Hong Kong, 29 July 2013 – Reval, a leading global Software-as-a-Service (SaaS) provider of comprehensive and integrated Treasury and Risk Management
(TRM) solutions, announced today that Axiata Group Berhad (Axiata), one
of Asia’s largest telecommunications companies, has selected Reval to
centralise its treasury operations and build one of Malaysia´s first
regional Treasury Management Centres designed to service their operating
entities in Malaysia, Cambodia, Sri Lanka and Bangladesh.
“We are thrilled to welcome Axiata to our growing client community in
Asia Pacific,” says Tony Singleton, Managing Director APAC at Reval.
“With 5.1% predicted GDP growth rates for both 2013 and 2014, we expect
Malaysia to develop into the regions third major treasury hub, alongside
Singapore and Hong Kong, and we look forward to supporting expanding
corporations like Axiata with our technology and expertise as they
optimise their financial operations in Asia Pacific´s multi-currency and
The Malaysian Investment and Development Authority is offering tax
incentives over a period of five years to encourage companies to locate Treasury Management Centres (TMC) in the country. Axiata is qualified under the TMC status.
Axiata is one of the largest Asian telecommunication
companies. Axiata has controlling interests in mobile operators in
Malaysia, Indonesia, Sri Lanka, Bangladesh and Cambodia with significant
strategic stakes in India and Singapore. The group, including its
subsidiaries and associates, has close to 220 million mobile subscribers
in Asia and provides employment to over 20,000 people. The group
revenue for 2012 was USD 5.7 billion. Axiata was awarded the Frost &
Sullivan 2009, 2010, 2011 and 2012 Asia Pacific ICT Award for Best
Telecom Group and the Telecom Asia Best Regional Mobile Group 2010 and
2011 for its operations in multiple Asian markets. For more information,
For more information, visit www.reval.com or email email@example.com.
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