ID :
137640
Sat, 08/14/2010 - 18:48
Auther :
Shortlink :
https://oananews.org//node/137640
The shortlink copeid
NEM SHOULD LEVERAGE MALAYSIA`S DIVERSITY
KUALA LUMPUR, Aug 14 (Bernama) -- The New Economic Model (NEM) should
leverage Malaysia's diversity in a methodical way by providing support for
Malaysian companies to expand regionally, CIMB Group Chief Executive Nazir Razak
said Saturday.
"What has worked for CIMB and Axiata, YTL and AirAsia can work for Malaysia.
Such companies draw on the talent of Malaysians wherever they are located," he
said in a luncheon address at MCA Chinese Economic Congress here.
"We need even more Malaysian companies, even at the small and medium scale
enterprise (SME) level to go trans-national," Nazir said, adding that he is
looking forward to the NEM creating a framework for spurring growth and the
proliferation of Malaysian trans-national companies.
He said the value of diversity is well-understood in the business world.
"Diversity in portfolios can mitigate risk, diversity in the sales force
translates into better client coverage and diversity in thinking broadens the
range of our solutions," he said.
He said diversity fosters the creativity and cultural adeptness needed to
build and grow regional businesses.
Nazir pointed out that CIMB has been a great beneficiary of Malaysian
diversity.
"Our organisation has grown from a predominantly Malaysian investment bank
in 2005 into a leading Asean universal bank in just five years," he said.
Over this period, he said, CIMB's market capitalisation went from RM5
billion (US$1.58 billion) to RM50 billion (US$15.82 billion), staff strength has
grown from 1,000 to over 36,000 and today, has over 20 different nationalities
within its ranks.
He said CIMB now serves over 10 million customers across Southeast Asia from
large corporates to SMEs to individual retail clients.
"The diversity of our people and their very Malaysian ability to adapt to
create value across a range of cultural settings have been key to our success,"
he added.
-- BERNAMA
leverage Malaysia's diversity in a methodical way by providing support for
Malaysian companies to expand regionally, CIMB Group Chief Executive Nazir Razak
said Saturday.
"What has worked for CIMB and Axiata, YTL and AirAsia can work for Malaysia.
Such companies draw on the talent of Malaysians wherever they are located," he
said in a luncheon address at MCA Chinese Economic Congress here.
"We need even more Malaysian companies, even at the small and medium scale
enterprise (SME) level to go trans-national," Nazir said, adding that he is
looking forward to the NEM creating a framework for spurring growth and the
proliferation of Malaysian trans-national companies.
He said the value of diversity is well-understood in the business world.
"Diversity in portfolios can mitigate risk, diversity in the sales force
translates into better client coverage and diversity in thinking broadens the
range of our solutions," he said.
He said diversity fosters the creativity and cultural adeptness needed to
build and grow regional businesses.
Nazir pointed out that CIMB has been a great beneficiary of Malaysian
diversity.
"Our organisation has grown from a predominantly Malaysian investment bank
in 2005 into a leading Asean universal bank in just five years," he said.
Over this period, he said, CIMB's market capitalisation went from RM5
billion (US$1.58 billion) to RM50 billion (US$15.82 billion), staff strength has
grown from 1,000 to over 36,000 and today, has over 20 different nationalities
within its ranks.
He said CIMB now serves over 10 million customers across Southeast Asia from
large corporates to SMEs to individual retail clients.
"The diversity of our people and their very Malaysian ability to adapt to
create value across a range of cultural settings have been key to our success,"
he added.
-- BERNAMA
