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3rd April 2014

Bandar Seri Begawan, 03 April 2014 – Baiduri Bank, this morning, hosted a seminar at Radisson Hotel on its new service to corporate customers, the Renminbi Trade Payment Services.

On hand to welcome guests was Mr. Pierre Imhof, CEO of Baiduri Bank. In his welcome speech, Mr. Imhof said, "The Renminbi Trade Payment Service is brought to you in partnership with our correspondent bank, The Industrial Commercial Bank of China (ICBC) for remitting funds to China for the purpose of trade settlement."

"Payments for goods and services to companies in China have traditionally been carried out by using US Dollars, and are subject to fluctuations. With this Renminbi Payment Service, fluctuation risk is minimized, and, being in the same time zone, businesses in China can receive payments faster than before," explained Mr. Imhof.

A presentation on Chinese Renminbi trade related payments to China was then conducted by Ms. Jennifer Tan, Head of Financial Institutions & Sales, and Deputy Head of Global Market & Treasury Department at Industrial and Commercial Bank of China (Malaysia) Berhad to provide guests with further insight of the Renminbi Trade Payment Service, and how it can help provide better, more efficient financial services to their cross-border businesses.

Baiduri Bank officers and staff were also present during the event to assist in any enquiries that guests may have about the Renminbi Trade Payment Service, and offer advice on how Baiduri Bank could help expand cross-border use of Renminbi, allow corporate banking customers to expand their overseas business, dispense with currency exchanges, lower the foreign exchange risk, and provide convenience to cross-border Renminbi settlements.

Also present was Mr Ti Eng Hui, Deputy CEO as well as Pengiran Azaleen Pg Dato Mustapha, Senior Manager, Treasury Department of Baiduri Bank.

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