UOB and Santander UK to facilitate greater two-way business flows between Southeast Asia and the UK

UOB and Santander UK to facilitate greater two-way business flows between Southeast Asia and the UK

By: 
Samantha Chiew
10/05/18, 02:32 pm

SINGAPORE (May 10): United Overseas Bank (UOB) and Santander UK will be collaborating with each other to facilitate greater cross-border business flows between Southeast Asia and the UK.

The partnership brings together the complementary strengths such as local market knowledge and regional presence of both banks in helping companies from their respective markets expand overseas.

These efforts include helping Singapore companies with their expansion plans in the UK, one of their top business and investment destinations.

Together they aim to help 200 small- and medium-sized enterprises (SMEs) expand from the UK into the Association of Southeast Asian Nations (ASEAN) region and vice versa over the next two years.

The SMEs will also be able to access each bank’s financial products and services.

In addition, they will benefit from the two banks’ respective industry insights and business connections, which are relevant and essential for successful market entry.

Sam Cheong, Head of Group Foreign Direct Investment (FDI) Advisory of UOB, says, “Together with Santander UK, we will focus on engaging businesses – from manufacturers to wholesalers and retailers – to help them seize the opportunities in the region.”

John Carroll, Head of Products and International Business of Santander UK, says, “Through our strategic alliance with UOB, we will engage more SMEs in the UK, helping them to understand the diverse economies and cultures of the region. This will help them to take advantage of the growing number of opportunities that exist.”

Jokowi declared winner a month after Indonesia presidential vote

(May 21): Indonesian President Joko Widodo won last month’s bitterly contested election by a double-digit margin, official results showed Tuesday, putting the former furniture exporter in charge of the world’s largest Muslim-majority nation for another five years. Widodo, known as Jokowi, won 55.5% of the national vote, compared to his challenger Prabowo Subianto’s 44.5%, the General Elections Commission said in Jakarta early on Tuesday. Jokowi’s margin of victory at 11% was almost double the lead he secured in 2014 against the same opponent, commission’s data showed. The tally al....
Read More >>

Sembcorp Industries' near-term outlook hinges on sustained India uptrend, say analysts

SINGAPORE (May 21): CGS-CIMB Research and DBS Vickers Securities are maintaining their “add” and “buy” calls on Sembcorp Industries (SCI) with target prices of $3.41 and $3.90, respectively. This comes after the group last week posted 21% higher 1Q earnings of $77 million on higher contributions from its energy segment, which was mainly driven by improved performance from India and the recognition of peak winter availability payments for UK Power Reserve. In a May 15 report, CGS-CIMB analyst Lim Siew Khee says she considers SCI cheap at $2.54, which is 0.6 times FY19 price-to-boo....
Read More >>

China warns about 'unwavering resolve' to fight 'US bullying'

BRUSSELS (May 21): China could retaliate against the US after President Donald Trump blacklisted Huawei Technologies Co., the Chinese ambassador to the European Union said. Trump upped the ante in his trade dispute with China last week, announcing moves to curb Huawei’s business that are starting to have ramifications for other companies around the world. "This is wrong behavior, so there will be a necessary response," Zhang Ming, China’s envoy to the EU, said in an interview in Brussels on Monday. "Chinese companies’ legitimate rights and interests are being undermined, so the Chi....
Read More >>