Don't fear 'sudden invasion' by foreign banks: HSBC

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British banking group HSBC today said a "sudden invasion" of Malaysia by foreign banks is unlikely when the financial sector is liberalised in 2007.

Foreign banks might have more operational flexibility but may "not necessarily gain" because there are in effect limits to liberalisation, HSBC Bank Malaysia chief executive Zarir Cama told reporters.

"There is no place which liberalises totally and just says, it's a free for all now and that anybody can come in and do whatever they want to," he said after the launch of a RM76 million (US$20 million) regional processing centre.

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