Suzhou Industrial Park Administrative Committee (SIPAC), UOB (China), and UOB Kay Hian signed a Memorandum of Understanding (MOU) on Oct 15, at the China-Singapore Investment Forum. Under the MOU, the three parties aim to provide innovative cross-border investment, financing and trade solutions, including green financing to businesses in key focus areas actively promoted by the Suzhou Industrial Park (SIP). These areas include telecommunications technology, biomedicine, high-end manufacturing.
SIPAC, UOB Kay Hian and UOB China agreed on a strategic partnership to boost development in advanced industrial clusters and to deepen Sino-Singapore cooperation.
According to the MOU, UOB Kay Hian will also set up a wholly-owned securities company at the SIP. Upon receiving the required regulatory approvals and licences, the securities company will offer investment banking services, including cross-border financing, and advisory for initial public offerings and mergers and acquisitions, for enterprises based at the SIP and in the Yangzte River Delta area.
See also: UOB to ride Asean recovery in 2022, NIM expansion in 2023: UOB Kay Hian