HSBC Wins The Cash Management

The world's local bank

HSBC WINS THE CASH MANAGEMENT MANDATE FOR PT. LAUTAN LUAS TBK

HSBC Indonesia signed a cash management agreement with PT Lautan Luas Tbk (Lautan Luas). The bank has been appointed to provide Cash Management services to one of the biggest basic and specialty chemicals manufactures and distributors in Indonesia. The agreement between two parties was symbolically signed by Sunil Veetil, Head of Global Payments and Cash Management HSBC Indonesia, and Herman Santoso, Operations and Support Director of PT Lautan Luas Tbk, on the signing ceremony event held today in Jakarta.

Sunil Veetil said “It is a great honor for us to be in partnership with Lautan Luas. We offer an all-in-one service to help them maximize their overall cash management process by providing an end-to-end cheque solution. This process starts from picking-up the cheques, warehousing them, having them cleared in the clearing system, crediting the good funds to their operating account, and also providing comprehensive reports”

As leading company in basic and specialty chemicals industry, Lautan Luas runs 5 branches across Indonesia, a number of offshore subsidiaries as well as over 2,000 industrial clients with various payments and collections needs, one of which is cheques collections. Handling cheques requires comprehensive information management and a timely deposit to ensure positive cash flow management.

HSBC offer to PT Lautan Luas is Cheque collection solution as part of HSBC’s Integrated Receivables Solutions. It will help PT Lautan Luas in managing their due-dated and post-dated cheques collections, including cheque pick-up service, warehousing service for post-dated cheques across HSBC Branches, and also comprehensive reports, consisting of maturity date, clearing status and cheques fund availability. The information will be available for PT Lautan Luas in the reports to manage their cash flow by forecasting their funds availability. To further streamlining the reporting process, HSBC also offers online enquiry via HSBC’s global internet banking platform, HSBCnet, which will be integrated with Lautan Luas’ back-office system.

Herman also noted “As a major player in this industry, with subsidiaries spread across the Asia Pacific region, we will continuously expand our business throughout Indonesia and the region. For this, we need a banking partner with a global footprint who can meet our current and future banking needs. HSBC helps us in handling our cheques collections, making us possible to forecast and also monitor our cheque funds availability through the online enquiry function and the comprehensive reports generated. We are looking forward for a continuous support from HSBC in the upcoming years.”

***

For further media enquiries please contact:
Devi Kusumaningtyas +6221 3040 5394/ 0817 9947 935 or email to: devikusumaningtyas@hsbc.co.id

Notes to editors:

1.	The HSBC Group
	The HSBC Group is one of the largest banking and financial services organizations in the world. The Group has about 9,500 offices in 85 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa, serves over 100 million customers and has assets of US$2,547 billion at 30 June 2008.

2.	HSBC in Indonesia
	HSBC has operated in Indonesia since 1884. It now provides personal financial and corporate banking services through 115 outlets, spread through out 10 major cities: Jakarta (World Trade Centre, Pondok Indah, Kebon Jeruk, Sentral Senayan, Pluit, Kelapa Gading, Mangga Dua, Wisma 46, Melawai, Sunter, BSD, Gajah Mada, Plaza Kuningan, and Talavera), Surabaya, Medan, Bandung, Semarang, Solo, Batam, Bogor, Tangerang, and Depok. HSBC is a leading provider of personal financial services, corporate, commercial banking, institutional banking, treasury capital markets and Amanah Syariah services in Indonesia

3.	HSBC Global Payments and Cash Management
	HSBC Global Payments and Cash Management is a leader in the provision of cash management services to Fortune 500 multinational companies, top-tier local corporates, middle market companies, SMEs, financial institutions and government bodies. The team is committed to thought leadership and a consultative approach to cash management. In addition to a continued investment in products and services, HSBC prides itself on developing and sustaining long term relationships with clients and delivering the highest level of customer service at both the regional and local levels.

4.	PT Lautan Luas Tbk
	Established in 1951, PT Lautan Luas Tbk is a distributor and manufacturer of specialty and basic chemicals. The Company’s distribution coverage has grown to extend well beyond Indonesia. In Indonesia itself, distribution points include five branches and six representative offices, while its international markets is overseen by the Company’s regional subsidiary in Singapore, and regional representative offices in China, Thailand and Vietnam. To date, the Company’s Indonesian manufacturing plants include eleven subsidiaries and six affiliate factories. Regionally, the Company has developed a manufacturing presence in China where it has participated in the establishment of three manufacturing facilities. By the end of the year, the Company’s first manufacturing plant in Vietnam will come on line