GE Looks to Tap Local Financial Market
KUALA LUMPUR, July 21 (Bernama) — General Electric International Inc. (GE), is looking to tap the Malaysian financial market in a bid to expand its presence in the country, said its market development director, Megat Shahrul Azmir Nordin.
“The GE group at present, does not have a presence in the Malaysian financial market. But we are looking for an opportunity to work with local banks,” Megat Shahrul told reporters after a luncheon talk on “Developing, Inspiring & Retaining Great Leaders – the GE Way”, here Monday.
Megat Shahrul however indicated that, no formal discussions had yet materialised with regards to GE’s plan.
GE Group via its financial arm, GE Money, is involved in banking and credit services to consumers, retailers and mortgage lenders in nearly 50 countries.
Asked if the company was eyeing mergers or acquisitions, Megat said: “We are open to these prospects. But we believe working together is better than setting up new structures.”
GE is one of the worlds largest corporations with a market capitalisation of US$330 billion.
In Malaysia, GE investments exceed RM1.0 billion. GE works closely with local infrastructure providers – supplying equipment and services – such as Tenaga Nasional, Petronas, Malayan Railways (KTM) and local water authorities.
In June this year, the company invested US$5 million for the expansion of its aircraft engine overhaul and service maintenance shop in Subang. It also added the capability to repair and overhaul the high performance, low risk CFM56-5B aircraft engine.
Megat Shahrul explained that GE was delighted to continuously invest in Malaysia, as the country was highly forward looking.
“In the Iskandar Malaysia economic corridor, for example, we are working closely with the UEM Group and look forward to supplying high technology equipment.
“GE is always supportive of the Malaysian governments effort to develop the country,” said Megat Shahrul.
As most of you already known, I will be working for GE Japan under the Financial Management Program (a prestigious GE program to nurture future global financial leaders, so to say) from next April and reading this piece of news, which was forwarded to me by a good friend of mine who’s also in GE Japan already under the same program (not disclosing his name for privacy but for those people who know both him and me would probably know who he is already by now), gave me some assurance that I am taking the right step in choosing GE as the start for my career. First of all, I was surprised to hear that GE’s not in the Malaysian financial market yet and getting myself prepared here in Japan under this very program for when they do start off in the Malaysian financial market, it does sound like something good.
Anyway, I have always wanted to be in the business area since young and after coming to Japan, I realized I wanted to go further on globally to see the world and at the same time, being involved in the development of a new business back at home. I had other choices besides GE FMP like venture capital in the local internet business (which did sounded real good as well because it was a chance to pioneer a new area from Japan) but I am glad to have made the choice because it is by far, the best choice I can make since it has cleared up all the conditions of what I wanted as an ideal future career. Tough it maybe, but I am up for the challenge. So, I consider this piece of news, a piece of good news for me to read. Thanks, buddy, you know who you are and I think this is just the good chance for the two of us, who had made the choice.