Pei-Si Lai takes helm at GXS Bank; Kaushik Chowdhury steps up as GXBank CEO
KUALA LUMPUR: GXBank, the digital bank subsidiary of GXS Bank in Malaysia, has announced the appointment of Pei-Si Lai as the group CEO of GXS Bank. The appointment will take effect on June 1, 2025.
Lai, who is currently the CEO of GXBank, will succeed Muthukrishnan Ramaswami, the current group CEO, upon his retirement.
In a statement, GXBank said Kaushik Chowdhury, the current deputy CEO and chief commercial officer (Retail), will succeed Lai as the CEO of GXBank in Malaysia.
He will be supported by Hildah Hamzah, who will take on the role of deputy CEO and chief operating officer, along with the existing management team.
GXBank is a subsidiary of GXS Bank Pte Ltd, the digital bank joint venture between Grab Holdings Limited and Singapore Telecommunications Limited (Singtel).
GXBank is also owned by a consortium of other Malaysian investors, including Kuok Group.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
BusinessToday
3 hours ago
- BusinessToday
Stonepeak Partners' Reported Acquisition Of Yinson Could Value The Deal At RM9 Billion
Yinson Holdings Bhd - FSO (FPSO) Helang New York-based infrastructure investment firm Stonepeak Partners is reportedly in exclusive negotiations to acquire Malaysian energy infrastructure company Yinson Holdings Berhad, in a deal that could value the company at up to RM9 billion (US$2.1 billion). The development was first reported by Bloomberg. According to analysis by CIMB Research, this valuation translates to approximately RM3.23 per share, based on Yinson's 2.784 billion existing shares. CIMB Research indicated that if the report proves accurate, these exclusive talks could pave the way for a privatisation offer for the remaining shares of Yinson. Yinson's current market capitalisation stands at around RM6.5 billion. CIMB Research noted that the exclusivity arrangement suggests the deal has entered advanced stages of negotiation. The Lim family, who founded Yinson, currently holds a significant 26.6% stake in the company. The research house also commented that Stonepeak's investment focus appears to align well with Yinson's strategic direction, particularly given Yinson's growing presence in floating production, storage, and offloading (FPSO) and renewable energy sectors. From a valuation perspective, CIMB Research highlighted that the indicative RM9.0 billion take-private valuation, equivalent to RM3.23 per share, implies a substantial 38.0% premium to Yinson's last closing price. Relative to CIMB Research's own target price of RM2.93, the proposed acquisition price would represent a slight premium of 10.2%, suggesting potential additional upside should a formal offer materialize. Related
BusinessToday
5 hours ago
- BusinessToday
Today's Shares: Yinson Stock Up 0.85%, Hits RM2.36 Amid RM9 Billion Talk
Yinson Holdings Bhd - FSO (FPSO) Helang Yinson Holdings Bhd's shares rose 0.85% to RM2.36 as of 3.39pm today, following reports of a potential RM9 billion acquisition by US-based infrastructure investor Stonepeak Partners. Trading volume surged to 166.3 million shares, with the stock reaching a high of RM2.44 and a low of RM2.33 during the session. Bloomberg reported that Stonepeak is in exclusive negotiations to acquire the Malaysian energy firm, with CIMB Research estimating the potential deal could value Yinson at approximately RM3.23 per share. This represents a 38% premium over the stock's last closing price and a 10.2% upside from CIMB's target price of RM2.93. Yinson's current market capitalisation stands at around RM6.5 billion. The Lim family, founders of the company, holds a 26.6% stake. Related
The Sun
8 hours ago
- The Sun
Malaysia, UAE enhance cooperation in talent mobility, workforce upskilling and AI readiness
PUTRAJAYA: Malaysia and the United Arab Emirates (UAE) have agreed to enhance bilateral cooperation in areas of talent mobility, workforce upskilling, and artificial intelligence (AI) readiness in response to the rapid evolution of global technology and labour markets. The Ministry of Human Resources (KESUMA) said the agreement was reached during an official meeting between Malaysia's Minister of Human Resources Steven Sim Chee Keong and UAE Minister of Human Resources and Emiratisation, Dr Abdulrahman Abdulmannan Al Awar, in Dubai. 'This meeting marks a pivotal step in strengthening future-oriented strategies and partnerships focused on digital labour policies, labour migration, and education transformation,' the ministry said in a statement today. It said the UAE, currently ranked third in the world for AI talent readiness, also shared insights on its successful integration of AI across key sectors such as finance, biotechnology, and public services. 'The UAE minister also emphasised the need for agile education systems and adaptable workforces to address the impact of AI on both manual labour and professional sectors,' it said. KESUMA said Malaysia acknowledged the UAE's leadership in this area and reaffirmed its commitment to preparing its workforce for the AI era. The ministry also highlighted the 2024 TalentCorp study on the Impact of AI, Digitalisation, and the Green Economy on Employment, which identified 10 high-risk sectors likely to face job displacement or transformation. 'This study now serves as the foundation for Malaysia's national strategy on workforce reskilling and upskilling to ensure readiness for a rapidly evolving job landscape,' the ministry said. As a gesture of international collaboration, the UAE has invited Sim to attend the Abu Dhabi Dialogue in February 2026, which will focus on ethical migration, workers' rights, and cross-border policy alignment. Malaysia and the UAE have enjoyed diplomatic relations since 1983, built on shared values and strong economic cooperation. The UAE is Malaysia's second-largest trading partner in the Middle East and hosts a significant Malaysian expatriate community, 13 per cent of whom hold the UAE Golden Visa.
