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Global Times: Ningbo-Zhoushan Port’s global connectivity seen from a small button controlling bridge crane

BEIJING, May 26, 2025 /PRNewswire/ — When Zhu Shijie started working at the Chuanshan port area of Ningbo-Zhoushan Port in East China’s Zhejiang Province in 1999 as a bridge crane operator loading and unloading containers onto or from ships, the port’s annual handling of 500,000 containers was celebrated with a ceremony. In 2025, the veteran crane operator, said he hopes he could be the one to press the button that picks up this year’s 38 millionth container milestone for Ningbo Zhoushan Port Group. 

Reaching that figure this year will be no small feat given the profound turbulence in global trade, as it means a growth of 4 million containers from the last year’s 34 million. In fact, in his 26 years working at the port, Zhu Shijie has had a front-row seat to witness the meteoric rise of Ningbo-Zhoushan Port, now the world’s largest port in terms of cargo throughput. 

In 2024, it handled a total of more than 1.37 billion tons of cargo, an increase of 4 percent year-on-year, setting a record high and ranking first in the world for the 16th consecutive year.

Indeed, he has witnessed several key moments of the port’s development. In 2006, when President Xi Jinping, then Party chief of Zhejiang Province, came to the port to personally press the button to pick up the 7 millionth container, Zhu Shijie was the one who operated the bridge crane.

In March 2020, when President Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, visited the Chuanshan port area of the Ningbo-Zhoushan Port, whose throughput has recovered to normal levels due to the timely measures it adopted to resume production amid the COVID-19 pandemic, Zhu Shijie was also onsite.

Regarding the port as a hard-core power, Xi said Ningbo-Zhoushan Port plays an important role in national strategies such as the building of the Belt and Road Initiative (BRI), the development of the Yangtze River Economic Belt and the integration of the Yangtze River Delta, according to the Xinhua News Agency. 

Given its strategic importance and sheer size, the Ningbo-Zhoushan Port offers a vantage point into gauging the state of not only China’s foreign trade sector but also global trade as a whole. As global trade encountered tremendous turbulence due to the US’ unilateral tariffs in recent months, the Global Times recently visited the port to find out the impacts of the tariffs on China’s trade with countries and regions around the world.

In interviews with the Global Times, employees like Zhu Shijie and business owners in the logistics and manufacturing sectors said that despite the negative impact on certain US-bound shipments, overall operations remained stable, with better-than-expected performances. From US clients rushing to ship orders following mutual tariff reductions to the surge in shipments to the EU, ASEAN, and other parts of the world, the scenes they described painted a vivid picture of China’s resilient and robust foreign trade sector despite a rising tide of unilateralism and protectionism. 

Hardcore strength – surging above the tide

Entering the Ningbo-Zhoushan Port, a bustling scene unfolded – bridge cranes are busy uploading cargoes onto the ships, with both unmanned and manned container trucks rushing to pick up or drop off containers in the port area. 

“This ship that is currently docked at the terminal comes from the East Coast of the US,” He Xiaohui, assistant manager of the Operation Department of Meishan port area of Ningbo-Zhoushan Port, told the Global Times, pointing to the ship on a real-time monitoring screen of all vessels at the port.

“In April, we did face the challenge of fluctuations in cargo volume on the US shipping lines. However, we still achieved a cargo throughput of 998,000 containers for the entire month, marking a 5.6 percent growth year-on-year. This week, the weekly throughput has begun to steadily rebound,” said He.

Meishan port area is the terminal with the most US lines in Ningbo-Zhoushan Port, and the volume of US line containers in Meishan accounts for about 40 percent of the port’s total.  

On April 2, the US government announced what it claims to be “reciprocal tariffs” against its trading partners, including China. After China took firm countermeasures to safeguard its rights and interests, the US further increased tariffs to levels that even its officials said “unsustainable.” However, on May 12, after a high-level meeting in Geneva, the two countries issued a joint statement announcing the removal of significant tariffs on each other and suspending some duties for 90 days.

Highlighting the anxiety among US businesses caused by the US tariffs, after the China-US joint statement, many US clients have rushed to arrange for the shipping of their products from the Ningbo-Zhoushan Port. 

At the 36,000-square-meter warehouse of Ningbo Blue Dragon Logistics in the Beilun port area of the Ningbo-Zhoushan Port, Global Times reporters observed dozens of forklifts moving at high speed, as if in an F1 race, loading goods such as footwear, toys, electronics, and daily necessities onto containers for export. 

