Maybank and Haier partner to drive Smart Energy Adoption across ASEAN

Maybank and Haier Energy Sdn Bhd, a subsidiary of Haier Group headquartered in China, have entered into a Heads of Agreement (HoA) to form a strategic partnership to accelerate the growth of Haier’s new energy platform and ecosystem.

The partnership will initially focus on Malaysia, with plans to expand into selected markets in the ASEAN region.

Haier Energy’s platform combines AI-enabled technologies and advanced solar photovoltaic solutions, energy storage, and smart energy systems to deliver efficiencies, and reduce emissions and energy costs for customers.

Serving more than one billion households globally, Haier group is backed by a footprint of 133 manufacturing facilities and 71 research and development centres, highlighting its scale, innovation capabilities and commitment to advancing sustainable energy solutions.

Under the HoA, Maybank will leverage its regional business banking platform, Maybank2E and its comprehensive suite of products and services to support Haier Energy’s expansion and facilitate supply chain agility.

Specifically, the collaboration will encompass integrated transaction banking, payments and financing solutions, including credit card partnerships and financing facilities for retail clients, Islamic financing, sustainability finance, supply chain financing, cash management, trade finance, treasury and foreign exchange services.

Dato’ John Chong, Group Chief Executive Officer, Global Banking, Maybank said, “The partnership with Haier Energy aligns with Maybank’s commitment to playing a bigger role in ASEAN’s energy transition and the China-ASEAN economic corridor, where China is one of ASEAN’s top investors and trading partners. We expect the China+1 stratedy to continue with companies seeking to diversify and expand into new markets in ASEAN. Coupled with demand for investments to strengthen regional energy resilience, this partnership with Haier Energy presents exciting opportunities.”

Ji Xiaojian, General Manager of Haier Energy, Haier Energy Technology Co. Ltd said, “With roots in China and market presence in Europe, the Middle East and Asia Pacific, one of our strategies has been to grow via open collaborations. Having a strong banking partner like Maybank is critical to supporting our cross-border expansion. We see ASEAN as strategically important. It is dynamic, expanding faster than the global average, and offers growth opportunities in smart energy generation, storage and infrastructure.”