Companhia De Telecomunicacoes De Macau Appoints HSBC for Cash Management Mandate

HSBC Global Payments and Cash Management in Macau, has been appointed to provide cash management services to Companhia de Telecomunicacoes de Macau (CTM), a telecommunications service provider in the country. CTM is a joint venture between Cable and Wireless (51%), Portugal Telecom International (28%), CITIC Pacific (20%) and the Macau SAR Government (1%).

HSBC’s cash management offering includes a new cheque outsourcing solution (COS), in addition to payments services delivered via the bank’s Internet-based electronic banking platform, HSBCnet and thereby enhancing the capabilities of CTM’s accounting system and streamlining operations for more efficient processing.

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