News

Financial Services

Staff Reporter

, Singapore

Published:

5 years ago

204 views

Mr Li Zhiliang, a representative of Mr Wee Ee-Chao, Chairman and Managing Director of UOB Kay Hian (left), Mr Lin Xiaoming, Director of SIPAC (middle) and Mr Peter Foo, President and Chief Executive Officer of UOB China (right), signed the MOU in Suzhou on 15 October 2021.

SIPAC, UOB China, UOB Kay Hian collaborate on cross-border investment and financing

They will focus on telecommunications, biomedicine, and high-end manufacturing.

Suzhou Industrial Park Administrative Committee (SIPAC) has agreed on a strategic partnership with UOB China and UOB Kay Hian to provide innovative cross-border investment and financing and trade solutions to businesses in three key areas.

The focus areas are telecommunications technology, biomedicine, and high-end manufacturing.

The Memorandum of Understanding (MoU) between SIPAC, UOB China, and UOB Kay Hian was signed at the China-Singapore Investment Forum.

Under the MOU, UOB Kay Hian will set up a wholly-owned securities company at the Suzhou Industrial Park (SIP) to assist enterprises located in the site as well as those in the Yangzte River Delta area.

The securities company will offer investment banking services, including cross-border financing, and advisory for initial public offerings and mergers and acquisitions.

UOB China and SIPAC, on the other hand, will deepen Sino-Singapore investment in Jiangsu Province.

SIPAC said it aims to help more enterprises at the SIP to seize cross-board development opportunities by leveraging on UOB’s “extensive network resources, expertise on cross-border connectivity and insightful local business teams in ASEAN.”

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