecutive quarter, as investors were concerned about uncertainties from the European debt crisis and the US fiscal talks.
Net fund flows³ (as a percentage of FUM):
Market performance 4Q 2012 vs 3Q12
All equity and bond markets except North America equities and global bonds recorded positive returns in 4Q2012. Greater China equities were the best performer with a 12.9% growth, followed by Europe including UK equities (+7.0%), and Asia Pacific ex Japan equities (+6.0%). On fixed income, Europe including UK bonds recorded 4.6% return and high yield/emerging markets bonds went up 3.9%.
Vineet Vohra added: "Greater China equity funds suffered a net outflow of over 17% as investors likely took profit from the strong market rally in 4Q12. Except for this, emerging markets equities are generally in good shape and continue to attract inflows with Asia-Pacific ex Japan equity funds having net inflows for the first time since 3Q2011 driven by its relatively resilient economies. The strong flows to bond funds reflect that investors are still seeking yield amidst the low interest rate environment. As no asset class will outperform all the time, investors are advised to avoid over exposure to any particular asset class and adopt the principles of asset allocation and diversification in their financial planning."
HSBC Brunei has a wide range of investment product to cater to its customers needs. Some of the available funds are HGIF Asia Ex Japan Equity, HGIF Asia Ex Japan Smaller Companies and HGIF Asia Ex Japan High Dividend. For a personal financial review, please visit any of HSBC branch and speak with one of HSBC's accredited financial professionals. The financial professionals are also available to assist customers with tailor made financial plan to help achieve their aspiration for wealth growth and financial security.
HSBC HOSTED FOREIGN EXCHANGE WORKSHOPS
Monday, 15th April 2013
Global Markets of HSBC Brunei recently conducted two sessions of Foreign Exchange workshops for their Corporate Banking customers. More than 100 customers attended the workshops which were held at the Orchid Garden Hotel in Bandar Seri Begawan and Plaza Sutera Biru in Kuala Belait. Also present were Rosdi Amin Yaakub, HSBC Brunei's Deputy Chief Executive Officer and Head of Corporate Banking as well as a number of the bank's business relationship managers.
Salyahrinah Yahya, Treasurer of HSBC Brunei said, "These workshops represent an exciting platform which enable us to share currency updates and forecasts with our customers. It also serves as a very effective channel to foster stronger client relationships".
Salyahrinah Yahya, Treasurer of HSBC Brunei (front, standing with mic) gave an opening remark to customers who attended the workshop at BSB
HSBC holds their foreign exchange workshops annually to provide an insight to the latest developments in the currency markets. "This year, the market is hungry to believe that the world is normalising. Investors are searching desperately for signs that the worldâ's economy is finally returning to growth", shared Syazwani Zaini, a sales dealer from HSBC Global Markets who presented at the workshop.
HSBC sales dealer Syazwani Zaini (left, standing), senior FX trader On Swee Long (2nd left, standing), Treasurer Salyahrinah Yahya (2nd right, standing) with some customers who attended the workshop at KB
The workshops covered an FX market outlook for six of the world's major currencies alongside key market trends for 2013. Each presentation was followed by a simulation game designed with the objective of assisting customers to increase their understanding of the foreign exchange market. The game made use of various factors which could influence foreign exchange rate movements to encourage customers to decide whether and when they should enter the FX market. By responding to different market headlines and news releases, the participants were challenged in the game to become the most profitable team through planning and strategy.
The workshops were well received by all who attended.
Global Markets HSBC Brunei is responsible for the bank's treasury business which includes dealings in foreign exchange and interest rates. The team provides foreign exchange solutions for payments and risk management through a range of FX products. They also source optimal borrowing and lending rates for clients, and make use of an array of financial instruments to manage the bank's cash flow and balance sheet.
For more information about HSBC Brunei and its services, please visit www.hsbc.com.bn
HSBC senior FX trader On Swee Long (back, standing) with some customers who attended the workshop at BSB
HSBC sales dealer Syazwani Zaini (left, standing), senior FX trader On Swee Long (centre, standing), Treasurer Salyahrinah Yahya (right, standing) with some customers who attended the workshop at KB
HSBC TO BE AMONG FIRST MARKET MAKERS FOR DIRECT TRADING OF RMB AND AUD
Friday, 12th April 2013
HSBC China has received approval from China's central bank to be one of first market makers for direct trading of the Renminbi (RMB) and Australian dollar (AUD) in Chinaâs interbank foreign exchange market.
