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HSBC allocates $1 billion to scale up digital platform businesses in ASEAN

Hoover s BERNINA Sew LLC Presents Their Third Annual Spring Fling Event

Tenn lawmakers change Super Bowl public records bill, could still keep documents closed for years - Claiborne Progress

Tenn lawmakers change Super Bowl public records bill, could still keep documents closed for years - Claiborne Progress
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HSBC launches US$1 billion Asean growth fund

HSBC launches US$1 billion Asean growth fund
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HSBC setting up $1 billion growth fund to scale up digital platform businesses in Southeast Asia

SINGAPORE (Reuters) -HSBC on Wednesday said it is setting up a $1 billion growth fund called ASEAN Growth Fund that provides lending to companies that are scaling up via digital platforms across Southeast Asia. The London-headquartered bank is tapping into Southeast Asia's digital economy, which it said is among the world's fastest growing, expecting it to hit $600 billion in value by the end of the decade from $218 billion last year. "With a working population that is digitally native, increasing in size, and poised to consume more goods and services especially on e-commerce, ASEAN has so much potential for growth," said Amanda Murphy, HSBC's South and Southeast Asia head of commercial banking, at the launch of the fund.

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