The birth of modern banking in Malaysia goes back to the 19th century, when the Straits Settlement, a British colony that included Penang, Singapore, and Melaka, was founded. Penang's strategic location and port facilities served as a catalyst for the establishment of several banks in the country including HSBC, whose origins were fuelled by the need to facilitate trade and serve the international needs of customers here.

From Penang in 1884, moving then into the Malay peninsula and after the Second World War across the South China Sea to Borneo, the then HSBC established a truly Malaysia-wide reach even before the country's independence. This was reinforced when we absorbed the Mercantile Bank in 1959, which broadened our country-wide coverage even further.

In 1984, HSBC was the first foreign bank to locally incorporate in Malaysia, forming Hongkong Bank Malaysia Berhad. And in 2007, HSBC Bank Malaysia Berhad was the first locally incorporated foreign bank to be awarded an Islamic banking subsidiary licence in Malaysia, and HSBC Amanah Malaysia Berhad, an Islamic bank wholly owned by HSBC Bank Malaysia, commenced operations in August 2008. More recently, in 2022, we opened the doors to our country head office, Menara IQ, at the new international hub for finance and business at Tun Razak Exchange in Kuala Lumpur from where we continue to strengthen our suite of offerings across retail and corporate banking.

Over the last 140 years, HSBC has supported Malaysia's financial and economic developments including its urbanisation, the beginning of manufacturing and the growing demand of commodities. The bank has also weathered change in all forms - economic crises, new technologies. The resulting corporate character enables HSBC to meet the challenges of the 21st century while continuing to play our part in a story that started more than a century ago.

The bank's capacity to adapt and grow with the times has been a major contributor to our long-standing success in the country.

The bank has also been a fervent supporter of the government's ambitious plans for the growth and economic advancement of the nation and has stepped up efforts to promote positive social change.

For Malaysia itself, openness and connectedness have been the cornerstones of the country's prosperity and growth. And returning to these foundations will be essential to accelerate the development of the nation. Banks like HSBC will continue to be crucial to help rekindle and strengthen the connections needed to facilitate this progress.

I am excited about the tremendous potential that Malaysia presents to investors, businesses, and entrepreneurs as it moves forward, especially given its diverse economy and connectivity to international supply chains and trade networks. Its thriving consumer class, expanding skilled labour force, and burgeoning population all contribute to its allure as an investment destination. Along with attracting a diversified pool of international talent, the nation's competitive business environment and robust infrastructure capabilities offer major draws for global corporations looking to establish their regional centres in Malaysia.

Malaysia is a key part of HSBC Group's expansion plans across the ASEAN region. And for the last 2 years, I have had the great privilege of being the first Malaysian to lead HSBC in the country. It has been a humbling experience to lead a bank that is considered to be so much a part of the fabric of the country.

With a presence in 62 countries, our ability to connect our clients to opportunities across the globe is unparalleled. HSBC for instance is an obvious choice for a Malaysian company looking to go abroad or a foreign company that is keen to expand and invest in Malaysia. We can also support personal banking needs for those looking to relocate to another country for a job or to send children to study overseas. What differentiates us and reinforces our position as a truly global, universal bank is the international aspect of both our wealth and personal banking and wholesale propositions.

Since the opening of our first branch in Malaysia 140 years ago, we have grown and prospered together with our customers and the communities. As we look ahead, we will thrive by overcoming barriers and connecting our customers in the country with opportunities here and around the world while also supporting global customers as they look to enter and expand in Malaysia. This is best summarised by our Group CEO, Noel Quinn.