Bank of China (Malaysia) has opened a new branch in Kuching, a move that expands its financial services network into East Malaysia to meet the needs of the Sarawak business community.

The branch is the first in East Malaysia, sixth in the country, and is part of Bank of China Malaysia’s plan to bring more foreign and private investments to the state, claims the bank.

Sarawak, the former name of Kuching, Second Finance Minister and Local Government and Community Development minister Dato Sri Wong Soon Koh was quoted by Borneo Post Online as saying that the establishment of Bank of China in Kuching is indeed very much relevant in supporting the aspiration of their country in attaining the status of high income nation, by the year 2020.

"With the presence of Bank of China in Sarawak, the private sector together with the state government of Sarawak, should look into leveraging on its presence to facilitate further the relevant business dealings and activities in the area of international and cross border investment ventures," Wong added.

Bank of China, which has a full commercial banking license, also has other branches located in Muar, Penang, Klang, Johor Bahru and Puchong.

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