“From May 12 to 18, previously suspended US-bound export orders are now being expedited for shipment. The volume of goods we received increased by approximately 20 percent week-on-week, and our warehouse temporarily reached full capacity,” Wang Min, business manager of Ningbo Blue Dragon Logistics Co, told the Global Times. “Chinese exporters and US importers are rushing to make up for the delay of Chinese products due to high US tariffs.”

Wang said that their five-story shelves are packed every day, requiring workers to clear space daily for new export cargo coming in.

Surprisingly, Wang found that exports maintained growth in April despite a 30 percent drop in US-bound business volume. 

“Initially, we thought the export decline to the US would impact our April performance, as US exports account for about 45 percent of our total,” Wang said, adding that steady growth in other shipping routes has offset the shortfall.  

Wang was among thousands of Ningbo’s foreign trade-related enterprises that have made multifaceted efforts to drive exports forward against headwinds. 

As a result, Ningbo witnessed 11.5 percent year-on-year growth in its foreign trade from January to April, totaling 872.42 billion yuan ($121.1 billion). Among which, exports were up 17.9 percent year-on-year, according to statistics from the Ningbo customs. 

While some US importers eagerly await Chinese products across the Pacific, Zhu Guoqin, owner of Ningbo AT Import & Export Co Ltd., a company specializing in luggage exports, is considering redirecting about 80 containers of luggage worth $15 million, originally booked by a US customer, to other markets, as the customer has not yet contacted her for re-shipment.

She revealed that her company shared the 20 percent US tariffs on Chinese goods in March with US customers. However, after an additional 34 percent tariff in April, American clients halted orders. These tariffs were not included in the recent bilateral tariff reductions.

“This batch of luggage is designed for summer vacations, meant to be shipped to the US in March and on the shelf in April. However, the 80 containers remain in our warehouse. US exports accounted for about 25 percent of our $50 million total exports in 2024,” Zhu Guoqin told Global Times.

However, the 14 production lines of Ningbo AT Import & Export Co were still running in full swing when the Global Times reporters visited its factory recently, as the company’s largest market is Europe and orders are fully booked until July. 

“Frankly, the US tariffs didn’t significantly impact our production. We were just less busy,” Chen Guihua, a staff member at Ningbo AT Import & Export Co., told the Global Times. 

Chen was among many export-related people who expressed confidence in China’s foreign trade, even when facing headwinds of uncertainty. Such confidence also came from the growth of Ningbo-Zhoushan Port.

The unmanned trucks, running between containers “hills” inside the Meishan port area, are a manifestation of surging trade, as they allow 24-hour operation, Hu Jinqu, head of the publicity department of Ningbo Zhoushan Port Group, told the Global Times.

“Bridge cranes can be controlled from an office kilometers away from the port, with the operation difficulty largely reduced. The task that is often described as ‘threading the needle in the sky’ is now simplified as ‘catching dolls in a claw machine’,” said Hu.

This represents part of the extensive infrastructure upgrading of the Ningbo-Zhoushan Port, which now has more than 630 berths across 20 port areas. Meanwhile, its sea-rail transport expands the service area to neighboring provinces.

The hard-core power of the Ningbo-Zhoushan Port also stems from its global connectivity, with 306 shipping routes connecting with more than 600 ports in over 200 countries and regions, according to the latest official data.

But more importantly, the people. The entire Chinese foreign trade sector has been striving to enhance its resilience.

Ningbo’s enterprises vividly embody the “sweet potato economy,” a theory that was scientifically explained by Xi as the Party chief of Zhejiang more than 20 years ago, symbolizing Zhejiang’s growth strategy, with local investments spreading globally like sweet potato vines, enhancing international engagement and strengthening the local economy.

Well-Prepared for Uncertainties

Zhu Guoqin, for example, said that she sensed the geopolitical uncertainties ahead last year and quickly adjusted her company’s target markets. 

In July 2024, Ningbo AT Import & Export Co. registered its own brands and opened flagship stores on Chinese e-commerce platforms, with domestic sales steadily increasing since the beginning of 2025. Additionally, in late 2024, the company applied to participate in South American trade fairs to explore new markets.

