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Business

SMBC deal aims to promote Japanese investment in Malaysia

Megabank teams with agencies to help companies find local partners

TOKYO -- Sumitomo Mitsui Banking Corp. has partnered with the Malaysian government to encourage Japanese companies to invest in the Southeast Asian country.

The Sumitomo Mitsui Financial Group unit recently signed a memorandum of understanding with the Malaysian Investment Development Authority and the government-affiliated InvestKL. They will hold joint seminars for Japanese companies, including small and midsize businesses, and work together to help these companies find tie-up partners.

Nearly 1,500 Japanese companies operate in Malaysia, one of Sumitomo Mitsui's priority markets in Asia.

(Nikkei)

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