Beijing

China Banking Association (“CBA”) today signed a Strategic Cooperation Agreement with Asia Financial Holdings Pte. Ltd. (“AFH”) on developing Certification Programmes to contribute towards China’s ongoing efforts to further develop Chinese banking expertise. The agreement was signed at the Great Hall of the People in Beijing.

Under the Agreement, AFH will contribute USD1 million in the coming year to support CBA’s initiatives in developing and organising Certification Programmes for Chinese banking professionals.

Mr. Liu Mingkang, Chairman of China Banking Regulatory Commission, Mr. Guo Shuqing, Chairman of CBA, Brigadier-General Chin Siat Yoon, Ambassador of Singapore to China, Mr. Heng Swee Keat, Managing Director of the Monetary Authority of Singapore, Dr. Richard Hu, Chairman of AFH, and Mr. Gan Chee Yen, Senior Managing Director of Investments, Temasek Holdings attended the signing ceremony in Beijing.

Dr. Richard Hu, Chairman of AFH said, “AFH aims to be a responsible and long-term investor in China’s banking sector. We hope that through this collaboration with CBA, we are able to play a role in supporting China’s efforts towards further strengthening the professionalism and expertise in China’s banking industry. ”

Mr. Liu Zhangjun, Vice Chairman of CBA added, “We are pleased to partner with AFH in this strategic cooperation. This is in line with CBA’s key objective in developing quality training programmes and the certification of such programmes to improve the overall professional competence and standards of employees in China’s banking industry.”

The strategic cooperation between CBA and AFH will be broad-based and will involve various areas, including the development of Certification Programmes for banking professionals, the organisation of banking forums and overseas study programmes, as well as the training of trainers and the establishment of a banking institute in China in the future. AFH may also recommend banking experts to CBA in various areas, including risk management and wealth management, for consideration by CBA’s Expert Committees for its Certification Programmes. These committees will discuss and recommend industry standards, course designs, training for trainers, examination arrangements and other relevant matters.

AFH is a wholly-owned subsidiary of Temasek Holdings (Private) Limited (“Temasek”). Temasek is demonstrating its support of the cooperation by being a co-signatory of the agreement. Sing-Han International Financial Services Limited, a professional training institute specialising in the training of financial talent will assist in the implementation of the Strategic Cooperation Agreement between CBA and AFH. It is majority-owned by Temasek.

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About CBA

CBA is a self-disciplined national banking organisation formed by domestic and foreign banking institutions in China. It is a non-profit organisation approved by the China Banking Regulatory Commission and registered with the Ministry of Civil Affairs of People’s Republic of China. One of CBA’s major roles is to develop training programmes and the certification of such programs to improve the overall professional competence and standards of employees of China’s banking industry.

About Asia Financial Holdings and Temasek Holdings

Asia Financial Holdings Pte. Ltd. (AFH) is a financial services holding company headquartered in Singapore. Currently, AFH holds investments in 12 financial institutions spanning several markets in Asia, including Bank Danamon, Bank Internasional Indonesia, China Minsheng Bank, China Construction Bank, Bank of China, ICICI Bank, First India Credit Corporation, Hana Bank, Alliance Bank, NIB Bank, E.Sun Financial Holding and Siam Commercial Bank. AFH is a wholly owned subsidiary of Temasek Holdings.

Established in 1974, Temasek Holdings manages a diversified global portfolio of US$63 billion, spanning Singapore, Asia and the OECD economies. Its investments are in a range of industries such as telecommunications and media, financial services, property, transportation and logistics. 

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Hill & Knowlton Beijing
Ms. Cecilia Chui
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cchui@hillandknowlton.com.cn

"CDA and Asia Financial Holdings Strategic Cooperation Signing Ceremony"
Great Hall of the People, Beijing
6 June 2006

Speech by Dr Richard Hu, Chairman of Asia Financial Holdings

Speech by Mr Gan Chee Yen, Senior Managing Director, Investments, Temasek Holdings