“These measures will likely offset the shortfall in US-bound orders in the second half of 2025,” Zhu Guoqin said. “We’ve weathered ‘tariff storms.’ Every challenge has a solution.” 

Many Chinese export companies had prepared for – could be as early as 2018 – the uncertainty aroused by the US tariffs.

Wang from the logistics company noted that “since the US-initiated trade war began in 2018, Chinese exporters have increasingly emphasized export diversification.”

The layout of diversifying trade partners has proven effective in Ningbo’s latest trade statistics. 

“In the first four months of 2025, the EU was Ningbo’s largest trade partner. It was the US in 2024,” Gao Xuefeng, deputy section chief of Logistics Supervision Section 3 in Daxie Customs affiliated with the Ningbo Customs, told the Global Times.

From January to April, trade between Ningbo and the US decreased by 0.4 percent year-on-year, despite a 2.8 percent growth in export. In contrast, Ningbo’s trade with the EU surged 18.6 percent year-on-year, whilst trade with ASEAN grew 22.7 percent. 

It is worth noting that for the trade volume under the multilateral mechanism, Ningbo witnessed a trade growth of 15.9 percent with BRI partner countries, accounting for 51.6 percent of total.

In the first four months, China’s total foreign trade with BRI partner countries surged 3.9 percent, accounting for 51.3 percent of its total. China’s foreign trade with ASEAN, its largest trade partner, grew 9.2 percent year-on-year, accounting for 16.8 percent of the country’s total, official data showed.

The continuous growth and expanding friend circles of China’s foreign trade can be seen from the evolution of the height of the bridge crane at ports. 

From a 32-meter-high bridge crane in 1999, working on the crane, to a 52-meter-high bridge crane, working remotely from an office, Zhu Shijie’s workplace transformation exemplifies this development.

“The change in height means a sixfold increase in cargo handling capacity. The 52-meter-high bridge crane, with 5G and other high-tech features, enables 24-hour cargo unload and upload operation for a ship carrying 24,000 TEUs – currently the world’s largest cargo ship,” said Zhu Shijie.

The crane upgrades align with surging cargo handling needs at the port. On its path to becoming a world-class port with hard-core strengths, Ningbo-Zhoushan Port is becoming an open hub, taking on the role of a global supply chain organizer and protector, reflecting the high-quality development and resilience of Chinese foreign trade.

This resilience is evident in both volume and structural optimization. Therefore, when Zhu Shijie presses the button for the new container milestone at the end of 2025, that container may well be heading to or coming from emerging markets or the Global South.

https://www.globaltimes.cn/page/202505/1334733.shtml

FinVolution’s BRAVOSHOPS to Boost 1,500 SMEs across Asia, Debuts at UN Global Compact BRI Action Platform Summit

JAKARTA, Indonesia, May 26, 2025 /PRNewswire/ — FinVolution Group (NYSE: FINV), a leading fintech company, has launched its “BRAVOSHOPS” pilot initiative to support small and micro businesses across pan-Asian countries. The Company introduced the initiative at a summit held in Indonesia on May 25, co-organized by the Government of Indonesia and the UNGC BRI Action Platform.

The summit brought together global stakeholders to advance sustainable development across key sectors, including SME empowerment, green innovation, education, and energy transition. During the summit, members of the UN Global Compact unveiled nine flagship pilot initiatives, with FinVolution presenting its BRAVOSHOPS initiative as part of this global effort.

Notably, FinVolution’s BRAVOSHOPS initiative seeks to empower community-rooted small businesses that demonstrate a commitment to social responsibility and cultural heritage. The initiative builds on FinVolution’s experience supporting over 70 small shops in China since 2023. Through a combination of physical upgrades, public engagement, and targeted financial support, the program enhances the visibility, functionality, and impact of participating stores.

As part of its regional expansion, BRAVOSHOPS aims to empower at least 1,500 small businesses across China, Indonesia, the Philippines, and other Asian countries between 2025 and 2030. The initiative reflects FinVolution’s long-term commitment to inclusive growth and sustainable livelihoods.

Building Change from the Ground Up

As FinVolution actively expands the BRAVOSHOPS initiative, two newly supported businesses in Indonesia exemplify the model’s impact.

In Cianjur, West Java, young agricultural entrepreneur Agus Surya founded a tool shop after graduating from university. His store provides essential farming equipment to rural communities and serves as a hub for agricultural education.

