News Archive 2007

HSBC LAUNCHES THE FIRST END-TO-END RECEIVABLES SOLUTION IN INDONESIA

The Hongkong and Shanghai Banking Corporation Limited today launched Integrated Receivables Solutions - the only comprehensive and end-to-end Receivables Solutions in Indonesia. The solution aimed at all form of collections including the most complex retail collections. The newly launched solution includes the ability to collect via multiple channels and integrate it through HSBC’s sophisticated Receivable Management System for automated reconciliation and completing the entire collection cycle by sending advices through SMS, email or fax to customers. This system can also be seamlessly integrated with the customers’ back office systems.

Commenting during the launch, Sunil Veetil, Head Payments and Cash Management Indonesia, said: “Indonesia is growing at a tremendous pace and the competition is getting intense , thus corporates need to keep their cost low and do not lose sight of the risks involved in managing their cash flow. They need to have a cost efficient solution that enhances their ability to collect and bank their money fast and get accurate information on a real time basis, without necessarily adding significant overheads”.

Integrated Receivables Solutions is also a big boost in terms of country coverage including ability to cover remote places where they traditionally relied on third parties to collect which is high risk and high cost.

Stephan Levieux, Head of Product Management for Asia Pacific commented “This solution really lives up to our world’s local bank motto. We have Integrated Receivables Management solution across Asia Pacific, but this solution that we have launched today is tailored specifically to suit Indonesian businesses. The solution not only takes into account the local market conditions but also takes advantage of the infrastructure available in this country, which I should say is very well developed. I am proud to say that this is perhaps one of the most sophisticated and complete collection solution across Asia Pacific”.

HSBC was ranked as the Best Cash Management Bank for Medium and SME segments by Asiamoney poll 2007. It is also rated in the 2007 Greenwich survey as No 1 in Cash Management Leadership reputation, No 1 in International Cash Management, No 1 in Relationship Quality & No 1 in Customer Service Quality index.





For further information, please contact :

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

HSBC LAUNCHES THE WORLD’S LOCAL BANK ACCOUNT

HSBC has created the first truly global personal banking service for the world’s 200 million mass affluent1 and internationally mobile consumers.

Rolled out simultaneously across 35 countries and territories2, HSBC Premier is the most comprehensive global banking and wealth management service ever devised. Breaking down international barriers, Premier offers seamless cross-border banking and the promise that customers can, for the first time, take their accounts, credit history and banking relationships with them wherever they choose to live and work.

Premier customers have access to 250 international Premier Centres, cited in major cities around the world, and more than 6,000 branches with Premier service points. Each location will have access to all the information needed to serve customers and provide local advisory services.

Rakesh Bhatia, CEO HSBC Indonesia said: “There are around 200 million mass affluent consumers in the world today and that number is growing rapidly, by as much as 20 per cent a year. These customers are highly mobile, sophisticated and knowledgeable. HSBC, with operations in 83 markets, is the only bank in the world that could provide them with the seamless international service they need. This is definitely a breakthrough initiative and dedication from HSBC to all our customers around the world. I am very proud to offer this top notch service to our valued Premier customers here in Indonesia”

To support Premier customers, HSBC has embarked on one of the largest re-training exercises of its kind, providing over 4,000 HSBC Premier Relationship Managers around the world, plus another 2,500 support staff with the necessary training and accreditation so that they are fully ready to provide the new services from day one.


HSBC already has over two million customer signed up to its old, nation-specific, Premier services, but with an estimated 110 million mass affluent consumers globally and an annual growth rate of over 20 percent, there are significant opportunities to capture further market share in this sector.


The new global Premier service brings with it a host of enhanced services, which include:

· A single account view of all accounts held with HSBC globally via Internet
· Free fund transfers between accounts, where ever they are based, from November
· A credit card offering exclusive deals from 6,000 merchant in 40 countries
· Access to banking services and lounge facilities across 35 countries and territories
· Ability to pre-open overseas accounts in home country and transfer credit history
· Equal status across the Premier network with local minimum requirements waived
· Manage all accounts, whichever country they are in, through a single website
· One worldwide number 1-908-PREMIER for emergency assistance
· Professional investment commentaries on the global economy and markets
· Pre-approved mortgages (up to 60 per cent Loan-To-Value) on up to three properties, home or abroad

For further information, please contact :

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

HSBC OPENS MANYAR BRANCH

HSBC today opened its new Manyar branch in Surabaya , further expanding the Bank’s network in Surabaya to three outlets - the largest service network amongst foreign banks in Surabaya. The ceremony which was themed in Oriental Java attended by Rakesh Bhatia, Chief Executive Officer HSBC Indonesia; Ravi Sreedharan, Head of Personal Financial Services; Rusli Sutanto, Senior Vice President Personal Banking; Hartini Saputra, Senior Vice President Region 2; Yuyun Soewono, Branch Manager Manyar.

Rakesh Bhatia, Chief Executive Officer of HSBC Indonesia, said: “Today, we are delighted to be able to further expand our branch service network in Surabaya. It is part of our overall network expansion in Indonesia where HSBC has a long-term commitment.  Surabaya is a key for both corporate and retail markets for HSBC in Indonesia and we will provide diversified products to meet our customers’ growing needs for world-class banking services.”

