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Johor Bahru, June 30, 2008 ¿ Kuwait Finance House (Malaysia) Berhad (KFHMB) has officially opened its Johor Bahru branch today. Located at Taman Molek, Johor Bahru, the branch was officiated by Y.A.B. Dato' Haji Abdul Ghani Othman, the Menteri Besar of Johor. More than a hundred corporate guests and state government officials witnessed the opening ceremony. On hand to welcome the honoured guests were KFHMB Board Members, including its Chairman, Mr Shaheen Alghanem.
In his opening speech, KFHMB Managing Director, Dato' K Salman Younis thanked the State Government of Johor for being very supportive of the Bank's expansion into Johor. "We are now able to spread out our reach across all market sectors outside the Klang Valley, especially in the southern part of Malaysia. We are keen to work closely with the State Government and the private sector in continuing to explore opportunities and strategic partnerships. It has always been our objective to support both sectors wherever we have a presence," he said. "Just as we have been successful in the Klang Valley, we hope to replicate the success here in Johor."
Dato' Salman pledged the Bank's support for all businesses in general, and specifically for the convenience of its retail and consumer customers in the State of Johor. "In our move towards excellence in service, the branch will also offer Priority Banking. This is the second following one in the Kuala Lumpur main branch. As this is an important step in the expansion of its infrastructure and the development of its retail business, Priority Banking can be expected at KFHMB branches located in major city centres," said Dato' Salman.
Johor is the first state for KFHMB to expand its reach outside the Klang Valley and the Taman Molek branch is the fourth for the Bank. The branch also houses a Commercial Banking Business Centre where customers can access to the full range of KFH Commercial Banking products and services.
"The Commercial Banking division will continue to play an active role in contributing to the Bank's growth by serving the different needs of the middle market customers and focusing on the small medium enterprise. Apart from that, the Bank will continue to be an active market participant in the capital, money and foreign exchange market domestically and internationally," Dato' Salman further commented.
"Kuwait Finance House is not really new in Johor, we are a major partner in the development of Iskandar Malaysia through Cultural Cluster Sdn Bhd, which is vested with the development of three zones - the Logistics Village, Creative Park and Heritage District," explained Dato' Salman. Together, the three zones cover approximately 620 acres of land. The value of this investment is RM1.2 billion. This represents the initial investment towards land development and infrastructure rollout for the three zones. Cultural Cluster has also signed a memorandum of understanding with Eastern & Oriental Berhad to jointly develop a 195-acre parcel of land within Node 1 of the Iskandar Malaysia. Another partnership for KFHMB in Johor is a project financing facility for the capital expenditure programme of Senai Airport Terminal Services. "Our involvements mentioned above reflect our commitment in Malaysia and also in the Asia Pacific region. We will do our best to become the leading and preferred regional Islamic bank. We are proud to have the strong backing of KFH ¿ Kuwait and for the confidence that they have in the government, regulators and professionals in this country," added Dato' Salman.
It is worth mentioning that KFHMB has gone beyond the Malaysian waters and ventured into other countries in the Asia-Pacific region. Just last Friday a Soft Launch commemorated Kuwait Finance House (Singapore) Pte Ltd (KFHS), a wholly-owned subsidiary of KFHMB, which will undertake the management of regional funds sponsored by the KFH Group.
Dato' Salman expressed that KFHMB is keen to play a major role in attracting even more investors to Johor, being the number one state in terms of foreign direct investments. He affirmed the Bank's commitment to act as an intermediary for channeling surplus liquidity from the Middle East not just into Malaysia but also the Asia Pacific region.
In his address, Y.A.B. Dato' Haji Abdul Ghani Othman praised the role that the KFH Group has played in enhancing the link between the Middle East and Malaysia as well as the Bank's contribution to the development of Islamic finance in Johor. The Menteri Besar further acknowledged and commended the KFHMB team. "KFH-Malaysia has been very supportive of the Malaysian Government's initiatives such as participation in the economic corridors," he added. "It is my fervent hope that Kuwait Finance House will do more in the State of Johor by not only introducing more Islamic banking products and services, but by investing in more projects."
In his opening speech, KFHMB Managing Director, Dato' K Salman Younis thanked the State Government of Johor for being very supportive of the Bank's expansion into Johor. "We are now able to spread out our reach across all market sectors outside the Klang Valley, especially in the southern part of Malaysia. We are keen to work closely with the State Government and the private sector in continuing to explore opportunities and strategic partnerships. It has always been our objective to support both sectors wherever we have a presence," he said. "Just as we have been successful in the Klang Valley, we hope to replicate the success here in Johor."
Dato' Salman pledged the Bank's support for all businesses in general, and specifically for the convenience of its retail and consumer customers in the State of Johor. "In our move towards excellence in service, the branch will also offer Priority Banking. This is the second following one in the Kuala Lumpur main branch. As this is an important step in the expansion of its infrastructure and the development of its retail business, Priority Banking can be expected at KFHMB branches located in major city centres," said Dato' Salman.
Johor is the first state for KFHMB to expand its reach outside the Klang Valley and the Taman Molek branch is the fourth for the Bank. The branch also houses a Commercial Banking Business Centre where customers can access to the full range of KFH Commercial Banking products and services.
"The Commercial Banking division will continue to play an active role in contributing to the Bank's growth by serving the different needs of the middle market customers and focusing on the small medium enterprise. Apart from that, the Bank will continue to be an active market participant in the capital, money and foreign exchange market domestically and internationally," Dato' Salman further commented.
"Kuwait Finance House is not really new in Johor, we are a major partner in the development of Iskandar Malaysia through Cultural Cluster Sdn Bhd, which is vested with the development of three zones - the Logistics Village, Creative Park and Heritage District," explained Dato' Salman. Together, the three zones cover approximately 620 acres of land. The value of this investment is RM1.2 billion. This represents the initial investment towards land development and infrastructure rollout for the three zones. Cultural Cluster has also signed a memorandum of understanding with Eastern & Oriental Berhad to jointly develop a 195-acre parcel of land within Node 1 of the Iskandar Malaysia. Another partnership for KFHMB in Johor is a project financing facility for the capital expenditure programme of Senai Airport Terminal Services. "Our involvements mentioned above reflect our commitment in Malaysia and also in the Asia Pacific region. We will do our best to become the leading and preferred regional Islamic bank. We are proud to have the strong backing of KFH ¿ Kuwait and for the confidence that they have in the government, regulators and professionals in this country," added Dato' Salman.
It is worth mentioning that KFHMB has gone beyond the Malaysian waters and ventured into other countries in the Asia-Pacific region. Just last Friday a Soft Launch commemorated Kuwait Finance House (Singapore) Pte Ltd (KFHS), a wholly-owned subsidiary of KFHMB, which will undertake the management of regional funds sponsored by the KFH Group.
Dato' Salman expressed that KFHMB is keen to play a major role in attracting even more investors to Johor, being the number one state in terms of foreign direct investments. He affirmed the Bank's commitment to act as an intermediary for channeling surplus liquidity from the Middle East not just into Malaysia but also the Asia Pacific region.
In his address, Y.A.B. Dato' Haji Abdul Ghani Othman praised the role that the KFH Group has played in enhancing the link between the Middle East and Malaysia as well as the Bank's contribution to the development of Islamic finance in Johor. The Menteri Besar further acknowledged and commended the KFHMB team. "KFH-Malaysia has been very supportive of the Malaysian Government's initiatives such as participation in the economic corridors," he added. "It is my fervent hope that Kuwait Finance House will do more in the State of Johor by not only introducing more Islamic banking products and services, but by investing in more projects."