“Running an agribusiness is about more than profit and loss — it’s about making a meaningful impact,” Agus said. Responding to his needs, BRAVOSHOPS helped modernize his storefront and display units, giving his shop a fresh, professional look. Agus hopes his revitalized store will serve as a stronger support system for local farmers.

Also, among the early beneficiaries of BRAVOSHOPS in Indonesia is Ms. Vonny Waty, a seasoned chef from Manado, Sulawesi, who has over 15 years of culinary experience. Currently based in Jakarta, she runs a small food stall serving traditional dishes to nearby office workers. However, Vonny had long struggled with limited resources. She faced challenges expanding her business due to a lack of refrigeration and storage, which limited her ability to preserve ingredients and diversify her menu.

Through the BRAVOSHOPS initiative, FinVolution provided essential equipment — including a refrigerator, storage cabinets, and a large-capacity rice cooker — enabling Vonny to improve food safety, stabilize her operations, and expand her offerings. As a result, her income has grown, and she has become a role model for other aspiring women entrepreneurs in her community, demonstrating the transformative power of targeted, practical support.

Scaling Impact Across Borders

FinVolution’s BRAVOSHOPS initiative was first launched in late 2023 in China as a public-interest initiative designed to support small businesses deeply rooted in their local communities. The program focused on identifying microenterprises that not only provided goods or services but also played a meaningful role in fostering social cohesion and local well-being.

Early beneficiaries included a neighborhood barbershop offering monthly free haircuts to elderly residents, a rural reading space organizing volunteer-led literacy sessions for children, and a cafe that created employment opportunities for individuals with hearing impairments. By the end of 2024, BRAVOSHOPS had made a measurable impact, directly benefiting more than 15,000 people across a range of underserved groups, including seniors, children, and marginalized individuals.

The initiative proved that even small-scale interventions — when guided by a deep understanding of community needs — can yield meaningful and lasting social value. This success laid the foundation for the program’s expansion beyond China, demonstrating its potential as a replicable model for empowering local economies and advancing inclusive development.

FinVolution’s decision to expand BRAVOSHOPS to Southeast Asia further underscores the initiatives’ broader relevance and affirms the Company’s leadership in creating value through localized, socially responsible solutions.

Leading the Way in Sustainable Financial Innovation

Since joining the UN Global Compact in 2022, FinVolution has aligned its business strategies with the UN Sustainable Development Goals (SDGs), strengthening its ESG practices across its operations. The Company’s ESG effort has earned international recognition, with Morningstar Sustainalytics rating the firm as a “Low Risk” performer — ranking it among the top 15% of diversified financial firms worldwide. FinVolution also achieved scores above the industry average in the S&P Global Corporate Sustainability Assessment.

Looking ahead, FinVolution aims to scale its inclusive finance efforts by partnering with more organizations, and harnessing its technological and platform strengths to help create a more equitable, inclusive, and sustainable economic environment across Asia and beyond.

Chairman Chen Zhi Named Cambodia’s Entrepreneur of the Year, Prince Holding Group Recognized for Scholarship Program


PHNOM PENH, CAMBODIA – Media OutReach Newswire – 26 May 2025 – Prince Holding Group’s Chairman Neak Oknha Chen Zhi has been named Entrepreneur of the Year in Cambodia 2025 by the World Business Outlook Awards. Additionally, the Group’s Chen Zhi Scholarship has received the Best Overall CSR Excellence in Cambodia 2025 award.

Chairman Neak Oknha Chen Zhi, honored as
Chairman Neak Oknha Chen Zhi, honored as “Entrepreneur of the Year in Cambodia 2025” for the third consecutive year, exemplifies dedicated leadership and a steadfast commitment to sustainable business practices and community welfare.

This marks the third consecutive year that Chairman Chen Zhi and Prince Group have earned recognition from this global awards platform, underscoring their commitment to responsible leadership and sustainable investment in Cambodia’s development.

Under Chairman Chen Zhi‘s leadership, Prince Group has grown into one of Cambodia’s largest and most diversified conglomerates, with significant investments that have contributed to the Kingdom’s economic and social development.

Since its inception, the Chen Zhi Scholarship has provided full university education, mentorship and professional development opportunities to 400 Cambodian students through partnerships with the Ministry of Education, Youth and Sport and the country’s leading academic institutions.

