ASEAN capabilities and resilience, transition to net zero, and global Islamic wealth management
Maybank is hosting its annual investment conference, Invest ASEAN 2023, on 20-21 June 2023 with the theme “ASEAN Reboot: Reimagining the Future”.
Invest ASEAN 2023 has become a highly anticipated event that is curated based on Maybank’s M25+ strategic priorities. This year, the focus is on uncovering opportunities in ASEAN’s rising star economies, innovative corporates, capital allocation trends, Islamic wealth management (IWM), green industrialisation and AI technologies. The conference in its 10th year has evolved from serving investors and institutional and corporate clients to attracting high net worth individuals and family offices.
Maybank Group President & CEO, Dato’ Khairussaleh Ramli said, “Invest ASEAN affirms Maybank’s long-standing commitment to pre-eminence in thought leadership on the ASEAN Opportunity. One foremost Opportunity is that ASEAN has been the net beneficiary of the rechanneling of trades and investments and deepening of supply chains due to US-China tensions. The region is, however, not immune to the rising risks of global fragmentation and geopolitical conflicts. Businesses must be prepared to manage vulnerabilities and respond swiftly to new opportunities.”
“We are believers in the resilience of the region, and Maybank is committed to enabling clients wherever they are and supporting the evolution of their businesses. As part of our M25+ strategy, we are investing up to RM4.5 billion (SGD1.3 billion) over 5 years to accelerate the development of new capabilities in technology and talent, including regionalising digital platforms, all underscored by customer-centricity and sustainability-first practices.”
At the core of Maybank’s sustainability priorities is achieving carbon neutrality in Scope 1 and 2 emissions by 2030 and net zero carbon equivalent by 2050; plans are underway. Likewise in managing Scope 3, from its financed emissions baseline study, Maybank is already working with key clients to support their decarbonisation journey. About 70% of Maybank group’s financed emissions come from less than 100 customers from top contributing sectors such as power and utilities, oil and gas, agriculture and construction.
Dato’ Khairussaleh said, “We see a clear ASEAN Opportunity in the transition of these industries as they are key drivers of the region’s economies. The reshaping of their businesses will have far-reaching implications―new jobs, greener economies and just transition pathways, towards creating more equitable societies.”
“To support clients in their transition to net zero, Maybank has mobilised RM38.8 billion (SGD11.2 billion) of sustainable financing cumulatively from 2021 to end March 2023, and is well underway to achieving its target of RM80 billion (SGD23 billion) of sustainable financing by 2025.”
Maybank Investment Banking Group CEO, Michael Oh-Lau said, “We expect investments into renewables and other green technologies to continue accelerating this year and in the coming years in ASEAN, supported by sustainable debt financing.”
“With the ASEAN Capital Market Forum’s (ACMF) Sustainability-Linked Bond Standards in place, industries have greater flexibility in participating in the sustainable finance market. We can anticipate higher issuances of sustainability-linked and transition instruments in addition to the conventional green, social or sustainability instruments. We are at a pivotal point in the transition journey of ASEAN.”
A key strategic priority of Maybank is to achieve true global leadership in Islamic banking and Islamic capital markets. Globally the 5th largest Islamic bank by assets, Maybank has long been recognised as a leading Islamic finance thought leader and pioneer, and has been voted best Islamic Bank in Asia Pacific for the last 9 years.
Dato’ Khairussaleh said, “Our lever to grow the Islamic banking business is through global IWM. It is Maybank’s unique proposition aided by the large, growing Muslim population in ASEAN, and there are similarities between ESG investing and Islamic finance in intent and rigour.”
“Our ASEAN Opportunity for global investors is access to a wider suite of quality, ethical investments for portfolio diversification. Towards this, we will continue investing in building IWM capabilities and capacity in the right people, products and technology, as part of our M25+ plan.”
Maybank Singapore Country CEO, Dr John Lee said, “As a group, we shall leverage Malaysia’s strength, and build Singapore and Indonesia with our Singapore office as the IWM hub for Maybank to capture cross-border wealth management flows. Singapore is a major financial centre for intermediation of capital flows, and is increasingly seen as ASEAN’s green financing hub, accounting for over 50% of green financing activity in the region. In view of these trends, we are well-positioned to grow our IWM business which integrates both ESG and Shariah principles.”
Maybank continues to strengthen its thought leadership in ASEAN by providing macro and market views as well as ESG research for its clientele via its banking footprint across the region. Invest ASEAN 2023 in its 10th year is designed with the objective of creating a platform for the region’s major investors, high net worth individuals, family offices and corporates to experience engaging and revealing conversations, in one location for two days. For more info, please visit: https://www.maybank.com/investment-banking/asean/investasean/ia2023/index.html