The bank, which is the first India based bank to clinch a licence from the government, is looking to expand to 15 branches in the next three years.
Deputy
Minister of Finance, Datuk Ir Donald Lim Siang Chai receiving a
souvenir from the Indian Overseas Bank chairman and managing director,
M. Narendra. Looking on is the Union Minister of State for Finance of
the Government of India, Namo Narain Meena (2nd right) and Bank of
Baroda chairman and managing director, M.D. Mallya (2nd left). It was
after the official launch of the India International Bank Malaysia Bhd. -
THE STAR/SAMUEL ONGIIBM said it was optimistic about its prospects as bilateral trade between Malaysia and India was at a historic high of US$12bil or RM37bil in 2011.
“With the full implementation of the India-Malaysia Comprehensive Economic Cooperation Agreement, there is potential to increase the trade flows further,” it said.
IIBM expected its entry into Malaysia would enable it to capture the Indian business interest with Malaysia and to promote bilateral trade and investments as IIBM could leverage on the links of its promoter banks' Indian and global network of branches.
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YIP KUM FOOK (MCA GOMBAK) BERCAKAP BOHONG DAN TIPU WANG RAKYAT
KUALA LUMPUR: The Chinese community has been won over by Barisan Nasional's ability to maintain stability, peace and harmony.
Unlike the opposition coalition, BN component parties stay united and learn from their mistakes to become stronger and well prepared for the election, said MCA Gombak chief Datuk Yip Kam Fook.
He said the Chinese community's support for the BN now is different from what it was in 2008.
"Back then they wanted change and they gave the opposition a chance, but the quickly regretted their decision as their representatives did not do anything for them.
"They see oppositionleaders bickering with each other and coming up with conflicting statements", said Yip during a 1Malaysia dinner organised by MCA Kampung Kuala Ampang in Hulu Klang last night.
More than 2,000 people cheered when Gombak parliamentary seat candidate Datuk Dr Rahman Ismail and Hulu Klang state candidate Rahim Kamarudin walked into the tent, accompanied by Yip.
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