Japanese carmaker Nissan is to set up a treasury centre in Singapore to manage treasury transactions in Asia and handle global payments. The centre opens on April 1.
The news coincides with an announcement that Nissan has established an Asean headquarters in Singapore to oversee core business functions for the region including marketing and sales, franchise management, public relations and production order processing.
The treasury centre will initially manage the company's foreign exchange exposure in the region and perform some netting functions for cash surpluses. It will then be expanded to process Asian payments before becoming a full-blown global payments centre.