HSBC will not close Malaysia operations

Amid news that HSBC is cutting around 100 senior investment banking jobs globally,  HSBC Bank Malaysia has denied rumours that it is closing down its operations in Malaysia.

"There’s no truth to it and we will continue to operate normally," a HSBC spokesperson told Human Resources, adding that this is not the first time that such talk has emerged.

According to SunBiz, rumours of HSBC’s closure in Malaysia were being circulated on social media, citing losses of billions of dollars globally and that HSBC is “likely to close down like Lehman Brothers”.

HSBC Bank Malaysia is a member of HSBC Group and employs more than 4,000 people. HSBC has a network of more than 60 branches in Malaysia, of which a third are HSBC Amanah Malaysia Bhd (Islamic) branches.

HSBC companies in Malaysia include HSBC Amanah Malaysia Bhd, HSBC Amanah Takaful (Malaysia) Sdn Bhd, HSBC Sales and Services Malaysia Sdn Bhd, HSBC (Malaysia) Trustee Bhd and HSBC Electronic Data Processing (Malaysia) Sdn Bhd.

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