The FINANCIAL -- The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) (President: Nobuyuki Hirano) is pleased to announce that its subsidiary, Bank of Tokyo-Mitsubishi UFJ (Malaysia) Berhad (BTMU Malaysia), has recently signed a Memorandum of Understanding (MOU) with Iskandar Regional Development Authority (IRDA) in Kuala Lumpur, with the purpose of developing collaborative efforts in promoting investments from Japan to Iskandar Region.
IRDA was established in 2007 as a Malaysian regulatory authority mandated to plan, promote and facilitate the development of Iskandar Malaysia into a strong and sustainable metropolis of international standing, according to Bank of Tokyo-Mitsubishi.
Under its “Vision 2020” long-term development plan, Malaysia aims to be recognized as a developed country by the Year 2020. As part of this long term development plan, a total of six large scale projects were initiated. The Iskandar development region is one such project that when completed, is expected to be a key economic driver for Malaysia. Given its close proximity to Singapore and warm bilateral ties between the two governments, the Iskandar Development region has since attracted close to 382 billion ringgit of investments during this development plan.
BTMU Malaysia was established in 1957 and has a 58-year track record primarily providing banking services to Japanese and Malaysian corporations. In 2008, BTMU Malaysia became the first Japanese bank to provide the Islamic financial products and services in Malaysia. BTMU Malaysia provides a range of product and service to meet its customers’ financial needs globally.
Through this MOU, BTMU Malaysia aims to contribute further to the promotion of foreign direct investments and provide stronger support to its customers exploring possibilities of investing or expanding into Iskandar Malaysia by proactively providing potential investors with the relevant information on its business environment and investment opportunities.