Gabriel Tan, Chief Communications Officer of Prince Holding Group, said: “Chairman Chen Zhi’s strategic vision and business leadership have transformed Prince Group into one of Cambodia’s leading conglomerates while establishing a foundation where commercial success and community development advance together. These recognitions inspire us to strengthen our efforts to create lasting positive change in Cambodia.”

Prince Holding Group continues to pursue its strategic vision of fostering inclusive growth through investments and partnerships in real estate development, financial services and consumer services sectors.

The World Business Outlook Awards are held annually to recognize organizations and individuals making significant contributions to economic growth, innovation and sustainable development. Winners are selected following thorough evaluation of performance, impact and alignment with global best practices.

Hashtag: #ChenZhi #PrinceHoldingGroup #PrinceGroup #ChenZhiScholarship

The issuer is solely responsible for the content of this announcement.

Bangkok Gears Up for Pride Parade at Bangkok Pride Festival 2025

Bangkok Gears Up for Pride Parade at Bangkok Pride Festival 2025
People take pictures in front of a Pride Month display in front of Siam Paragon shopping mall in Bangkok on June 21, 2023. (Photo by Lillian SUWANRUMPHA / AFP)

Bangkok is set to host the three-day Bangkok Pride Festival 2025 from 30 May to 1 June, transforming Rama I Road into what organizers describe as a “rainbow boulevard of equality and celebration.” 

Kalkine Pty Ltd: Empowering Australian Investors with Insightful Research

SYDNEY, May 26, 2025 /PRNewswire/ — Kalkine Pty Ltd, an independent equity research and financial services firm, is known for its expert-driven investment research and actionable insights designed to navigate complex capital markets. With a strong commitment to high-quality analysis, the firm has earned a reputation as a trusted name in Australia’s research advisory landscape.

A Leader in Equity Research and Financial Intelligence

Founded with a mission to democratise access to financial intelligence, Kalkine provides a comprehensive suite of services tailored to support informed investment decisions. The firm’s offerings include in-depth stock analysis, macroeconomic coverage, and sector-specific outlooks, catering to the evolving needs of modern investors.

Kalkine’s research approach blends data science and financial expertise, delivering insights across ASX-listed equities, mutual funds, ETFs, and global economic trends. Operating on a subscription-based model, it offers timely recommendations and general market advice.

Key services include:

  • Equity Research Reports: Detailed analysis of ASX-listed companies covering financials, risks, and strategic outlook.
  • Thematic Reports: Focused insights on emerging themes such as green energy, artificial intelligence, and battery technology.
  • Global Market Insights: Updates on international macroeconomic trends, interest rates, and geopolitical shifts.
  • Stock Screeners & Model Portfolios: Curated tools to help investors align with mid- to long-term strategies.

Local Expertise, Global Perspective

Headquartered in Sydney, Kalkine provides localised insights backed by global research capabilities. Analysts monitor international developments to evaluate their impact on Australian markets. Their work includes earnings forecasts, dividend yield analysis, sector-specific research, and ESG-aligned evaluations.

Driven by Innovation and Transparency

Kalkine’s research is built on transparency and analytical rigor. With the rise of self-directed investing, Kalkine has responded by offering simplified tools that decode complex market data. Its proprietary methodology integrates quantitative metrics, qualitative analysis, and technical indicators to deliver relevant and timely insights.

“Our goal is to empower every client to make informed investment decisions,” said a Kalkine spokesperson. “Markets are complex, but the right research makes them navigable.”

Client-Centric Approach and Future Focus

Kalkine’s customer engagement is anchored in transparency and responsiveness. From onboarding to research support, the firm ensures clarity and prompt service. Its strong client satisfaction reflects a commitment to excellence.

Looking ahead, Kalkine is investing in AI-powered analytics and interactive platforms to broaden its impact in the evolving financial landscape.

Laos, Malaysia Open New Rail-Sea Trade Corridor

Laos, Malaysia Open New Rail-Sea Trade Corridor
Laos, Malaysia Open New Rail-Sea Trade Corridor

Laos and Malaysia have launched a new trade corridor to improve regional logistics and strengthen economic ties, providing a direct route from Laos to global markets.

