SMART Modular Technologies, the Malaysian maker of computer memory modules, wireless communication devices and wireline sub-systems, is moving to consolidate its cash management activities with one bank.
The company has mandated ABN AMRO to handle regional payments, receivables and liquidity management from its treasury office in Malaysia. The mandate currently covers transactions in Malaysia, China, India and Korea but is likely to be extended to other Asian countries.
SMART says the plan to move to a single bank platform supports its expansion strategy and will allow it to unlock working capital in countries such as India. ABN AMRO has provided SMART with an escrow account-based solution and...