HSBC Manyar branch is strategically located at the business district and residential area of Manyar, one of Surabaya’s prime business districts, thus offering greater convenience to customers in Surabaya.   Manyar branch opens six days in a week starting from Monday to Saturday, offers customers various banking services including personal banking services, HSBC Premier Center, 24 hour Banking Center and credit card services. As part of HSBC’s appreciation to customers, the following benefits are offered at Manyar branch:
- Teller Services including cash deposits and withdrawals
- Clearing Services including cheque deposit and collection
- Account Opening for retail customers
- Global Premier Centre
- ATM services
- Telegraphic Transfers and Interbank Giro payments
- Foreign Exchange Service
- Other range of products include insurance and investment

For further information, please contact :

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

HSBC HELD “INVITATIONAL GOLF CHALLENGE 2007” WITH ITS COMMERCIAL BANKING CUSTOMER IN SURABAYA

HSBC Commercial Banking – Surabaya Branch host an "Invitational Golf Challenge 2007”, which would serve as a token of appreciation and further strengthening of relationship with HSBC Surabaya’s Commercial Banking customers. The event took place on 28 August 2007 at Bukit Darmo Golf, Surabaya. Among the attendances are Rakesh Bhatia, CEO HSBC Indonesia, Mervyn Fong, Deputi CEO HSBC Indonesia and Khuresh Faizullabhoy, Head of Commercial Banking HSBC Indonesia.

Rakesh Bhatia, CEO HSBC Indonesia says,” We believe in order to provide the best product and services; we need to understand and know our customers. We are happy to have this event, which serve as our gratitude to the customers and also as a great medium for us to get close and understand them in a better way.” 

The occasion began on Friday afternoon (August 28 2007) in a Shot Gun format. Latter in the evening, the event continued with Dinner and live entertainment. Approximately 45 golfers took part in the game, while more than 80 customers (inclusive of golfers and non golfers) will join the dinner, including CEO HSBC Indonesia, and other Commercial Banking Senior. In addition to the tournament prizes, a Volvo S-60 was up for hole-in-one prize.

For further information, please contact :

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

HSBC AMANAH SYARIAH OPENS FIRST Retail BRANCH
The First Retail Shariah Branch in International Bank-

HSBC Amanah Syariah opens the first retail Shariah branch in Indonesia - the first Syariah retail branch to be opened by an international bank in Indonesia and the first HSBC Amanah retail branch in Asia Pacific Region. The branch was officially launched by Rakesh Bhatia, CEO HSBC Indonesia and witnessed by Mahmoud Abushamma, Head of HSBC Amanah Syariah, Ravi Sreedharan, Head of HSBC Personal Financial Services and over 100 invitees.

Rakesh Bhatia, CEO HSBC Indonesia says: “Today, we once again demonstrate our seriousness and commitment to shariah banking and I am proud to see the progress of the business along with the shariah industry in Indonesia. At HSBC, we all believe that shariah banking provides an alternative financial solution. Research has shown that nearly 40 per cent of non-shariah bank customers in Indonesia are keen to bank with Shariah.”

Rakesh Bhatia added that HSBC entrance into Islamic finance started in 1994, where it was the first foreign bank to establish an Islamic unit in Malaysia.  In 1998, HSBC established HSBC Amanah, the global Islamic financial services division of the HSBC Group. It is headquartered in the UK and has regional representatives in Indonesia, the United States of America, Saudi Arabia, the United Arab Emirates, Malaysia, Singapore, Bangladesh and Brunei. With the global resources of the HSBC Group at its disposal, HSBC Amanah Syariah is uniquely positioned to provide solutions on an international scale that are compatible with the requirements of the Syariah (Islamic Law).        

Mahmoud Abushamma, Head of HSBC Amanah Syariah says: “The expansion to Shariah retail banking was driven by our customers needs.  We recognise that customers demand more product choices and greater flexibility in their day-to-day banking.  That is why HSBC Amanah brings a range of new Shariah personal banking services and products to Indonesia.  As HSBC Amanah continues to grow, we also continue to expand our range of products and services, as well as, the number of countries in which we operate.

This flagship branch is opened to showcase Amanah’s modern, progressive and sophisticated image and reflect our commitment to bring global standard Shariah products to the Indonesian market. These products will be available at all HSBC branches nationwide, by capitalizing on the office channeling regulation issued by Bank Indonesia.”

HSBC with its global brand “HSBC Amanah” was the first, and continues to be the only foreign bank to start providing Shariah compliant banking services since October 2003. HSBC Amanah, locally known as HSBC Amanah Syariah, is acknowledged as a pioneer and leader in the development of the Islamic financial industry in Indonesia. At first, HSBC Amanah Syariah focused on the corporate sector.  HSBC Amanah Syariah successfully completed two international Murabaha syndications for PT Pertamina (Persero). The first with value of US$322 million (2004), and the second with value US$200 million (2006). These two facilities have successfully introduced Indonesia to the Middle-east investor base, as they were the first Shariah syndications to be originated in Indonesia for the international market. The US$200 million Murabaha syndication for PT Pertamina (Persero) was recently awarded “Indonesian Deal of the Year” and “Trade Finance Deal of the Year for 2006” by a leading international Islamic financial publication, Islamic Finance News, in their 2006 Islamic Finance Award. Most recently in 2007, HSBC Amanah has again successfully completed its third international Murabaha syndication, for PT Krakatau Steel (Persero) in the amount of US$50 million.