HSBC will participate in the market upon the launch of RMB-AUD currency conversion deal on 10 April 2013. Australia is the third country, after the US and Japan, to secure an arrangement with China under which its currency is traded via direct market making.
Direct trading of the RMB and AUD onshore will supplement the cross-pair trading that has historically supported transactions between these two currencies.
Helen Wong, CEO of HSBC China, said: "Direct RMB-AUD trading is a vital move towards building a representative and liquid onshore benchmark for major non-US dollar crosses. HSBC is honoured to be appointed as a market maker for the RMB-AUD direct trading."
Tony Cripps, CEO of HSBC Australia, said: "This is a symbolic and significant step forward in supporting the growing demand for RMB for payments, settlement, investment and financing globally."
"China is Australia's largest trading partner and Australia is China's seventh largest trading partner. Greater RMB turnover and liquidity will ultimately make exchange rate transactions for businesses and investors from both countries easier, supporting increasing trade and investment flows between our two markets."
HSBC has been a champion of RMB internationalisation since this historic process began. The Bank is one of the most active participants in China's interbank foreign exchange market and, in 2012, was among the first banks appointed as market makers for RMB-yen direct trading.
HSBC has RMB trade capabilities in over 50 markets including Brunei Darussalam and was the first international bank to settle RMB trade in six continents, led the first ever offshore RMB bond and IPO and was the number one underwriter of dim sum bonds in 2012 - a position that it retains in 2013.¹
Back in 2011, HSBC became the first bank in Brunei to cater Renminbi (RMB) deposits and remittances services to Corporate Banking customers following China's contribution in global trade and the gradual internationalisation of RMB. HSBC Brunei continues to offer these RMB services to ensure ease of trade financing between Brunei Darussalam and the Peopleâs Republic of China.
¹ Source: Bloomberg
CHARITY MOVIE NIGHT RAISES $14K FOR SMARTER, PUSAT EHSAN
Friday, 12th April 2013
WITH a special appearance by Brunei-born international mega star Wu Chun, the Saving General Yang Charity Movie Night managed to raise a total of $14,000 at the Times Cineplex yesterday for two charitable organisations, SMARTER and Pusat Ehsan, whereby each received $7,000.
The guest of honour who handed over the contributions was Datin Paduka Hjh Adina binti Othman, the Deputy Minister of Culture, Youth and Sports.
Wu Chun with Datin Paduka Hjh Adina binti Othman, the Deputy Minister of Culture, Youth and Sports; Liza Kamarudin of HSBC and Pg Dato Shariffuddin of GHK Motors presenting the $7,000 mock cheque to Malai Hj Abdullah of SMARTER
Wu Chun with Datin Paduka Hjh Adina, Nicky Wong of QQeStore, Maswadi Hj Mohsin of RB presenting the $7,000 mock cheque to Dato Paduka Dr Omar Khalid of Pusat Ehsan
Wu Chun and Datin Paduka Hjh Adina in a group photo with the representatives of the companies involved in the Charity Movie Night. - PHOTOS: JAMES KON
Present to receive the contribution on behalf of SMARTER was Malai Hj Abdullah bin Malai Hj Othman, the President of SMARTER, while Dato Paduka Dr Omar Khalid received the contribution on behalf of Pusat Ehsan.
The Charity Movie Night also attracted more than 50 Wu Chun fans who had flown in from overseas just to see the movie and catch a glimpse of Wu Chun.
Encouraging other youths to be a success in the creative industry, Datin Paduka Hjh Adina in her remark mentioned, "We are very proud of Wu Chun, a Bruneian who went to school here and was brought up the Bruneian way. Therefore if Wu Chun can do it, so can other Bruneians."
Wu Chun, who has travelled to 12 different cities in the past two weeks to promote Saving General Yang, did not look tired at all after greeting the large number of fans that turned up. Prior to the presentation of the mock cheques, he signed an autograph on the main poster.
During an interview session, Wu Chun said, "I would like to convey my appreciation to the companies that have supported this Charity Movie Night, with all the proceeds going to charity."
Wu Chun revealed, "After landing on Tuesday afternoon, I stayed in Times Cineplex to work with the organisers until midnight to make sure that everything goes smoothly."
"The movie is screening in Saudi Arabia, India, and Australia as well as many parts of the world, and has received rave reviews. It's my biggest movie and the production cost was more than $20 million," he said. "I hope that Bruneians will come out to support this movie, as a lot of effort has been put into making the movie. I also felt a great sense of achievement not just because I can share this great movie with my fellow Bruneians, but help to organise a charity as well. My motivation came from my fans and family, especially my late mother who always encouraged me to be involved in charity events."
