Latest news with #SueLee
The Star
7 days ago
- Business
- The Star
Malaysia holds investor appeal
PETALING JAYA: Investors are eyeing Malaysia as a key destination for their investments, as the country remains in a favourable position compared to its Asian emerging market peers. To lend credence to this view, Citi managing director and head of markets for Asia South, Sue Lee, told StarBiz that Malaysia stands out among Asian emerging markets due to its attractive mix of a highly skilled workforce, political stability, and cost competitiveness. She added that these key strengths continue to draw strategic investments across electronics, manufacturing and services. 'Malaysia's stable and vibrant economy, supported by strong government initiatives, attracts billions in foreign direct investment into the country through incentives such as tax breaks and special economic zones like data centre hubs, the Johor-Singapore Special Economic Zone, and the high-tech parks in Penang. 'Its diversified economy and export-oriented markets, with strong contributions from industry players in semiconductors, integrated circuits, manufacturing, commodities and services, bode well for the country,' Lee said. She said another key advantage that Malaysia has over other emerging markets is its highly skilled and multilingual workforce. English is widely spoken and labour costs remain competitive. Lee said Malaysia's strong trading relationships with both the East and the West, supported by multiple trade agreements spanning Asia, the Americas and Oceania, are another plus point. These agreements include the Asean Free Trade Area, Regional Comprehensive Economic Partnership and Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Citi is a banking group headquarted in the United States with a physical presence in 94 countries, local trading desks in over 80 markets and a custody network in over 100 markets globally. Out of this, 63 are proprietary to Citi. The group operates in over 180 countries and jurisdictions. Citi's consumer banking business in Malaysia was acquired by UOB Malaysia in 2022, resulting in Citi's retail banking and consumer credit card operations being transferred to UOB Malaysia. However, Citi continues its transaction processing operations in Malaysia. Since establishing the Citi Solutions Centre, a world-class global processing centre in Penang in 1993, and a second centre in Kuala Lumpur in 2007, Citi has been a leader in transaction processing in the country. These centres are part of the global Citi Solutions Centres Network, helping build scale, capacity for growth, and world-class processing standards. Commenting on the recent overnight policy rate cut and Citi's business outlook in Malaysia, Lee said that despite the revised gross domestic product growth forecast of 4% to 4.8% for this year, Citi's markets business has seen double-digit growth. This was driven by equities, foreign exchange (forex) rates and funding. 'Given our longstanding presence in Asia, our institutional clients see us as the most Asian of the global banks. 'Clients rely on both our onshore and offshore capabilities as they look to hedge their exposures. 'Citi is seeing increased flows through various market products as a result of increased market volatility. 'We will continue to provide liquidity and risk management solutions to our clients who require support,' she noted. Lee said Citi is also expanding its reverse repo book locally to offer more liquidity and enhance its product capabilities to meet cross-border forex and rates requirements. On the impact of US tariff policies on global trade and Malaysia, Lee said there is a healthy demand for hedging and risk management tools. Citi has observed a notable increase in corporate clients hedging activity, including both local firms and multinational national corporations. 'In times of uncertainty, Citi's business model, global footprint and strong balance sheet serve as a pillar of strength and stability for our clients. 'Given this, more clients in Malaysia are leaning into Citi for advice and our advice to local clients is pretty straight forward. 'Important opportunities will come up, and they will require financial flexibility and efficient decision-making,' Lee noted. Elaborating on trends in Malaysia's forex and rates activity, she said forex market volatility has jumped to a five-year high. Early tariff threats triggered a safe-haven flight to the US dollar, causing the US dollar-ringgit exchange rate to test RM4.50 earlier this year. 'However, with tariff deals coming through, the market has sold off US dollars heavily, and the ringgit has strengthened back towards RM4.20,' she said. She added that the narrowing rate differential between the United States and Malaysia also pushed the US dollar-ringgit exchange rate lower. 'Foreign currency deposits have been trending higher and currently sit at an all-time high. 'This reflects corporates' preference to hold US dollar deposits. 'But this is expected to change with the narrowing rate differential, which will likely lead to increase hedging demand from clients,' she said. To this end, Citi is capitalising on the heightened volatility by providing clients with optimal liquidity for their hedging requirements. 'We are on the ground, helping our clients navigate this highly uncertain market environment by providing them with the latest insights through the FX Wire platform,' Lee said. Following July's interest rate cut and Bank Negara Malaysia's indication that the move was pre-emptive, she expects demand for Malaysian securities to slow. However, Lee said should the US dollar weaken in the future, foreign investor inflows are likely to pick up again. Regarding Malaysia's competitiveness with South-East Asia benefitting from global supply chain diversification, Lee noted that many of Citi's clients in the region are concerned about tariffs and their economic implications. 'Trade deals and clarity will help boost investor confidence. 'More broadly, companies are preparing for a fundamental shift in trade and capital flows. 'Our global network is designed for moments like these. 'Our ability to connect the dots across markets, provide real-time insights, and execute at scale is what sets Citi apart. 'The uncertainty will continue to drive fluctuations in global markets and we will continue to find ways to help clients mitigate risks and seize opportunities,' Lee said.
