PETALING JAYA: Malayan Banking Bhd (Maybank) plans to invest up to RM4.5 billion over five years as part of its M25+ strategy to accelerate the development of new capabilities in technology and talent, including regionalising digital platforms, all underscored by customer-centricity and sustainability-first practices.
“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,” said group president and CEO Datuk Khairussaleh Ramli in a statement.
The bank said its focus is to achieve carbon neutrality in Scope 1 and 2 emissions by 2030 and net zero carbon equivalent by 2050, with plans already underway.
In managing Scope 3, the bank 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.
Khairussaleh said that the bank sees 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 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,” he said.
Meanwhile, Khairussaleh said that Asean has been the net beneficiary of the re-channeling of trades and investments and deepening of supply chains due to US-China tensions.
He said that the region is not immune to the rising risks of global fragmentation and geopolitical conflicts. Hence, businesses must be prepared to manage vulnerabilities and respond swiftly to new opportunities.
Maybank is hosting its annual investment conference, Invest ASEAN 2023 from today until tomorrow with the theme “ASEAN Reboot: Reimagining the Future”.
This year’s edition will focus on uncovering opportunities in Asean’s rising star economies, innovative corporates, capital allocation trends, Islamic wealth management, green industrialisation and artificial intelligence (AI) technologies.
Khairussaleh giving his speech at the event.
