HSBC launched a US$1 billion Asean growth fund and a US$150 million lending fund for Singaporean businesses.
The Asean growth fund targets high-growth industries and corporates expanding digitally across the region.
The lending fund operates in six Asean markets, assessing companies' cashflow generative asset portfolios.
HSBC aims to address funding gaps for corporates amid regional growth challenges.
Additionally, a US$150 million venture debt offering in Singapore complements existing funds, supporting high-growth companies.
Priya Kini, managing director and head of HSBC Commercial Banking, Singapore, noted the gap in the market for institutions capable of serving all six major Asean markets, emphasizing the bank's ability to meet this need.
Amanda Murphy, HSBC's head of commercial banking for South and Southeast Asia, highlighted the challenges faced by corporates in raising additional funding to seize growth opportunities, underscoring the significance of the bank's initiative amidst the funding constraints in the region.
#HSBC #GrowthFund #Asean #Singapore #Business #Opportunity I The Business Times I SPH Media I Ruoxue Goh
--
2wHelpful! This will