Ex-CIMB treasury CEO calls for direct Asean forex crosses
Asean companies should avoid the expense and settlement risk of crossing into US dollar and go straight to the local currency
Companies conducting trade in the Association of Southeast Asian Nations (Asean) region should avoid using US dollars as a conduit before settling into a final currency in order to avoid extra costs and improve risk management, according to the former CEO of CIMB Bank's treasury.
Speaking at the Asean Risk conference in Kuala Lumpur today (May 14), Lee Kok Kwan, adviser to the group CEO of CIMB Bank, said companies conducting trade in the Asean bloc should directly settle payments into an Asean
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