To continue the pioneering streak in Shariah banking in Indonesia, HSBC Amanah Syariah extended its expertise to retail banking in March 2007. Initially, HSBC Amanah Syariah will offer a core suite of retail banking products, such as Amanah Savings Account, Amanah Current Account, Amanah Term Investment and Fortis Persona Amanah investment fund. Notwithstanding, HSBC Amanah Syariah will continue to expand the initial product range to offer a wider range of alternatives to cater the needs of customers.

HSBC Amanah Syariah has a local shariah supervisory committee consisting of three esteemed scholars, i.e., K.H. M.A. Sahal Mahfudh (Chairman), Prof. Dr. H.M. Din Syamsuddin and Ir. H. Adiwarman A. Karim, MBA. It is formed to ensure strict compliance to Shariah principles to complement the high standards set by HSBC’s own internal risk management guidelines, audit and control systems.

For further information, please contact :

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

HSBC SPONSORED “GO GREEN” PROJECT

CEO HSBC Indonesia together with Miss Universe, Putri Indonesia 2007 and the other 1,000 volunteer plant 15,000 trees to Combat Global Warming

August 7, 2007 – under the coordination of Plant-a-Tree Today Foundation, Miss Universe 2007, Putri Indonesia 2007 along with 25 HSBC staff were involved to plant more than 15,000 trees to combat the Global Warming effect. Rakesh Bhatia (CEO HSBC Indonesia) attended the event and symbolically did the first planting.

Rakesh Bhatia, Chief Executive Officer HSBC Indonesia, said: “HSBC is really pleased to be part of this action. Global Climate has becoming HSBC’s main concern everywhere HSBC’s operates in the world. We have been very passionate and keen to always look for partners who have the same vision combating the Global Warming. In May this year, HSBC Group committed a five year partnership worth US$100 million programme with The Climate Group, Earthwatch Institute, Smithsonian Tropical Research Institute (STRI) and WWF as respond to the urgent threat of climate change world-wide. This morning’s tree planting, ‘GO GREEN’ is definitely something we do to realize our ambition in local market.”

Hitesh Chhaya, Chairman of Yayasan Tanam Pohon Indonesia, said: “In line with the Yayasan’s goal to create awareness of climate change and its implications, today’s event, ‘GO GREEN’ is an effort to raise awareness about our individual responsibility in planting trees.  Every minute, we are losing one football-field-size of rainforest, accelerating the process of global warming.  From draughts to flooding, the effects of climate change are enormous and immediate, making global warming a pressing concern for the world community to address. I am so thrilled to see everyone’s effort today to take part in fighting global warming.”

‘GO GREEN’ is coordinated by Yayasan Tanam Pohon Indonesia in corporation with HSBC as the Main Sponsor, partnering with Sentul City and KNPI. Yayasan Tanam Pohon Indonesia is also planning to similar program to celebrate Earth Day on April 22, 2008 wherein one million trees will be planted in one this day.  In the last planting event, the Yayasan planted 3,300 trees at Mega Mendung, Bogor.

Yayasan Tanam Pohon Indonesia, was formed in April 2007. It also facilitates individuals and organizations in taking action!  Its objectives include:
- Forestation Projects / Green Spaces in cities
- Educational programs and awareness campaign
- Developing tree nurseries

For media inquiries, please contact :

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

first Bali Dining Festival LAUNCHES IN AUGUST 2007
 

Brought to you by HSBC the festival features Bali’s top restaurants in an island-wide celebration of fine food.

The  Hongkong  and  Shanghai Banking Corporation Limited (HSBC), one of the region’s  leading  international banks, has teamed up with The Bali Tourism Board,  Bali  Hotel  Association,  Bali  Culinary  Professionals and Garuda Indonesia,  to  create  Bali’s  first major culinary event “The Bali Dining Festival 2007”.

Maurits  Klavert,  Head  of  Marketing  HSBC  Indonesia  said, ”We are very excited  about  this festival as its demonstrates a solid teamwork involving hoteliers,  restaurateurs,  the tourism  board,  airlines  and HSBC from banking sector,  all  hand-in-hand  to  improve Bali tourism and at the same time providing best offers to our customers”.
Featuring  the  very best restaurants in Bali across the culinary spectrum, from  Balinese  to  Japanese,  from  French  to  Chinese, the participating restaurants  have  two  things  in  common:  exceptional cuisine and a true Indonesian dedication to service.

The program, for the whole month of August, consists of four interrelated parts: the main section – The Passport to Delight - allows visitors to experience special menus at all participating venues.  The Culinary Safaris take  guests on a tour of three or four restaurants with ‘starters’ in one, main  courses in the next and dessert in the last! The Chefs Master Classes allow visitors to learn to cook in some of the best chef’s kitchens and last but not least, the festival finishes with island-wide Gala Dinners on 31st August!

All  HSBC  Gold  and  Platinum  card members as well as Premier credit card members  will get special discounts at participating restaurants making the festival  even  more  enjoyable.  “This is truly as part of our continuous attempt to always bring unique and value added programs to our loyal customers,” adds Klavert.

In addition to that, special discounts at other restaurants for Garuda passengers make the whole program outstanding and affordable.

With information and bookings available at all 74 Bali Hotels Association member hotels and all participating venues, as well as through Bali Tourism Board, the Festival’s pleasures should not be hard to experience.  And with over 25 venues participating there’s no need to fear that any restaurant may be fully booked, there are many to choose from.