BBC News
15-06-2025
- General
- BBC News
Estate where 'some kids have never been on a train'
A railway station planned for an estate where some children have "never been on a train" could make a huge difference to young people's lives, local people have said. The Woodchurch estate on Wirral is to be linked up to the rail network as part of a £1.6bn investment scheme. Staff at Fender Primary School said that despite the estate being only four miles from the seaside, some children have never been around building a station to directly serve the estate have been going on for more than a decade. The exact location of a station is still to be confirmed, and it is expected to take until about 2030 for planning permission to be given. Once built, it would link the estate to Liverpool and Wrexham. 'Open up opportunities' Emma Simms, a staff member at Fender school, said: "A lot of the children do not have the opportunities to leave the estate whether that is for days out or holidays."We have conversations with children who have never been on the trains."Staff at the school said a new station would cut down on travel time, open up school, university and job opportunities, and give children more life experiences. Sue Lee, who has lived in the area for 20 years, feels the new station would bring more value and investment to Woodchurch as well as open up said: "Just trying to get off the Wirral at all is a tricky one."You can but then you have to go to Birkenhead to get the train somewhere. This just enhances all your options."She said her daughter was an athlete and in the past, sometimes they had to get taxis to competitions because there were just no other options."A lot of children do not get off the estate," she said. "If there is something right there it makes it a lot easier to go to places they might not necessarily go to." 'Degree of isolation' However, there's still some scepticism after years of promises. Maureen Cain said: "It's a good place to live, it really is and I think it will be really she said: "Until it happens, no one will be jumping for joy. I think people get fed up and think that until it happens, we aren't going to be happy about it."Wirral councillor Jerry Williams, who grew up on the estate, said connectivity was one of the most important issues on the Labour councillor for Upton said there was "a degree of isolation on a lot of the estate" and "to have a station there is really going to transform things".When the funding was announced, it was welcomed by top politicians in Wirral. Matthew Patrick, Wirral West's MP and former councillor for the area, said: "People here deserve good jobs, better transport links, stronger schools and great leisure services." Listen to the best of BBC Radio Merseyside on Sounds and follow BBC Merseyside on Facebook, X, and Instagram. You can also send story ideas via Whatsapp to 0808 100 2230.
BBC News
22-02-2025
- Entertainment
- BBC News
Somerset in pictures: Otters, owls and EastEnders pub
Animals have taken centre stage in Somerset this week after two owls returned to their nesting box for a third year, and Noah's Ark Zoo Farm welcomed its first ever Asian short-clawed in the county an eight-year-old artist is gearing up for his first art exhibition, and we visited Somerset's very own Queen are some images from across the county we have loved this week. Get out my pub: As EastEnders celebrated its 40th anniversary, BBC Radio Somerset spoke to the landlords of Somerset's very own 'Queen Vic' - The Queen Victoria Inn in Priddy. A tea-ry gesture: Musgrove Park Hospital cleaner Sue Lee was surprised by her colleagues with a tea party this week, as she celebrated 35 years working in the NHS. "It brought tears to my eyes that my fellow colleagues took time to arrange it, and celebrate my milestone with me," she said. Love is owl you need: Conservationists are celebrating after barn owls Finn and Trude returned to their nest box on the Blackdown Hills for a third year this week. Twit-twooo! Art attack: One talented eight-year-old is preparing for his first exhibition after a gallery spotted his paintings online. This is an original by Kevin Kovacs, from Wellington, who will have his work showcased at the Tacchi-Morris Arts Centre in Taunton from next week. Incredible! Ahoy for now: "Amazing role models" Simon Perks and Geoff Vian are taking a step back from their voluntary work at the RNLI Portishead after 10 years. They were awarded certificates in a ceremony at the lifeboat station this week. Hard at work: Council contractors were out on Yeovil's High Street this week, repairing damage to the pavement caused during utilities work last summer. Somerset Council said the cost of the work would be covered by energy company SSE.
Yahoo
21-02-2025
- Yahoo
Headlines: 'Dense' murmuration and toy gun attempted robbery
Here's our daily pick of stories from across local websites in the West of England, and interesting content from social media. Plans in Bristol city centre around Broadmead have been altered due to concerns from disabled groups, leading to more disabled parking spaces and crossings being added, according to Bristol 24/7. A cleaner who has been at the NHS for 35 years has been celebrated on her anniversary at Musgrove Park Hospital. Somerset Live says Sue Lee "broke down in tears" at the gesture. And a long-standing restaurant in Gloucester - Cote Brasserie - will cease trading on Sunday, says Gloucestershire Live. Army mishandled sex assault before death - coroner Woman who claimed to be Madeleine McCann arrested Hotel turns away Paralympian because of wheelchair A man who tried to rob a shop in Devizes with a toy gun has been jailed. Timothy Cooper, 42, of Flax Mill Park was fended off by a shop worker - and you can see the video here. It looks like closed nightclub Lava Lounge in Swindon is being knocked down – and pictures of this happening have been posted in the Swindon Community Notice board group on Facebook. Read about the future of the site here. And an amazing murmuration has been captured at Ham Wall on the Somerset Levels, which shows the spectacle occurring very low on the ground. Follow BBC West social channels in Bristol, Gloucestershire, Somerset and Wiltshire. Send your story ideas to us on email or via WhatsApp on 0800 313 4630.
