KBank remodels Tokyo Representative Office, hopes to expand its Japanese customer base in Thailand and ASEAN

Stocks and Financial Services Press Releases Wednesday January 27, 2016 14:26
Bangkok--27 Jan--KASIKORNBANK

KASIKORNBANK's renovated Tokyo Representative Office is in a new location in the Toranomon area, next door to the capital's business and financial services center, to cater to Japanese businessmen seeking opportunities in the AEC integration. Along with the office's advisory services on trade and investment, customers will be connected with potential partners in ASEAN, with Thailand as a hub. Over 500 business deals are expected to emerge from quarterly business matching events in 2016.

Mr. Banthoon Lamsam, KASIKORNBANK Chairman of the Board, said that Japan and Thailand have pursued close investment relations for over 60 years, as reflected in the ever-growing number of Japanese investors, amounting to more than 8,000 companies at present. KResearch estimates that Thailand will enjoy around 140 billion Baht FDI from Japan this year, up 12 percent from 2015. Given huge investment value from Japan, KBank has always given priority to Japanese investors by enhancing our service network and working to expand our business alliance list. We have already established connections with 29 financial institutions and seven public organizations whose work is in support of Japanese outward FDI. With these partnerships, KBank hopes to provide a slew of financial services for Japanese investors venturing into Thailand and ASEAN member countries.

KBank recently moved its Tokyo Representative Office to the 18th floor of Toranomon Hills Mori Tower, located in the Toranomon area, in the vicinity of Kasumigaseki – a crucial political district which is the site of the National Diet and Tokyo High Court. The new KBank office is also near Japan's financial and business center, Marunouchi. With the primary mission of serving Japanese investors planning to do business in Thailand, the KBank representative office has a team of experts to offer professional investment consultation. It will also represent Thai investors looking to establish a presence in Japan, assuming the role of a liaison between Thai entities and Japanese agencies to ensure that projects are executed successfully. The interior of the new office is designed to cater to various activities, i.e. seminars and events that help customers find business and joint venture partners.

As the AEC is now officially launched, the Tokyo Representative Office is prepared to organize business matching events every quarter to fulfill its plan of generating 500 business deals in 2016, focusing on industries like food and beverages, medical devices and drugs, as well as health and beauty products. Five joint venture negotiations between Thai and Japanese companies are already underway.

In addition to arrangements in Japan, KBank has constantly upgraded services for over 3,700 Japanese businesses operating here in Thailand. Staff members who are well-versed in Japanese language and culture are on board to ensure that these clients receive the best service from KBank. To better answer their demands, the Bank has set up "Japanese-friendly branches", along with other services that have been customized for Japanese-speaking clientele, including the Call Center, ATMs, online services and bank documents.

The launch of the AEC has sparked growth within the ASEAN bloc, making it a more attractive trade and investment destination. Thailand, at the center of the region, in company with the nation's developed infrastructure, and long-standing relationships with Japan which afford Thais' appreciation of Japanese culture, can be a perfect starting point for Japanese businesses to base their operations before branching out into other ASEAN nations successfully.

KBank's 16 overseas bases cover the AEC+3 nations and other locations. They comprise one local bank in Lao PDR, seven overseas branches – six branches, namely Shenzhen, Chengdu, Hong Kong, Phnom Penh, Los Angeles and the Cayman Islands and one sub-branch in Longgang, and eight representative offices in Beijing, Shanghai, Kunming, Yangon, Hanoi, Ho Chi Minh City, Jakarta and Tokyo. In 2016, KBank will add one more branch in Vientiane, Laos. These international offices help the Bank realize its aim of providing the best support for companies conducting transactions within these respective countries. And beyond financial services, KBank also offers consultations on investment and business partnering, which can help boost business performance for customers with interests overseas.

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