Organised by The Bali Dining Festival Committee, comprising representatives from Bali Hotels Association, Bali Tourism Board, Bali Culinary Professional and Sphere Creative Communications, the Bali Dining Festival has been created to support Bali Tourism Board and Bali Hotels Association’s efforts to promote Bali as Asia’s  top multi-facetted destination, with every possible attraction for today’s modern  traveler, now introducing superb dining to add to Bali’s other well known cultural delights.

A voluntary contribution by diners to pay for scholarships for young Balinese chefs through the Bali Culinary Professionals, adds a real element of social responsibility to the event, and a poll of diners to discover Bali’s best dishes will uncover some culinary gems.

For media inquiries, please contact :

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

HSBC EXPANDS ATM NETWORK THROUGH ATM BERSAMA
 

Hongkong and Shanghai Banking Corporation Limited, together with PT Artajasa Electronic Payment (Artajasa) launches a joint cooperation to expand the ATM service between HSBC and ATM Bersama network. Through this cooperation, HSBC’s customers can enjoy the service in more than 11,200 ATM machines across Indonesia. The launch is attended by Rakesh Bhatia, CEO HSBC Indonesia, Rusli Sutanto, Senior Vice President Personal Banking and Arya Damar, President Director   Artajasa.

Rakesh Bhatia, CEO HSBC Indonesia said, “ It is our commitment to always provide the best services for our valued customers and we are delighted that this cooperation will enable our customers to have a better access to ATM services that they need. Understand the characteristics of our customers, especially those who are very mobile, it is very important for to have many access to our services. ATM services can always be an alternative solution for their banking needs.”

He added that one of the important considerations behind this cooperation is on the strong network of ATM Bersama, where it is widely spread in more than 11,200 ATM machines throughout Indonesia. This is very important for our customers, especially for those who value easy access and comfort as their main priority.“With HSBC joining the ATM Bersama network, it is a real evident of Artajasa’s commitment in creating national efficiency in the IT expenditures and Banking sector,” said Arya Damar, President Director of Artajasa.

For further information, please contact:

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

PT. Artajasa Pembayaran Elektronis:
Aries Barkah
Business Strategy Group Head
Menara Thamrin 6th Fl – Jl MH. Thamrin Kav. 3
Jakarta 10340
Telp. 021-39830040 ; Fax.  021-2303889
HP : 0815 1618 045
e-mail: aries.barkah@artajasa.co.id

ASIA’S SMALL BUSINESSES IN BUOYANT MOOD
HSBC SME SURVEY, LARGEST OF ITS KIND IN ASIA, SHOWS FIRMS EXPECT ECONOMIC GROWTH
 

Small businesses across Asia expect good times ahead, according to a survey commissioned by The Hongkong and Shanghai Banking Corporation Limited.

The HSBC Asia-Pacific Small Business Confidence Survey, by ACNielsen, conducted in the first quarter of 2007, covered 1,800 small and medium-sized enterprises across nine countries and territories: Hong Kong, mainland China, Taiwan, Singapore, India, Korea, Malaysia, Indonesia and Australia.

Firms were asked about their local economic outlook, whether or not they plan to invest and recruit as well as their views about trade volumes with mainland China, the rest of Asia and the rest of the world (summary tables and slides attached).

Khuresh Faizullabhoy, Head of Commercial Banking HSBC Indonesia, said: “This survey was conducted because small businesses are at the center of HSBC’s strategy and we are keen to understand the circumstances that shape their business directions. Prospects in the global economy are fueling SME ambitions and we are well-positioned to support their domestic and international needs”.

Economic outlook view
Indonesian SMEs are included as optimistic on economic outlook after India, mainland China and Singapore (slide 10). 84 per cent of Indonesian SME respondents are generally positive about the economic outlook for the territory with expecting the economy to grow at the same pace (29%), moderately faster (30%) or significantly faster (25%) than the economic growth rate in the first quarter of 2007.

Investment expectations
Indonesian SMEs, with 64% have plans to expand their businesses, are the most optimistic SME about investment expectations, followed by SMEs in mainland China, Australia and Singapore (slide 11).

Recruitment expectations
SMEs in mainland China are the most optimistic about recruiting more workers, followed by Indonesia, India and Singapore (slide 12). The majority of Indonesian SMEs (47%) do not plan to change their headcount in the year. However, 22 per cent of Indonesia SMEs plan to increase headcount by less than 10 per cent and 22 per cent expect to increase headcount by more than 10 per cent. A small minority of eight per cent expects to reduce headcount.

Trade outlook: China and rest of Asia
Small businesses that engage in cross-border trade were asked about their expectations of trade volumes with mainland China, rest of Asia and the rest of the world. SMEs in India, Singapore and Indonesia are the most optimistic about growing trade with mainland China and rest of the Asia (slide 13 & 14). 35 per cent of Indonesian SMEs expecting cross-border trading volume to grow at the same space, 28 per cent expecting moderate growth, and 35 per cent expecting significant growth and only two per cent expecting reduced trade with mainland China. In terms of trade with the rest of Asia, Indonesian SMEs are most optimistic about intra-Asia trade, with 72 per cent expecting faster growth in trade with rest of Asia (26 per cent trade with the rest of the region to pick up moderately and 46 per cent expect it to grow significantly).

