Bangkok Bank to expand in Malaysia

Bangkok Bank Bhd aims to strengthen its presence in Malaysia by opening another four branches in the country by 2016, says chief executive officer Robert Loke.

He said the new branches will cost about RM1 million to RM2 million each, depending on location and size. "We currently have four branches outside Kuala Lumpur, including two in Johor, one in Penang and the latest one in Klang, Selangor.

"We do not have a branch in East Malaysia, therefore we are also looking at that possibility," he told reporters after the signing ceremony between Bangkok Bank and Wangsa Tegap Sdn Bhd, a unit of Berjaya Corporation Bhd.

The signing was witnessed by Minister of Federal Territories and Urban Well-being, Datuk Raja Nong Chik Raja Zainal Abidin.

The agreement is for the purchase by Bangkok Bank of eight levels of corporate suites together with the commercial space on the ground and mezzanine floors of one of the towers in Berjaya Central Park.

Asked on Bangkok Bank's newest investment, Loke said the bank was eagerly waiting for the right moment to invest in a new headquarters, adding the infrastructure and planning of the buildings in Berjaya Central Park was just fine.

Asked whether the bank will sell its present headquarters in Masjid Jamek, Kuala Lumpur, Loke said: "We are exploring all possibilities and everything is very much still up in the air."

He said the bank is looking to move into its new headquarters by the first quarter of 2014.

Bangkok Bank is a wholly-owned subsidiary of Bangkok Bank Public Company Limited, the largest commercial bank in Thailand. -- Bernama