Abbisko Therapeutics Receives CDE Approval of Breakthrough Therapy Designation for Irpagratinib (ABSK011) in the Treatment of HCC

SHANGHAI, May 26, 2025 /PRNewswire/ — Abbisko Therapeutics (HKEX Code: 02256) announced that its self-developed, highly selective small molecule FGFR4 inhibitor, irpagratinib (ABSK011), has received approval of Breakthrough Therapy Designation from the Center for Drug Evaluation (CDE) of the China National Medical Products Administration (NMPA) for the treatment of Hepatocellular Carcinoma (HCC). Irpagratinib is the first therapeutic agent to leverage molecularly defined biomarkers for precision-targeted treatment in patients with HCC.

During clinical trials, innovative drugs or modified new drugs intended to prevent or treat life-threatening diseases or conditions that severely impact quality of life—where no effective prevention or treatment exists, or where substantial evidence shows significant clinical advantages over existing therapies—may be eligible to apply for the CDE’s Breakthrough Therapy Designation program[1]. The approval of irpagratinib for Breakthrough Therapy Designation is based on its promising Phase I clinical trial data.

Patients with advanced or unresectable HCC currently lack effective treatment options following treatment with ICI- and mTKI-based therapies. Those with FGF19 overexpression often face significantly worse prognosis, and thus new treatment options are urgently needed. The Breakthrough Therapy Designation granted to irpagratinib will expedite its subsequent application and approval process with the CDE, bringing renewed hope and transformative possibilities to patients. 

Recently, Abbisko launched a pivotal registrational clinical study of irpagratinib for the treatment of HCC patients with FGF19 overexpression at Tongji Hospital, Tongji Medical College, Huazhong University of Science & Technology, and Nanjing Tianyinshan Hospital.

About Irpagratinib (ABSK-011)

Irpagratinib is a highly-selective FGFR4 small molecule inhibitor designed to target overexpression of the FGF19 signaling pathway. Several epidemiological studies indicate that approximately 30% of HCC patients worldwide exhibit FGF19 overexpression. Development of targeted therapies against FGFR4 represent an innovative and novel approach to the treatment of HCC.

To date, no FGFR4 inhibitor has been granted regulatory approval globally. According to Frost & Sullivan, irpagratinib is expected to become the first breakthrough treatment for the treatment of HCC patients with FGF19 overexpression.

In addition to monotherapy, Abbisko Therapeutics is exploring irpagratinib in combination with atezolizumab, an anti-PD-L1 antibody manufactured by F. Hoffmann-La Roche and Roche (China), in a Phase II study. At the previous 2024 ESMO GI Congress, Abbisko presented clinical data demonstrating 220mg irpagratinib BID in combination with atezolizumab achieved a 50% objective response rate (ORR) in FGF19+ HCC patients who had previously received immune checkpoint inhibition therapy.

About Abbisko Therapeutics

Founded in April 2016, Abbisko Therapeutics Co., Ltd. (HKEX: 02256.HK), is an oncology-focused biopharmaceutical company based in Shanghai that is dedicated to the discovery and development of innovative medicines to treat unmet medical needs in China and globally. The Company was established by a group of seasoned drug hunters with rich research & development and managerial expertise from top multinational pharmaceutical companies. Since its founding, Abbisko Therapeutics has built an extensive pipeline of innovative programs focused on precision oncology and immuno-oncology.

Please visit www.abbisko.com for more information.

References: 
1.     NMPA突破性治疗药物审评工作程序. https://www.samr.gov.cn/zw/zfxxgk/fdzdgknr/fgs/art/2023/art_3275cb2a929d4c34ac8c0421b2a9c257.html 

Hong Leong Bank Enhances HLB Private Bank and Regional Wealth Management with Strategic Alliance with Lombard Odier

Integrating A Strategic Alliance with Swiss Private Bank Lombard Odier, Key Talent Acquisitions, Development Programs, and AI Tools, the Bank is Poised to Accelerate its Regional Wealth Management Proposition

KUALA LUMPUR, Malaysia, May 26, 2025 /PRNewswire/ — Hong Leong Bank (“HLB” or “the Bank”) announces its strategic alliance with Lombard Odier, a leading global wealth and asset manager with over 225 years of experience, to enhance its HLB Private Bank and Regional Wealth Management proposition. This strategic alliance unites the combined generations of prudent stewardship and innovative financial thinking from Lombard Odier and HLB, a Malaysian financial institution with a 120-year heritage built on trust and a deep understanding of clients’ aspirations.