Trade outlook: rest of world
SMEs in India are also amongst the most optimistic about growing trade with the rest of the world, along with SMEs in Korea and Malaysia (slide 15). Indonesian SMEs are generally positive about the trade outlook with the rest of the world with 20 per cent expecting moderate growth and 41 per cent expecting significant growth.

Commenting on the positive Indonesia results, Mr Faizullabhoy said: “It was most pleasing to see that Indonesian SMEs are optimistic on economic outlook and the most optimistic about investment expectations and about intra-Asia trade. This is good news since SMEs are a very good barometer of economic health as they are big job creators and form an important critical part of the economy. Their optimism therefore is truly a clear reflection of the economic growth”.

For more information, please contact

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

FUND FLOWS MOVED TO GLOBAL EQUITIES, SAYS HSBC SURVEY

A recent survey conducted by HSBC on its ten partner fund houses1 showed that at the end of the first quarter of 2007, their funds under management (FUM) had reached US$4.3 trillion, representing a 3.07% growth (US$128 billion) from the previous quarter. Equity funds grew by 47.3% while bond funds grew 41.9% from fourth quarter 2006 to first quarter 2007.

Equity funds took up the largest slice in FUM (40%), reflecting the continued activity and strong sentiment in the booming equities market in the first quarter. The second largest portion was bond funds (25%), followed by money market funds (17%), balanced funds (11%) and other funds (7%).

HSBC conducts the above survey on a quarterly basis among its partner fund houses with a view to obtaining a better understanding of the global liquidity flows and the dynamics of global asset allocation. The survey is unique as it does not only reflect individual fund managers’ views but reports a consolidated view. In addition, HSBC calculated the net fund flows by taking away the impact of market movements to derive a picture of investor activity in the global investment scene.  With this information, HSBC hopes to help customers and the general public make their own informed investment choices.

As in the survey results of the third and fourth quarters of 2006, the US and Europe continued to be dominating destinations for equity and bond investments in the first three months of 2007. North America topped the league table for regional equity funds (44%) followed by Europe (including UK) at 28%. For regional bond funds, US bonds took up the largest proportion at 85% while Europe (including UK) had 10%.

Positive net fund flows in the first quarter of 2007 were evident in global equity funds (8.6%), US equity funds (3.9%) and European equity funds (1%).  On the other hand, Japan equity funds (-2.2%) and emerging markets equity funds (-2.8%) posted negative fund flows.

For bonds, the biggest flows were seen in high-yield/emerging markets bonds posting a 13.4% positive inflow. European bonds and global bonds also recorded positive flows of 2.5% and 1.6%, respectively.  US bonds had a negative fund flow of -0.9%.

Bruno Lee, HSBC’s Head of Wealth Management, Personal Financial Services Asia-pacific said, “Early this year, the world equity market saw a correction, triggered by the sell-off in the China market. Emerging markets were also affected, leading to a shift of flows into global equities as investors redirected funds to more mature and diversified markets.”

The survey also asked fund managers what asset allocation strategy they would adopt in the second quarter of 2007. All respondents held an overweight position towards Greater China equities (up from 80% in 1Q07).  Seventy-five per cent voted to overweigh European equities (vs 63% in 1Q07) and 88% Asian equities excluding Japan equities (vs 75% in 1Q07). Forty-three per cent underweighed European bonds while keeping their views neutral on US bonds (42%). Similarly, High yield/Emerging market bonds received a neutral rating from over half of the fund managers as they found this asset class overpriced despite strong fundamentals.

“Fund managers hold a positive view on the Greater China equity market. As most fund managers have limited access to China’s A-share, their unanimous view on China’s equities refers mostly to their consideration of Greater China equities including overseas China stocks.  Fund managers tended to hold a neutral view on US bonds given mixed views on US outlook despite strong corporate earnings”, added Lee.

Fund managers kept their preference to cash over bonds as they continued to underweigh bonds (74%) and overweigh cash (50%).  This reflects the intention of the fund managers to wait for a clearer picture in interest rate movement and allow for flexibility in the event that alternative investment possibilities arise.

For more information, please contact

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

HSBC LAUNCHES eTax plus

Today, HSBC officially launched the eTaxplus solution for corporate customers in Indonesia. Through eTaxplus customers can now complete and submit their tax payments like Income Tax, Value Added Tax, Import Tax, Export Tax, Stamp duty and Tax duty for luxury items electronically to HSBC. The system is fully integrated with the respective tax department making this solution efficient both from the customer as well as from the tax department perspective.

Sunil Veetil, Head of Global Payments and Cash Management, HSBC Indonesia said: “We are pleased to add one more cost effective product to our wider Integrated Payments Solutions set. Sometimes simple products can bring enormous benefits to our customers and eTaxplus is one such product. True to its commitment of World’s Local Bank, we listened to our customers’ feedback and worked with the tax departments before we developed this solution locally”.

Vincent C. Sugianto, Head of Trade Services, HSBC Indonesia said: “eTaxplus will strengthen Trade Services proposition whereby HSBC fully understands the complicated administration needs of our customers while in preparation of their export/import tax payment. eTaxplus is developed to speed up our customers’ process and at the same time make it more cost efficient. This will enable our customers to focus more on their core business.”

