Baiduri Bank Sendirian Berhad (“Baiduri Bank”) and Industrial and Commercial Bank of China (Malaysia) Berhad (“ICBC Malaysia”) formalised a strategic partnership through the signing of a Memorandum of Understanding (MoU) during the 22nd China-ASEAN Expo (CAEXPO) in Nanning, Guangxi Zhuang Autonomous Region, China. The agreement marks an important step in strengthening financial cooperation between both institutions in Brunei Darussalam, Malaysia and China, by leveraging China’s position as a key trading partner in the region.

The MoU was signed by Ti Eng Hui, Chief Executive Officer of Baiduri Bank, and Geng Hao, Managing Director and Chief Executive Officer of ICBC Malaysia, in the presence of Awangku Nor Muhammad Nizam bin Pengiran Haji Tengah, Head of Institutional Banking of Baiduri Bank, and Mr. Lim Kok Fuat, Deputy Chief Executive Officer of ICBC Malaysia.

The MoU sets out a framework for collaboration across several key areas. Both banks will work together to introduce and refer clients seeking trade and investment opportunities in Brunei Darussalam, Malaysia, China and other ASEAN markets where ICBC has an established presence. Baiduri Bank will also gain access to ICBC’s global network, enabling participation in cross-border trade financing and international syndicated loans, further supporting Bruneian corporates as they expand abroad.

In addition, the partnership will see both banks co-organise economic forums, trade exhibitions and investment seminars across Brunei Darussalam, Malaysia, China and ASEAN to promote greater business flows. The MoU also places emphasis on the promotion of the Chinese Renminbi (RMB) as an alternative settlement currency for bilateral trade and investment, improving efficiency while reducing foreign exchange risks. Exchange of information on trade, market and economic insights, as well as potential cooperation in emerging areas such as environmental, social and governance (ESG) initiatives and green finance, will further strengthen the collaboration.

For Baiduri Bank, this partnership will further expand its regional reach and enhance the Bank’s ability to support Bruneian corporates venturing into international markets. For ICBC Malaysia, the agreement strengthens its business collaborations in Brunei Darussalam, allowing it to provide solutions to Chinese and Malaysian enterprises exploring opportunities in the Sultanate. Businesses across the three markets will benefit from more efficient cross-border transactions, improved access to trade financing, and greater support for investment projects. At a wider level, the collaboration contributes to China-ASEAN financial connectivity, supports regional integration and reflects global trends in currency diversification.

Held under the sub theme “Forging a closer China-ASEAN Community with a Shared Future”, the 22nd China-ASEAN Expo brought together Chinese and Foreign Leaders, Heads of International Multinational Corporations, and financial institutions. As a premier platform for deepening trade and investment ties, the Expo provided the stage for Baiduri Bank and ICBC Malaysia to announce their collaboration, reflecting a shared commitment to drive sustainable and inclusive growth across the region.

Ti Eng Hui, Chief Executive Officer of Baiduri Bank, shared, “This MoU represents a significant step forward in Baiduri Bank’s mission to support Brunei Darussalam as one of the regional financial hubs. Partnering with ICBC Malaysia opens new channels for trade, investment, and financial innovation, which will directly benefit our clients in Brunei Darussalam.”

Geng Hao, Managing Director and Chief Executive Officer of ICBC Malaysia, added, “We are honoured to formalise this strategic partnership with Baiduri Bank, which represents a significant milestone in strengthening financial collaboration among Brunei Darussalam, Malaysia and China. Through this MoU, ICBC reaffirms its commitment to advancing regional economic integration by facilitating cross-border trade, enhancing investment flows, and promoting the broader adoption of the Renminbi (RMB) as a viable settlement currency. We look forward to working closely with Baiduri Bank to deliver innovative financial solutions and contribute meaningfully to the sustainable development of the region.”

Looking ahead, the partnership between Baiduri Bank and ICBC Malaysia reflects the shared ambition of financial institutions in China and ASEAN to build deeper ties and work together towards long-term growth. With its comprehensive scope, the MoU lays the foundation for future collaboration, from conventional banking to green finance and emerging financial technologies, positioning both banks as active enablers of regional prosperity.

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