HSBC: Ringgit financing stays relevant for China's Belt and Road Initiatives

January 22, 2018 | By | Reply More

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KUALA LUMPUR: Ringgit financing remains relevant for the Belt and Road Initiatives in Malaysia, even as demand for Chinese renminbi (RMB) soars, according to HSBC.

HSBC’s global head of RMB business development Candy Ho foresees increasing demand for RMB, but at the same time, the ringgit is also becoming important.

She said corporates need to convert financing raised in foreign currency, which are cost ineffective, hence there are more needs for domestic currency, in view of their participation in domestic projects.

The Malaysian capital market, especially with the unique sukuk offering, is deep, mature and has the capacity to support infrastructure projects.

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