Paying various taxes in a timely and accurate manner is critical and currently this is a cumbersome process as most of the customers do this manually. This manual process is quite resource intensive and is prone to errors as it requires the customers to fill the complex tax forms manually, visit the bank to make payments and submit the tax forms and then wait for the tax forms to be processed. This process can become tedious especially when the customers leave it for the last minute to make these statutory payments

Through eTaxplus, customers now able to submit the forms electronically to HSBC, which is then directly integrated with the respective, tax department thus making the submission seamlessly faster and error free. Customers can save the form as a template thus avoiding the need to retype every time. The system is highly secured thus ensuring the confidentiality and privacy of the tax information.

During the soft launch of the solution, HSBC’s eTaxplus was named as one of the innovative products in South East Asia region by The Asset Magazine’s annual Triple A Transaction Banking Awards 2007

 

For more information, please contact

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

HSBC LAUNCHES THE 10TH EDITION OF HSBC’S GUIDE TO CASH AND TREASURY MANAGEMENT IN ASIA-PACIFIC

The Hongkong and Shanghai Banking Corporation Limited today launched HSBC’s Guide to Cash and Treasury Management in Asia Pacific 2007 with the theme “Best of Breed Cash Management. Bringing it all together. Products. People”. The launch event was attended by 300 customers.

The Guide to Cash and Treasury Management is the only publication of its kind, bringing together 70 top industry experts from 18 countries and territories in tax, foreign exchange, securities, law and technology. It has been documenting the evolution in the cash management industry for the last decade.

Richard Jaggard, Regional Head of Sales, HSBC Global Payments and Cash Management said: “We have witnessed the dramatic rise of Asian multinational companies, expanding their corporate treasury operations to cope with their growth in Asia-Pacific and around the world.  As the global economic centre of gravity shifts eastward, these big businesses are also seeing their SME suppliers are growing with them. HSBC is well placed to provide innovative cash management solutions to enhance competitiveness at both ends. This 10th edition of HSBC’s Guide is a living testimony of the evolution of cash management in Asia-Pacific and HSBC is well placed to provide innovative cash management solutions to enhance competitiveness for rapidly growing companies in Indonesia”.

Sunil Veetil, Head Payments and Cash Management Indonesia, added that HSBC’s innovative cash management solutions in Asia are supporting that growth. Notably in Indonesia, ETaxPlus, an electronic tax form (SSP) submission was recently recognized by The Asset Triple A Transaction Banking awards as a key innovative solution in awarding HSBC the Best Cash Management Bank in Southeast Asia.

The guide features a brand new section on supply chain management, as well as special sections in India, China, and for the first time, Korea. HSBC Manager, Dewi Damayanti, demonstrating how HSBC really understands the market, writes one of the articles ‘Cash Management in Indonesia’ under the Country Analysis section.

For more information, please contact

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

BANK WITHOUT BORDERS WITH HSBC’s NEW PREMIER SERVICE

HSBC has launched the first truly global personal wealth management service for the growing number of mass affluent around the world. HSBC Premier offers customers the ability to move around the world without changing the way they bank. The new HSBC Premier provides a seamless international banking experience to customers who work or live overseas or have international banking needs, through a range of products and services that make full use of HSBC’s international expertise.

The enhanced Premier will make it easier for customers to transfer their credit history when moving abroad in order to obtain credit facilities in another country. Customers may also enjoy pre-approved loans for overseas property purchase as well as pre-approved Premier credit cards offering access to an extensive range of local shopping, dining and hotel privileges and discounts when they travel overseas.
 
Richard McHowat, former CEO of The Hongkong and Shanghai Banking Corporation Limited, said: “HSBC Premier is the first example of a truly global mass affluent banking service that offers international recognition as well as innovative products and services. Their numbers are growing and their needs evolving. These customers are increasingly internationally-oriented, sophisticated and knowledgeable. HSBC Premier is designed to help them exploit opportunities locally and overseas, to grow wealth, achieve financial security and enjoy the exclusive and exceptional rewards of their success and hard work.”

Customers can enjoy the following HSBC Premier services :

Credit history transfers between countries and territories, making it easier to open bank accounts and apply for other services such as credit cards, home loans, etc.

A Premier customer in any one country is automatically entitled to join Premier in other countries/territories with the minimum entry requirements waived.

Arrange the opening of overseas HSBC accounts free of charge at the International Banking Centre prior to departure

A wide range of local shopping, dining, hotel and recreational privileges and discounts are available when customers travel overseas through HSBC’s home&Away programme.

Pre-approved limit for overseas property purchases up to 60% Loan-To-Value ratio (subject to local regulations on mortgage services).

Access to a 24-hour worldwide emergency service, which can provide credit card replacement and emergency cash.Free fund transfers online to their own named accounts.

Premier customers can also walk into any of the 250 Premier Centres around the world, which have been redesigned to carry a contemporary look and feel across 35 countries and territories. The new HSBC Premier indigo branding represents a fresh approach to premium banking, attuned to the changes in the needs and modern taste of the Bank’s most valued customers. Through the re-branded Premier outlets, customers will receive the same high quality, personalised service as they would in their home country or territory with the help of 4,000 highly trained relationship managers and 2,500 support staff.  In Indonesia, customers have access to 12 Premier Centres, with more than 70 relationship managers who are dedicated solely to serving Premier customers.

To celebrate the New Premier service, Premier customers will enjoy a host of special offers and benefits including bonus rate for Rupiah Time Deposit up to +10% higher than regular deposit for new rupiah deposit account from May 4 until July 31, 2007; special privileges from Premier credit card as well as invitation to series of events from movie preview to wealth management seminars in 5 cities in Indonesia; comfortable travel facility at immigration, access to exclusive airport lounges around the world and VIP services in Singapore and Hong Kong and other attractive offers from Premier MasterCard. 
 

