Latest news with #OCBCBank(Malaysia)Bhd
New Straits Times
5 days ago
- Business
- New Straits Times
OCBC cuts lending, deposit rates after OPR reduction
KUALA LUMPUR: OCBC Bank (Malaysia) Bhd has reduced its lending and deposit rates following Bank Negara Malaysia's 25 basis points cut in the Overnight Policy Rate. Effective today, OCBC's Standardised Base Rate is reduced from 3.00 per cent to 2.75 per cent, its Base Rate from 3.83 per cent to 3.58 per cent and its Base Lending/Financing Rate from 6.76 per cent to 6.51 per cent. "All loan and financing rates tied to the bank's benchmark and lending rates will be adjusted accordingly," the bank said in a statement. In line with the changes, the OCBC's conventional fixed deposit and Islamic time deposit board rates will also be lowered by 25 basis points.
The Star
10-07-2025
- Business
- The Star
OCBC Bank wins green financing awards at ABF 2025
From left: OCBC Bank (Malaysia) Bhd executive director, wholesale corporate banking Mohd Nadri Muhamad Noor, OCBC Bank managing director, senior banker coverage and head of investment banking Tan Ai Chin, Permodalan Nasional Bhd vice president, PNB proprietary, investment division Wan Munirah Wan Abdul Rahman and Asian Banking & Finance editor-in chief and publisher Tim Charlton at ABF Wholesale Banking Awards 2025. KUALA LUMPUR: OCBC Bank (Malaysia) Bhd has won the Malaysia International Green Financing Bank of the Year award at the Asian Banking & Finance Wholesale Banking Awards 2025 in Singapore. The bank also received the Green Deal and Debt Deal of the Year awards at the Asian Banking & Finance Corporate & Investment Banking Awards 2025, in recognition of its continued commitment to sustainability and environmental responsibility. Managing director, senior banker, and head of investment banking Tan Ai Chin said the awards reflect the bank's strong commitment to promoting ESG best practices across the region. 'By continually pioneering first-of-their-kind, bespoke and award-winning transactions, we have established ourselves as a prime mover in ESG financing adoption amongst Malaysian publicly listed companies and government-linked companies, by offering holistic and value-accretive financing solutions. 'The recognition is also symbolic of our successful partnership with our valued business partners who have entrusted us to support their transition journey,' she said in a statement. OCBC Bank received the Green Deal of the Year award for leading a landmark GBP210 million Islamic green financing arrangement for PNB Jersey Ltd, a wholly owned subsidiary of Permodalan Nasional Bhd (PNB), marking its first-ever Islamic sustainable financing facility. The bank acted as the lead coordinating mandated lead arranger, facility & security agent and sustainability structuring adviser. Pantai Holdings Sdn Bhd, a subsidiary of IHH Healthcare Bhd won the Debt Deal of the Year award for its RM15bil sukuk programme, with an initial RM4bil issuance. OCBC Al-Amin served as the sole principal adviser, lead arranger, sustainability and Shariah adviser, and facility agent. 'As a strong advocate of sustainability, OCBC Bank has been driving innovation in the sustainability ecosystem. The Bank is well positioned to shape the future of investment and corporate banking, through building enduring partnerships and driving responsible growth across the region,' Tan said.
The Sun
09-07-2025
- Business
- The Sun
Inflation likely to be under control
PETALING JAYA: Bank Negara Malaysia has reaffirmed that the impact of current and upcoming domestic policy reforms on inflation is expected to remain manageable – a view in line with analysts' estimates. OCBC Bank (Malaysia) Bhd global markets research & strategy senior Asean economist Lavanya Venkateswaran said even if the planned rationalisation of RON95 fuel takes effect in October 2025, with a potential price increase of 20–25%, the adjustment is projected to add only 0.5 percentage points to headline inflation, bringing it to around 2.0% for the year. She said this moderate level suggests that inflation will stay within a range that allows BNM to maintain a policy stance supportive of economic growth. 'Our GDP forecast for 2025 stands at 3.9% year-on-year, but we expect growth to slow sharply in the first half of the year to 3.6% from 4.3% if the 25% US tariffs are implemented on August 1 without any exemptions. 'We expect this to weigh on domestic demand, which has remained strong in the first half of 2025. 'With inflation likely to stay under control despite subsidy reforms and slower growth, we forecast that BNM will cut the policy rate by another 25 basis points – either at the Sept 4 or Nov 6 meeting – bringing it down to 2.50% by the end of 2025,' Lavanya said in a report. Meanwhile, BNM has stated that it will continue to take proactive steps to support the country's economic momentum as global growth shows signs of steady expansion. At its latest meeting, the Monetary Policy Committee (MPC) decided to cut the Overnight Policy Rate (OPR) by 25 basis points to 2.75% yesterday, aiming to create a more supportive monetary environment. The ceiling and floor rates of the OPR corridor have also been adjusted to 3.00% and 2.50% respectively. The central bank said the decision reflects an effort to sustain domestic economic resilience, in line with global trends showing continued growth – largely driven by strong consumer spending and, to some extent, early demand brought forward by businesses. Further, BNM also noted that the global growth outlook would remain supported by positive labour market conditions, less restrictive monetary policy, and fiscal stimulus. This outlook is weighed down by uncertainties surrounding tariff developments, as well as geopolitical tensions. Increased volatility in global financial markets and commodity prices could also result from these uncertainties. For Malaysia, BNM said the latest developments point towards continued growth in economic activity in the second quarter, underpinned by sustained domestic demand and export growth. Moving forward, the central bank expects resilient domestic demand to support growth. Employment and wage growth, particularly within domestic-oriented sectors, as well as income-related policy measures, will support household spending. 