We solve your treasury challenges in Asia
Why use our services?
Managing treasury in Asia is complicated! Each country has its own complex and restrictive rules and regulations and all change at a rapid pace. The region is also very diverse when it comes to culture, business praxis, level of development and is far away from a European/American HQ group treasury.
Triple A Treasury can help with these challenges being a treasury consulting company with focus supporting European and American companies in being successful with Treasury in Asia.
Who we are?
Triple A Treasury operates out of Hong Kong which gives us direct access to the region.
We have long experience working in Asia, and understand both technical matters, like regulations, dynamics of local financial markets etc, but also the cultural aspects. Being in the right time zone makes communication efficient, and if needed to visit your Asian subsidiaries, it is just a short trip away. We also have direct access to the banks with our office located in the Central district of Hong Kong.
We are the bridge between your European/American Group Treasury and your Asian subsidiaries, and support the execution of your treasury agenda in the region.
Why not use local finance team?
Using your Asian finance team for treasury optimizations have challenges; they may be occupied with recurring finance tasks, they likely lack the more advanced treasury skills needed to drive optimizations, using them for treasury pull away resources for what they are hired for i.e. finance and incentives on EBIT level may give treasury optimizations low priority.
Establishing a regional treasury function with an expat from head office is very expensive and still require long time to understand the region.
If hiring a regional treasurer from the local talent pool, there is still a cultural and communication gap to group HQ, local talent of good quality also costly, and a full time position still may not be needed.
Our Head Consultant and Founder
Our Head Consultant and Founder, Aron Akesson, has 20 years of experience in banking and treasury and of these, the last 8 years doing treasury in Asia.
His got his first experience managing treasury in Asia while working in the treasury department at the head office of Carlsberg in Copenhagen. Doing this he saw how difficult it was to manage Asian treasury from Europe.
Aron was later asked to relocate to Hong Kong to set up a regional treasury function for the Carlsberg group which he continued to manage for 7 years. During this time, Carlsberg’s Asia treasury was brought from a very fragmented, poorly optimized state to a well working, managed and centralized treasury. He also participated in numerous M&A deals, roll-out of supplier financing programs, etc.
Having both a Master’s Degree in Business Administration and a Master’s Degree in Computer Science, he is passionate not only about finance, but also technology. Being curious and continuously wanting to learn new things, he just developed a crypto-currency as a learning project.
He is European with vast Asian experience both form business and cultural perspective and speaks multiple languages, including Chinese.
Here are some example projects covering areas we have experience working with, and serve as inspiration of what support we can provide. This list is obviously not exhaustive. Contact us and we can discuss how we can cover your specific needs.
Services can either be done on project basis, as part/full time interim regional treasurer or on hourly basis.
China treasury clean-up, addressing trapped cash and optimization
A common case: Fragmented account structure, no or limited liquidity management, cash spread on numerous accounts in a number of local banks, earning 0% interests when a term deposit would earn 3%.
We optimized your China treasury structure by doing all or part of: Selection of bank for a cash pool, get cash pool implemented, close down non-essential accounts, optimize liquidity management, concentrate cash to relationship bank, make all external payments from cash pooled accounts, address trapped cash, get optimized financing and deposit making in place.
Due to the high borrow-deposit and cash on account-deposit spread in China, these projects can have pay-back times in weeks. Added to this the reduced counterparty risk on non-relationship banks, increased cash visibility and reduced operational and fraud risk.
China Bankers Acceptance Draft (BAD) optimization
The widespread use of BADs in China, and how they are used can be a treasurers nightmare!
We help you develop a strategy for collections and payments with BADs, implement this strategy and ensure procedures for future best execution.
Establish Supplier financing program and working capital optimizations
Identify markets where a supplier financing program would be value creating, selecting bank, implementation and support in the process of negotiation payment terms and on-boarding suppliers.
With the highly regulated markets in Asia, provide advice on where and how FX (and other financial risks) can best be hedged.
Treasury support for M&A activities on due-diligence, financing, transaction flow, FX planning, deal execution, day one readiness and post deal integration, all under the constrains of local regulations. Both for buy and sell projects.
Provide suggestions and implementation of optimal financing structures (domestic/cross border, bank/Intercompany etc).
Treasury policy: Formulate policy, roll-out, monitoring.
Support in formulating or adjusting a treasury policy that will work in consistence with local regulations. Roll-out policy, work with Asian subsidiaries on improvements needed to reach compliance and subsequent monitoring of compliance.
Global Treasury Integration
Integrate Asian business, to the extent possible in global cash pools, FX trading, netting etc.
Support the process to identify means available to arrange for cash repatriation out of regulated markets.
Establish a treasury/regional treasury function
Supporting in establishing a regional treasury function/treasury center.
Capital and ownership structure optimizations
Review of capital and ownership structures to suggest and implement optimizations.
Interim full/part time regional treasurer
We get more integrated in your organization by acting as interim full/part time regional treasurer to bring projects, optimizations etc forward, including but not limited to other projects mentioned in this overview.