The Saving General Yang Charity Movie Night was supported by QQeStore, HSBC, Royal Brunei Airlines (RB) and GHK Motors.
Article and photos by Borneo Bulletin
HSBC AND BOCOM FURTHER ENHANCE COOPERATION
Monday, 8th April 2013
*** MOU on cross-border RMB business cooperation signed ***
*** HSBC international banking expert seconded to BoCom ***
The Hongkong and Shanghai Banking Corporation Limited ("HSBC") and Bank of Communications Co., Ltd. ("BoCom") today announce the signing of a memorandum of understanding ("MOU") on cross-border RMB business cooperation, under which both banks will leverage their international and domestic strengths to further strengthen and deepen their cooperation in cross-border RMB business.
Under the MOU, HSBC and BoCom will fully collaborate on cross-border RMB business, including trade finance, remittance, lending, offshore investment and finance, asset custody and fund management, retail banking, cash management and capital markets business. Both banks will foster greater information exchange and work together on initiatives that draw on each other's strengths to generate new opportunities.
BoCom has also appointed Mr Ng Siu On, a seasoned banker with international banking expertise from HSBC, as an HSBC-BoCom strategic cooperation consultant, joining BoCom's senior management team. His appointment will enhance the two partners' collaboration in international business.
Mr Ng was most recently Head of Corporates for HSBC's commercial banking business in Hong Kong. He was also a consultant for HSBC's Asia-Pacific CEO on Greater China business. Mr Ng has 35 years of experience in retail banking, corporate banking, international trade and branch management across markets such as Hong Kong, mainland China and Canada.
Stuart Gulliver, Group Chief Executive, HSBC Holdings plc, said: "This announcement underscores the considerable benefit of our ongoing partnership with BoCom. The combination of HSBC's global network and BoCom's strong onshore mainland presence allows us to offer an unrivalled cross-border RMB service to clients, contributing to the internationalisation of the Chinese currency."
Niu Ximing, President of BoCom, said: "We welcome Mr Ng to our senior management team. Since 2009, we have been working closely with HSBC in various areas in cross border RMB business. Going forward, both our banks will fully leverage each other's strengths in network, customer and market knowledge to further broaden and deepen our strategic partnership."
In addition to these two new initiatives, HSBC and BoCom continue to collaborate closely in other areas including supporting mainland corporates, credit card, international trade financing, custody and clearing and fund distribution.
For more information on HSBC's campaigns and promotions, please visit www.hsbc.com.bn.
JUNIOR ACHIEVEMENT PROGRAMME SUCCESSFULLY COMPLETED
Monday, 1st April 2013
Recently, the pilot session of the Junior Achievement (JA) More than Money programme concluded with a certificate presentation ceremony. The JA Pilot project is a collaborative initiative between the Brunei Economic Development Board (BEDB) and JA worldwide, with the support of the Ministry of Education.
Junior Achievement is the world's largest organisation dedicated to educate students about workforce readiness, entrepreneurship and financial literacy through experiential, hands-on programs.
"As part of HSBC's initiative to promote financial literacy, HSBC Brunei is proud to support the JA More than Money programme," said Liza Kamarudin, Manager Corporate Sustainability of HSBC Brunei. "24 students from 5 different schools participated and benefited from this programme and we are looking forward to support the Junior Achievement programme by reaching out to more students in the future."
The five schools that participated were Sekolah Rendah Anggerek Desa, Sekolah Rendah Pulaie, Sekolah Rendah Amar Pahlawan, Sekolah Rendah Delima Satu and Sekolah Rendah Mabohai. The participants and volunteers from HSBC met at Sekolah Rendah Anggerek Desa on Friday over a period of 6 weeks from January until March 2013.
Officiating the ceremony was Yang Mulia Awang Haji Azis bin Haji Nayan, Acting Senior Special Duties Officer of Primary Education Section, Ministry of Education who presented the certificates to the students. The event was also attended by their parents, volunteers from HSBC well as officers from MOE and BEDB.
More than 250,000 students in more than 40 countries have learned about earning, spending, sharing and saving money. To date, almost 4,300 HSBC employees have volunteered to lead JA More than Money around the world. HSBC Holdings plc has given a total of $7.3 million (USD) over five years to teach children about earning, spending, sharing and saving money through JA More than Money.
Yang Mulia Awang Haji Azis bin Haji Nayan presenting certificates to the partipants