HSBC: No, we're not closing Malaysian operations

13 Feb 2017 / 05:38 H.

    PETALING JAYA: HSBC Bank Malaysia Bhd has denied rumours that it is closing down its Malaysian operations amid news that HSBC Holdings PLC is cutting around 100 senior investment banking jobs globally.
    “There’s no truth to it,” a HSBC spokesperson told SunBiz, adding that the bank does not respond to such speculation and that this is not the first time that such talk has emerged.
    Rumours of HSBC’s closure in Malaysia are being circulated on social media, citing losses of billions of dollars globally and that HSBC is “likely to close down like Lehman Brothers”.
    It was reported that the latest round of cuts comes as HSBC bankers in its London headquarters face uncertainty as the lender prepares for expected disruptions caused by Britain’s impending exit from the European Union.
    HSBC will be releasing its FY16 financial results on Feb 21, 2017.
    HSBC Bank Malaysia is a member of HSBC Group and employs more than 4,000 people. HSBC has a network of more than 60 branches in Malaysia, of which a third are HSBC Amanah Malaysia Bhd (Islamic) branches.
    HSBC Bank Malaysia offers personal financial services, commercial banking, global banking and markets, takaful (Islamic insurance) and Islamic financial solutions.
    HSBC companies in Malaysia include HSBC Amanah Malaysia Bhd, HSBC Amanah Takaful (Malaysia) Sdn Bhd, HSBC Sales and Services Malaysia Sdn Bhd, HSBC (Malaysia) Trustee Bhd and HSBC Electronic Data Processing (Malaysia) Sdn Bhd.
    HSBC’s presence in Malaysia dates back to 1884 when Hongkong and Shanghai Banking Corp Ltd established its first office in the country, on Penang Island.

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