'The expansion in investment activity will be sustained by the progress of multi-year projects in both the private and public sectors, the continued high realisation of approved investments, as well as the ongoing implementation of catalytic initiatives under the national master plans,' it said. Further, the central bank said favourable trade negotiation outcomes, pro-growth policies in major economies, continued demand for electrical and electronic goods, and robust tourism activity could raise Malaysia's export prospects. However, the growth outlook remains vulnerable to downside risks, primarily due to slower global trade, weakened sentiment, and lower-than-expected commodity production. Headline and core inflation averaged 1.4% and 1.9% in the first five months of the year, respectively, BNM noted. Overall, inflation in 2025 is expected to remain moderate amid contained global cost conditions and the absence of excessive domestic demand pressures, it said. Inflationary pressure from global commodity prices is expected to stay limited, helping to keep domestic cost conditions moderate. In this context, the impact of current and upcoming policy reforms on inflation is likely to remain contained. BNM said although Malaysia's economy remains resilient, growth prospects could still be affected by external uncertainties. It said the ringgit's performance will continue to be influenced by global factors, but strong economic fundamentals and structural reforms are expected to provide steady support. Against this backdrop, BNM's recent rate cut is a pre-emptive move to safeguard growth, with the central bank remaining watchful of risks to both inflation and economic momentum.
New Straits Times
16-06-2025
- Business
- New Straits Times
OCBC extends RM351mil financing for projects in Johor-Singapore SEZ
KUALA LUMPUR: OCBC Bank (Malaysia) Bhd has approved RM351 million in financing for three major real estate developments within the Johor-Singapore Special Economic Zone (JS-SEZ). The funding supports a joint venture between property developers See Hong Chen Group and EXSIM Group for the acquisition of freehold land in Johor Bahru. In a statement today, the bank said the mixed-use development has a projected gross development value of RM1.8 billion. OCBC is also financing See Hong Chen Group's purchase of additional freehold land parcels in Bandar Johor Bahru. "The JS-SEZ represents a significant opportunity for long-term economic growth," said OCBC managing director and wholesale banking head Jeffrey Teoh. "We're committed to going beyond traditional lending by delivering integrated financial solutions through our One Group capabilities," he added. The JS-SEZ, a flagship cross-border economic initiative, is expected to catalyse investment flows between Johor and Singapore, with connectivity boosted by the Rapid Transit System Link, which is slated for completion in 2026. See Hong Chen Group managing director See Cherng Jye said the developments aligned with the group's strategy to deliver impactful assets in growth zones. "This collaboration marks a significant milestone for us as we expand our footprint into Johor," said EXSIM managing director Lim Aik Hoe, adding that the projects are designed to meet evolving market and community needs. OCBC is the second-largest banking group by assets in Southeast Asia and is part of a wider financial ecosystem that includes Great Eastern, Bank of Singapore and asset manager Lion Global Investors.
Barnama
22-04-2025
- Business
- Barnama
OCBC CUTS MALAYSIA'S 2025 GDP FORECAST TO 4.3 PCT
BUSINESS OCBC Chief Economist Selena Ling speaks during a press conference at The Linc today on the 2025 Economic Outlook, focusing on the global economy following the announcement of new tariff policies by the US government on April 2 this year. KUALA LUMPUR, April 22 (Bernama) -- OCBC Bank (Malaysia) Bhd has revised Malaysia's gross domestic product (GDP) growth for 2025 to 4.3 per cent from 4.5 per cent on a weaker external demand outlook. Chief economist and head of global market research and strategy Selena Ling said the adjustment reflects growing concerns over weakening external demand and persistent global economic headwinds. She said the 4.3 per cent growth projection is based on a 24 per cent reciprocal tariff on Malaysian exports to the US announced in early April. 'But, this is the big caveat, there's downside risk. For Malaysia, semiconductors and electronics and electrical (E&E) exports are very important; it's almost 80 per cent of Malaysia's total exports to the US. 'So at some point, if the semiconductor tariff does come in, there will be further pressure on growth. Our worst case scenario, we are probably looking somewhere closer to 3.5 per cent,' she told the media during OCBC's 2025 economic outlook today. She said the exemptions for semiconductors and associated products have provided some reprieve because about 46 per cent of Malaysia's exports to the US are still exempt from tariffs based on the latest regulations. This includes E&E appliances products, and encompasses electronic integrated circuits, photovoltaic cells, communication apparatus and automatic data processing machines. More importantly, the US Trump administration has not ruled out the imposition of a semiconductor tariff, which will impact the economy, she said. Ling noted that Malaysia's 24 per cent reciprocal tariff rate is lower than Vietnam's 46 per cent, Cambodia's 49 per cent, Thailand's 37 per cent and Laos' 48 per cent. This allows it to maintain its relative competitiveness for companies geared towards exporting to the US.
