Western Union renews agreement to offer its services at Hong Leong Bank branches in Malaysia

Western Union, which specialises in money transfer services, has signed a three-year renewal agreement with Hong Leong Bank (HLBB) to extend its offering of money transfer services throughout the 283 HLBB bank locations in Malaysia.

Chew Mei Ling, Malaysia Country Director at Western Union, said, "Outward and inward remittances have been growing in Malaysia. Western Union's renewal of the agreement with HLBB will support this growth. This will enable HLBB's customers to continue to use Western Union's fast, reliable and convenient money transfer services."

Susan Wong, General Manager, Retail Deposits and Remittance, HLBB, said, "Total outward remittance for workers has shown a significant growth of 27.8% in 2014 versus 2013*. Collaborating with Western Union reflects a huge opportunity for us in accelerating the remittance business and meeting the growing consumer needs for real time money transfer."

Since the passing of the Money Services Business Act in 2011 that defined stipulations for the licensing, regulation and supervision of the money changing, remittances and wholesale currency business, there has been a tremendous increase in outward and inward remittances, with a three-year compounded annual growth rate of 30% and 20% respectively*. This growth is due mainly from senders converting from informal to formal channels for money transfer driven by greater public awareness on the value of using legal channels for remittances plus additional and easier money transfer options through mobile and Internet remittance services.

*Source: 2014 Annual Report, Bank Negara Malaysia.

Millennium Mitsui Garden Hotel Tokyo brings concept rooms to Ginza

Mitsui Fudosan has opened the Millennium Mitsui Garden Hotel Tokyo in the fashionable Ginza district last month. The hotel is the first Millennium hotel in Japan, and situated close to famous department stores and the Kabuki-za Theater.

Source: Millennium Mitsui Garden Hotel Tokyo website.

The Millennium Mitsui Garden Hotel Tokyo will is among the highest-priced hotels in the area. The hotel's exterior resembles a woven basket while the interior is designed with Asian minimalism. Special concept rooms in the hotel include the Pearl Room, designed in collaboration with Mikimoto Cosmetics Ginza, and the Hakuza Golden Foil Room, conceptualised with HAKUZA Nihonbashi. 

By collaborating with Japan's famous brands and entities with traditional craftsmanship, the hotel aims to communicate "Cool Japan" to the rest of the world.

The hotel was made possible through a partnership between the Mitsui Fudosan group and Hong Leong Group Singapore's Millennium & Copthorne Hotels. In 1972, the Mitsui Fudosan group and Hong Leong Group Singapore established a joint venture company, TID, that has developed condominium and hotel businesses in Singapore for over 40 years.