The Capital Maharaja Organisation selects HSBC as Cash Management Bank

Thursday, 23 July 2015 00:00 - - {{hitsCtrl.values.hits}}

The-Capital-Maharaja Regional Head of Payments and Cash Management Asia Pacific HSBC, Yvonne Yiu, shaking hands with The Capital Maharaja Organisation Ltd. Group CEO/Director Mohan Bharara in the presence of senior management from HSBC and The Capital Maharaja Organisation Ltd.

The Capital Maharaja Organisation Ltd. and HSBC Sri Lanka recently announced a Cash Management partnership where the bank will provide a fully-automated payments and receivables solution to its entities.

Leveraging HSBC’s extensive experience in Cash Management locally and internationally, The Capital Maharaja Organisation Ltd. will create a seamless linkage with their Enterprise Resource Planning platform realising return on investment. This strategic partnership will provide efficiency to counterparties to achieve visibility and control over liquidity, leading to optimal use of working capital across the group.

In addition, HSBCnet, the bank’s global internet banking portal, will provide The Capital Maharaja Organisation Ltd. Treasury with a single consolidated view of subsidiaries’ cash position.

The Capital Maharaja Organisation Ltd., which has recently migrated all its businesses to SAP, is looking at unlocking value through all aspects of the business. Accordingly, Group CEO Mohan Bharara said “that an experienced international partner like HSBC can help us achieve this speedily.”

HSBC Corporate Banking Head Chamira Wijetilleke said: “HSBC is pleased to have been selected as Cash Management Bank by one of the largest privately-owned conglomerates in Sri Lanka, the Maharajah Group. HSBC’s wide range of integrated payables, receivables and liquidity solutions are best placed to support our customers to redefine the way they do business and through which, optimizing working capital efficiency and maximising productivity and bottom-line growth. HSBC has invested substantially in developing our cash management capabilities globally and customers will experience the benefit of partnering with HSBC for long-term and sustainable growth.”