KUALA LUMPUR (Nov 4): The usage of renminbi (RMB) in Malaysia is expected to increase significantly, in line with the recent news flow on agreements signed between China and Malaysian governments. "(With) the numbers we see recently, I believe the usage of renminbi in Malaysia is to increase more than 50% year-on-year. In the poll of 1,600 decision-makers across 14 countries, 24% said their firm is using RMB, while in Malaysia, the usage of RMB for business settlement has risen by 6% to 20% versus 14% in 2015. "Belt and Road projects are already presenting huge opportunities for companies that can help develop physical infrastructure including highways, ports and telecommunications networks. There will be great opportunities for Malaysian companies too," said Andrew Sill, head of commercial banking, HSBC Bank Malaysia.

Source: The Edge Markets November 04, 2016 07:25 UTC