Inking the strategic alliance at HLB’s HQ in Kuala Lumpur between Kevin Lam, HLB’s Group Managing Director & CEO with Vincent Magnenat, Asia Group Regional Head and Global Head of Strategic Alliances, Lombard Odier, witnessed by (Left) HLB’s Malkit Singh Maan, Chief Financial Officer and Jeffrey Yap, Managing Director & Head of Regional Wealth Management, and (Right) Lombard Odier’s Vanessa Raymundo, Managing Director, Head of Asia Private Banking Strategic Alliances and Hubert Keller, Senior Managing Partner
Inking the strategic alliance at HLB’s HQ in Kuala Lumpur between Kevin Lam, HLB’s Group Managing Director & CEO with Vincent Magnenat, Asia Group Regional Head and Global Head of Strategic Alliances, Lombard Odier, witnessed by (Left) HLB’s Malkit Singh Maan, Chief Financial Officer and Jeffrey Yap, Managing Director & Head of Regional Wealth Management, and (Right) Lombard Odier’s Vanessa Raymundo, Managing Director, Head of Asia Private Banking Strategic Alliances and Hubert Keller, Senior Managing Partner

This collaboration forms a cornerstone of HLB’s accelerated strategy to become the best-run bank in Malaysia, underscoring its vision for responsible and forward-thinking wealth management. Under this strong strategic alliance, HLB Private Bank and Regional Wealth Management will offer clients a sophisticated and personalized experience, combining Lombard Odier’s long-term global perspectives from its Chief Investment Office with the Bank’s local market insights. This synergy provides a comprehensive understanding of investment opportunities and tailored strategies for sustained, generational growth. Beyond investment expertise, HLB clients are able to access to comprehensive wealth architecture and bespoke advisory services focused on their individual goals, ensuring tailored solutions for wealth preservation and transfer, including succession planning and sustainable investments.

“We believe this is a transformative era for wealth management, driven by unprecedented wealth creation and a surge in entrepreneurship and this demands a departure from traditional approaches. Our ambition to be the best-run bank is intertwined with our commitment to empower clients to build wealth that transcends generations. Our strategic alliance with Lombard Odier, an institution that shares our profound long-term perspective, allows us to elevate our wealth offerings here. Together, we are charting a course for enduring wealth, providing our discerning clients in Malaysia and the region with access to world-class expertise grounded in a shared commitment to responsibility and innovation, ensuring their legacies flourish for generations to come,” affirms Kevin Lam, Group Managing Director and Chief Executive Officer of HLB.

Alongside this strategic alliance, HLB is also focused on key internal advancements, implementing a comprehensive strategy that includes expanding its wealth management team and recruiting top-tier talent, developing the Wealth Academy for enhanced training, integrating AI to empower Relationship Managers, and continuously pursuing partnerships that enhance value for clients and the business.

Jeffrey Yap, Managing Director and Regional Head of Wealth Management, HLB emphasizes, “This strategic alliance with Lombard Odier is a key part of the Bank’s ongoing transformation and initiatives to meet the evolving needs of the market. With Asia-Pacific’s remarkable wealth growth, including a doubling of private assets and a surge in new HNWIs which will see a significant rise in intergenerational wealth transfer, the need to provide sophisticated guidance has never been greater. This collaboration allows us to offer bespoke wealth solutions that are not only designed for today’s complexities but are also thoughtfully constructed to secure the financial well-being of generations to come – building legacies, not just portfolios.”

To further enhance the value for HLB clients, the strategic alliance with Lombard Odier plays a pivotal role in delivering sophisticated investment solutions through Hong Leong Asset Management Bhd (HLAM), a key entity of the Hong Leong Financial Group. This collaboration strategically leverages Lombard Odier’s expertise as a target fund manager, thereby broadening and enriching the Group’s wealth management offerings. 

Vincent Magnenat, Asia Group Regional Head and Global Head of Strategic Alliances, Lombard Odier, remarks, “We believe in working with the right partners who share our vision of the future of wealth and asset management – those who complement each other’s DNA, and who bring a proven track record in the wealth management space with a deep commitment to innovation and sustainability. In HLB, we see a strong alignment on all fronts, and our Strategic Alliance is a powerful testament to our shared values. We are delighted to welcome HLB into our Ecosystem of Strategic Alliances.” 

For more information, visit: www.hlb.com.my/private

About Hong Leong Bank Berhad

Please visit  www.hlb.com.my