Friday 29 Mar 2024
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KUALA LUMPUR: United Overseas Bank (UOB) was named the Most Admired Asean Enterprise for Asean Centricity at the Asean Business Awards 2014 held in Singapore on Tuesday.

The Asean Business Awards recognise enterprises that have contributed to the growth and development of Southeast Asia. UOB is the only Singapore bank to be honoured at this year’s awards.

In a statement yesterday, UOB Group deputy chairman and chief executive officer Wee Ee Cheong said UOB’s long-term commitment to its clients in Southeast Asia had seen the bank grow from a small local bank in Singapore to a regional bank present in 19 countries and territories across the world.

“Over the last eight decades, we have come to appreciate the many opportunities and risks that businesses must manage in this diverse region,” he said.

“We have applied this knowledge and experience to actively help our customers seek business opportunities across Southeast Asia that deliver long-term, sustainable growth for the region.”

The bank has identified Myanmar as one of the key destinations to benefit from increased investment. According to the UOB Asian Enterprise Survey 2014, one in four Asian enterprises is looking to invest in that country.

Wee said more UOB customers are seeking opportunities in Myanmar because of the country’s large population of 60 million, untapped natural resources and strategic geographic position bordering China, India and Southeast Asia.

“Currently, a large proportion of foreign direct investment going into Myanmar is from Southeast Asia,” he added.

 

This article first appeared in The Edge Financial Daily, on November 13, 2014.

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