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Corp News

Maybank Affirms Commitment with New 10-Storey Corporate Office in Cambodia

14 March 2016

4 min read

Launches Cambodia’s first Visa Debit Picture Card & Announces Eco Weavers Program


Maybank recently launched its new corporate office in Cambodia – the 10-storey Maybank Tower – symbolising the Group’s continued commitment to supporting the economic development in the country.


The building, located on Norodom Boulevard, the main commercial street in Phnom Penh, will house the entire operations of Maybank (Cambodia) Plc. as well as the main branch.


The Maybank Tower was launched by H.E. Dr Chea Chanto, Governor of the National Bank of Cambodia at an event hosted by Maybank Chairman, Tan Sri Megat Zaharuddin Megat Mohd Nor. Also present at the launch were key government officials, corporate leaders, clients and business partners, including the Ambassador of Malaysia to Cambodia, Datuk Raszlan Abdul Rashid and the Phnom Penh Municipality Governor, H.E. Pa Socheatvong.


In his welcome address, Tan Sri Megat said the establishment of a new corporate office in Cambodia was part of Maybank’s broader strategy to further strengthen its operations in the country as well as expand its regional footprint to become a leading banking group in Asia.


“The Maybank Tower is a testament of our success thus far and a beacon of hope for greater things to come. The Norodom Boulevard is one of the city’s most prominent and strategic location, and we are proud to be a landmark addition to Phnom Penh’s burgeoning skyline,” added Tan Sri Megat.


He said that with the establishment of the ASEAN Economic Community (AEC) last year, Cambodia will now be a gateway to not only its 16 million people but to more than 600 million people across ASEAN. “We believe that our efforts in evolving the nation’s financial industry and economy are in line with the AEC’s initiatives of promoting competitiveness and economic development.”


Maybank first established a presence in Cambodia with the opening of its Phnom Penh branch in 1993, which has now grown to 21 branches serving the needs of the domestic market as well as regional customers having business and investments in the country. It was locally incorporated in Cambodia in 2012 as part of its commitment to strengthen its presence in the country.


The Bank has grown at a steady pace in tandem with the rapid development in the local financial services industry and was recently awarded the Best Retail Bank 2015 and Best CSR Bank 2015 in Cambodia by Global Finance and Review. These awards acknowledged Maybank’s success in delivering business results as well as commitment in living its humanising mission.


New Visa Debit Picture Card to Celebrate Launch of Maybank Tower

To celebrate the launch of the new office building, Maybank also introduced Cambodia’s first-of-its-kind Visa Debit Picture Card, which allows customers to personalise their debit cards with pictures of their choice.


Attendees at the launch received a waiver of the USD12 fee and were rewarded with automatic participation in a Lucky Draw program to win USD100 cash. The Lucky Draw program is extended to all customers who sign up for the Visa Debit Picture Card by 30 June 2016.


The new card, part of Maybank’s efforts to bring innovative new products and services to Cambodia, aims to further promote cashless transactions in Cambodia, while boosting the Bank’s growth in the debit card business. It is targeted at the young affluent market which is a growing demographic segment in Cambodia given its rapid urbanisation and significant wealth creation.


Maybank first issued its Visa Debit Card in March 2015.


Maybank Foundation Announces Support of Women Eco Weavers

At the same event, Maybank announced the introduction of its Women Eco Weavers Programme which aims to bring positive impact to the women’s community in Cambodia.


Under the flagship program of the Maybank Foundation, will see the establishment of the first formal Silk Weaving Training Center in Cambodia to train talented women and equip them with the skills of silk weaving. At the same time, it will help support a sericulture program to help farmers produce high quality Cambodian golden silk.


“Through this program, we aim to promote and enhance traditional textiles globally in a sustainable manner whilst creating economic independence and financial inclusion of women weavers regionally. With over half of the population in Cambodia being female, we are proud to be supportive of not only the nation’s economy but also the female community,” said Tan Sri Megat.


Besides fortifying women in their quest for financial independence, the Eco Weavers Program will help develop future artisan weavers while preserving the traditional heritage of this handiwork.


The Eco Weavers Program, which is endorsed and supported by the ASEAN Foundation, will be progressively extended to the weaving community across key markets in ASEAN including Indonesia and the Philippines as well as the Indochina region as part of Maybank Foundation’s goal to promote the appreciation and use of traditional textiles globally in a sustainable manner.


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