HSBC eyes 20 per cent sales from East M’sia

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KUALA LUMPUR: HSBC Bank Malaysia Bhd (HSBC), during its 2010 packaged HSBC Happy Deals introduction here stated that it expected appro­ximately 20 per cent per annum in overall sales from East Malaysia.

CAREFUL MARKET STUDIES: Sani at the media briefing of ‘HSBC Happy Deals’ aims to reduce customers’ burdens.

CAREFUL MARKET STUDIES: Sani at the media briefing of ‘HSBC Happy Deals’ aims to reduce customers’ burdens.

The launch that took place in HSBC tower, was headed by its head of marketing, Abdul Sani Abdul Murad, who explained that the HSBC Happy Deals was first introduced in April 2009 as a means to alleviate customers’ financial burden.

“We experienced a 60 per cent increase in sales for the second quarter compared with the first quarter of 2009, of which 20 per cent was contributed by the East Malaysian market. The HSBC Happy Deals programme was almost an immediate success,” he related.

He added that the although this year Malaysians will be gradually coming out of the economic crisis, HSBC is committed to do its fair share to assist potential customers to stretch their ringgit in a more positive economic environment.

Based on last year’s feedback on its products, HSBC has integrated five key consumer banking products of choice in its HSBC Happy Deals this year, which include Personal Financing, Takaful, Home Financing, Investment and Foreign Currency Time Deposits, all of which are packaged to offer customers better value for their money.

Sani said, “HSBC Happy Deals was created to help customers manage their finances with ease and peace of mind, as well as put a smile on their faces”.

“The East Malaysian market, consisting of a more mature clientele, has showed preference for our wealth management product, where they can see recurring income. We are planning to use that as a stepping stone to explore the market further.”

Sani disclosed that East Malaysia largely remains an untapped market by far, but because of the technology now, it will no longer be a grey area as customers can easily be connected online to its products.

He also stated that having set a 20 per cent target will not be a hindrance to HSBC to further explore the clientele possibilities in East Malaysia as he hopes to capture the more of the market in the future.

“HSBC Malaysia has developed and introduced the HSBC Happy Deals after careful market studies from various research materials,” said Sani and added that HSBC, as ‘The World’s Local Bank, will be able to provide customers with the best financial solutions tailor-made to suit their existing requirements with its extensive expertise in the field.

He said that HSBC will be opening approximately six new branches but was unable to specify locations or when it will be doing so, instead stated that East Malaysia is very much a target now more than before because of the vast market prospects.

When queried as to who may be its closest rival with regards to its products, Sani expressed, “If we win the hearts of our customers, we don’t have to worry about that.”

As for internal or external collaborations in an effort to promote its products, Sani said, “As of now, we do not have any kind of collaboration with other institutions but future collaborations will definitely be considered. If the need arises for a collaboration to enhance our services that will further meet our customers’ needs, we will definitely be looking into it.”

In addition, customers can look forward to grow their wealth with HSBC Premier or HSBC Amanah Premier’s investment plans.

In East Malaysia, HSBC currently has branches in Kota Kinabalu, Labuan, Sandakan, Tawau, Kuching, Sibu, Bintulu and in Miri.