For more information, please contact

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

Fortis Investments and HSBC Amanah Syariah  to Launch Fortis Pesona Amanahs

PT. Fortis Investments today launches Reksa Dana Syariah Fortis Pesona Amanah (“Fortis Pesona Amanah”) in collaboration with HSBC Amanah Syariah . Fortis Pesona Amanah concentrates its investments in Sharia-compliant stocks but may also invest in Sharia-based debt securities as well as Sharia-based money market instruments.

“ The uniqueness of this equity fund is its ability to provide an opportunity for investors to invest long -term in Sharia-compliant securities using the same proven investment methodology applied to our award-winning equity funds,” stressed PT. Fortis Investments President Director Eko P. Pratomo during the launch of the product. "Through this fund, in the long run investors will benefit from the growth of Indonesia's economy", he added.

"HSBC Amanah’s collaboration with leading institutions, like Fortis Investments will promote innovation and growth in the Sharia financial market in Indonesia," said Mahmoud Abushamma, Senior Vice President - Head of HSBC Amanah Syariah in Indonesia. "With more than a hundred professionals serving the Middle East, Asia Pacific, Europe and the Americas, HSBC Amanah represents the largest Islamic banking team of any international bank. HSBC Amanah aims to import this accumulated experience to Indonesia. Being the most recent member to the Amanah family, Indonesia stands to gain considerably from this considerable knowledge,"

“We are pleased to be working together with HSBC Amanah Syariah as our partner in developing Sharia-compliant investment products to fulfill investors’ growing demand in the market. This collaboration between Fortis Investments, a leading international Investment Manager, and HSBC Amanah Syariah , a highly reputable global bank, could serve as a milestone for the development of Sharia industry in Indonesia ,” said Eko.

“ PT. Fortis Invest ments will continue its commi tment to provide high quality service to its clients through product innovation as well as education on mutual fund investment ” closed Eko.  
 
 

For more information, please contact

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

HSBC Donated IDR 90 Million for PUSKESMAS Renovation at Rawa Buaya Areas

As the continuation of its Flood Relief Programme for Jakarta’s flood, February 2007, HSBC donated IDR 90 million for the renovation of Community Health Center  (PUSKESMAS) at Rawa Buaya area.

 “We hope the donation can be meaningful for the Rawa Buaya community. The contribution is part of our Corporate Social Responsibility (CSR) programme, which is called HSBC KITA. We look forward to be able to participate in the effort to rebuild The Capital City of Jakarta, in particular after the devastating flood, happened few months ago,” said Agung Laksamana, SVP Marketing Communication & Public Affairs HSBC Indonesia.  

More than 50 HSBC staff voluntarily joint the event by helping to paint and clean up the PUSKESMAS. The effort was lead by Agung Laksamana and witnessed by the representative of West Jakarta Mayor, The Head of Health Services Department West Jakarta, and USAID (United States Agency for International Development).

“With the help from HSBC, this PUSKESMAS can now be fully operated and serve more than 70 patients every day. The various facilities offered include family planning, mother and child health services, children nutrition and dentition, “ said Dr. Hj. Rr.Ariani Murti, Director of Heath Services West Jakarta.

The recent flood that struck Rawa Buaya area on the 3rd of February can reach up to 2 meters; severely damage almost 90% of clinic facilities, including clinic’s furniture and patient record cards.
This donation programme is the result of joint cooperation between HSBC and USAID, which has been supporting the health offices in doing community health services, additional to their regular maternal, newborn, and child health programmes.

For more information, please contact

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

HSBC and pertamina awarded indonesia deal of the year and trade finance deal of the year by islamic finance news

Islamic Finance News (IFN) awarded Pertamina and HSBC Amanah Syariah with two awards "Indonesia Deal of The Year" and "Trade Finance Deal of The Year" for the US$200 million international Syariah syndication. This syndication was a follow up to Pertamina's successful first US$322 million International Syariah syndication in 2004 - the first and largest international Syariah syndication to come out of Indonesia.

With this deal Pertamina is tapping both Islamic and conventional markets to finance its requirements. This deal does not only confirm Pertamina’s ability to tap into global financial markets but also demonstrates the ability of Syariah products to deliver highly structured solutions for Corporates in Indonesia at a competitive price.

The entrance of new set of foreign investors from the Middle East reflects a turning point for Indonesia and bodes well for the prospect of increasing Foreign Direct Investment (FDI) from a previously untapped source.

As the first foreign bank to establish a Syariah unit in Indonesia, HSBC is proud to bring this landmark deal to the market.  Through HSBC Amanah’s strong distribution channels in the Middle East, the syndication has been over-subscribed and indeed represents an important milestone in the Indonesian Syariah banking market and reflects our strong commitment to Syariah business.  This syndication will certainly be seen as a welcome act of faith in this country’s future.  We are extremely hopeful that this transaction will encourage acceleration in the pace of change in the regulatory environment for the Islamic financial markets.

The Syariah Sub-Branch was officially opened in October 2003. One of HSBC Amanah Syariah’s business is to focus on the Corporate and Institutional sectors providing structured finance capabilities and debt capital markets advisory services. To ensure the highest standard of product offering, three esteemed scholars act as independent advisors to HSBC Syariah.

