Maybank plans expansion

Malaysia's biggest bank, Maybank, announced plans to expand services in China after it recently won approval to offer renminbi loans to foreign customers. The bank said it was planning a major expansion of its services in the coming five years and was optimistic it would gain a resident bank license, enabling it to offer loans to Chinese customers, in the near future. The announcement came ahead of a five-day visit to China by the Malaysian prime minister. Last year bilateral trade between Malaysia and China stood at US$20.1 billion, more than double the level in 2000.