Hong Kong, Hong Kong S.A.R., July 29, 2013 --(PR.com
)-- 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 cross-border environment.”
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.
Reval is a leading, global Software-as-a-Service (SaaS) provider of comprehensive and integrated Treasury and Risk Management (TRM) solutions. Our cloud-based software and related offerings enable enterprises to better manage cash, liquidity and financial risk, and includes specialized capabilities to account for and report on complex financial instruments and hedging activities. The scope and timeliness of the data and analytics we provide allow chief financial officers, treasurers and finance managers to operate more confidently in an increasingly complex and volatile global business environment. Using Reval, companies can optimize treasury and risk management activities across the enterprise for greater operational efficiency, security, control and compliance. Founded in 1999, Reval is headquartered in New York with regional centers across North America, EMEA and Asia Pacific.