For more information, please contact

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

PINJAMAN HSBC LAUNCHES BADMINTON DEVELOPMENT PROGRAM UNDER SUPERRVISION OF RUDY HARTONO

Pinjaman launches badminton development program to develop sport activities and badminton in indonesia. The programme worth IDR 2 billion investment in 2007 and IDR 3 billion in 2008 will be undertaken under supervision of the legend bandminton athlet, Rudy Hartono. The launching ceremony was attended by Stephen K Green, Group Chairman HSBC Holding Plc; Richard McHowat, former CEO HSBC Indonesia, Ravi Sreedharan, Head of Personal Financial Services HSBC Indonesia, Vivek Agarwal, Senior Vice President Consumer Finance HSBC Indonesia and Rudy Hartono.

Richard McHowat, former CEO HSBC Indonesia, said: “It is our vision at Pinjaman HSBC to become the trusted partner for people of the middle/lower socio economic strata in progressing towards a better quality of life. Furthermore, we would also like to contribute something to our community by providing assistance in maintaining their health through educational program and sport activities”.

Rudy Hartono, the legend badminton athelete, said: “I am very excited to work together with Pinjaman HSBC in badminton development programme. HSBC and badminton shares the same traits of hard work, discipline, fairness and integrity. Through this programme, we will create ‘Youth Talent Scouting and Development Center’ in each city in order to find new talents and potential badminton player around Indonesia, we will then groom them at at Pelatnas, Cilangkap so they can become world class badminton player”.

Pinjaman HSBC is a personal loan product, which targets under served consumer market. Some advantages that the product offers are, amongst others, easily accessible locations, transparency in loan calculation, and trouble-free application process. Apart from that, HSBC also partners with PT Pos Indonesia to enable customers clearing their loans in all PT Pos’ first and second-class branch offices.

For more information, please contact

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id

HSBC Amanah Wins Top Five Awards from Euromoney


Mr Razi Fakih, Acting Chief Executive Officer, HSBC Amanah receiving the Best International Islamic bank award from Euromoney

HSBC Amanah, the global Islamic financial services division of the HSBC Group, has been named Best International Islamic Bank, the Best Sukuk House and Best Project Finance House by Euromoney Magazine in its 2007 Islamic Finance Awards. In addition, two deals lead managed by HSBC Amanah was awarded the accolade of Best Sukuk deal and Best Project Finance Deal. The awards were announced on 30th January during a function held at the Royal Garden Hotel in London.

HSBC Amanah was awarded the Best International Islamic bank award for being the leading provider of Islamic financial products and services across the world. It has been at the forefront of developing Islamic finance through the provision of innovative solutions to meet client needs supported by a team of nearly 150 dedicated professionals across 20 Muslim-majority countries, including Brunei, Bangladesh, Indonesia, Malaysia, the Middle East, Pakistan, Singapore and Turkey.

"HSBC Amanah is pleased to receive these prestigious awards which recognise the outstanding contribution of employees, clients and partners across the world. The aggregate value of international transactions undertaken by HSBC Amanah in 2006 was in excess of US$9 billion. This year we are delighted to have won in addition to these five Euromoney Awards, 18 other awards from various other leading publications," said Razi Fakih, Acting Chief Executive Officer, HSBC Amanah.

HSBC Amanah was also awarded the Best Sukuk House for bookrunning the most number of issues in 2006, the innovative structuring and the highly successful execution of these Sukuks.
Khazanah Nasional's US$750 million Exchangeable Islamic Securities -the first-ever Shariah compliant exchangeable securities transaction and the largest ever equity-linked issue out of Malaysia. won the Best Sukuk Deal. HSBC Amanah was a joint lead manager and book runner on the deal.

The US$ 600 million Islamic finance facility for the Rabigh Refinery and Petrochemical Project was awarded the Best Project Finance deal. This financing was a pioneering transaction in the Kingdom of Saudi Arabia and has been used as a template for subsequent Islamic project financing. HSBC Amanah was the Islamic Financial Adviser to Saudi Aramco and Sumitomo Chemical on the deal.

"HSBC Amanah's innovative application of Shariah principles in all the products and services it offers has led to its ongoing success. Since inception HSBC Amanah has been involved in numerous project finance transactions to date by quantity and quality; the aggregate value of project finance transactions undertaken by HSBC Amanah is US$4.88 billion," added Razi, for being awarded the Best Project Finance House.

In year 2003, HSBC launched HSBC Amanah Syariah, which made HSBC to be the first foreign bank with its Syariah Unit in Indonesia. Acknowledged as one of the pioneer in the development of Islamic financial industry in Indonesia, HSBC has done two Structured Trade Finances for PT Pertamina (Persero) with total value US$322 million (2004) and US$200 million (2006). These two facilities were recognized as the biggest Syariah financing for Indonesia until this moment and have been successfully introducing Indonesia to the Middle-east investors. 

The US$200 Structured Trade Finances for PT Pertamina (Persero) has recently granted as Indonesian Deal of the Year and also Trade Finance Deal of the Year for period 2006 by a leading international islamic financial media, Islamic Finance News, in their 2006 Islamic Finance Award. The award hand over will be held at Kuala Lumpur, Malaysia, 28 March 2007. 

For more information, please contact

Andrew Hallatu
+6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id