HSBC MALAYSIA GROWS ITS WEALTH AMBITION WITH JB CENTRE

JOHOR BAHRU, Nov 19 (Bernama) -- HSBC Malaysia has reinforced its commitment to growing its wealth and affluent banking capabilities with the opening of a Wealth Centre at its Jalan Bukit Timbalan branch here yesterday.

The bank said in a statement yesterday that the Wealth Centre is designed to serve the state’s growing affluent population, marking a key milestone in HSBC Malaysia’s strategic ambition to accelerate growth in the affluent and high-net-worth segments while strengthening its presence in key cross-border growth corridors.

"Johor’s strategic location near Singapore, a major international financial centre, along with strong investment inflows driven by the Johor-Singapore Special Economic Zone (JS-SEZ), positions the state as an ideal location for the Wealth Centre.

"Johor’s economic diversification into data centres, digital infrastructure and advanced manufacturing also contributed to its rising wealth trajectory," said the statement.

The centre caters exclusively to Premier Elite clients, offering appointment-only, bespoke in-person wealth management solutions tailored towards wealth accumulation, protection and legacy planning.

Johor State Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han officiated at the opening ceremony, witnessed by HSBC Bank Malaysia chief executive officer Datuk Omar Siddiq.

Lee said the positive spillover from Johor’s rapid economic growth must translate into greater prosperity through new job opportunities and higher household income.

“The pursuit of higher growth, coupled with a stronger ringgit, is elevating living standards and moving Malaysia closer to achieving high-income nation status. The financial sector plays a pivotal role in this trajectory, while international connectivity remains key in spurring more investments,” he said.

The bank’s country head for international wealth and premier banking Linda Yip said the new facility underscores HSBC’s long-term commitment to expanding its wealth management franchise across Malaysia.

“This investment reflects our confidence in Johor’s growth potential and the increasing need for sophisticated wealth solutions among our growing Premier Elite clientele.

“Last year, Johor emerged as the fastest-growing state in Malaysia with a 6.4 per cent growth rate, surpassing the national rate of 5.1 per cent. This positive momentum is expected to continue with investments flowing into JS-SEZ. More entrepreneurs, professionals and business owners are building their families, businesses and financial portfolios here,” she said.

Yip said the wealth pillar aims to bring customers the best in personalised portfolios, exclusive wealth solutions, protection offerings and legacy planning.

She said the bank’s wealth centres provide an exclusive environment where Premier Elite customers can engage with senior relationship managers and wealth specialists for regional and global insights.

Its opening amplifies the bank’s ambition to be Malaysia’s leading international bank and wealth manager. Earlier this year, HSBC launched its flagship Wealth Centre at the Tun Razak Exchange (TRX) financial district.

-- BERNAMA