(27 May 2024 – Singapore) Standard Chartered and Musim Mas have announced a new deal for a sustainable account to assist with their liquidity management needs.
The sustainable structured facility will be used to support Musim Mas, a Singapore headquartered palm oil company, with managing working capital mismatches across its Singapore entities to drive a higher level of efficiency across all its liquidity management functions.
Standard Charted originally launched the sustainable account in Singapore in 2022, and helps clients embed sustainability objectives into their cash management practices, which helps the British bank track its sustainability commitments.
“We’re proud to co-develop this industry-leading and award-winning solution with our client Musim Mas, to enable it to effectively manage its liquidity requirements, while also supporting the company to integrate sustainability considerations into their cash management” commented Standard Chartered Asia CEO Patrick Lee.
“This transaction is testament to Standard Chartered’s dedication to leveraging innovation when designing value-add solutions for our clients. We look forward to supporting more businesses to embed sustainability in their liquidity management.”
What impact will this have on the playing field for Asia Cash & Payments as the “Big Three” of Standard Chartered, Citi and HSBC fend off concerted challenges from Bank of China, BofA, DBS and JPMorgan?
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