Baiduri Bank opens Singapore office to support Bruneian firms

It seeks to facilitate foreign direct investments into Brunei.

Baiduri Bank has set up a representative office in Singapore to support Bruneian businesses seeking regional expansion and to attract foreign investment into the country.

The office, launched in May, is a “critical liaison point” for foreign direct investment (FDI) and for promoting awareness of Brunei’s evolving business environment, Ti Eng Hui, CEO at Baiduri Bank, told Asian Banking & Finance.

Ti described the move as a strategic first step, potentially paving the way for a full branch presence in Singapore in the future.

“We see this as more than a physical presence,” Ti said in an emailed reply to questions. “It’s a platform for sustained engagement, collaboration, and value creation across borders.”

In recent years, the Brunei lender has increased its participation in syndicated loans and strengthened treasury partnerships with Singapore-based companies.

The currency interchangeability between Brunei and Singapore provides a seamless environment for cross-border financial activities, Ti added.

The bank has also invested in digital infrastructure, introducing innovations such as Baiduri Tap2Pay, the country’s first solution allowing businesses to accept contactless payments via smartphones

The bank is also experimenting with generative artificial intelligence (AI) through its Emmi chatbot, which can handle complex queries, provide tailored responses, and learn from user interactions to deliver smarter support.

Ti said these developments give the bank a stronger foundation to take an outward-looking approach and diversify beyond its domestic market.

While the representative office does not conduct banking transactions, it aims to facilitate dialogue on FDIs in Brunei in collaboration with partners, including the Brunei Economic Development Board.

Ti cited growing discussions between Brunei and Singapore, particularly in Brunei’s five priority sectors: downstream oil and gas, food, services, information and communications technology, and tourism.

Baiduri Bank also has broader regional ambitions, although Brunei remains its core market. “The establishment of our representative office in Singapore marks a carefully considered first step toward building stronger regional linkages,” Ti said.

He added that the bank plans to explore markets with strong intra-Association of Southeast Asian Nations (ASEAN) trade and investment activity, as well as growing demand for Bruneian products, services, and capital.

“Ultimately, our goal is to help Bruneian firms gain a foothold in competitive regional markets like Singapore, while also serving as a gateway for ASEAN and international investors to explore Brunei’s emerging opportunities,” Ti said.

With the Singapore office, Baiduri Bank seeks to strengthen cross-border partnerships, support regional expansion for domestic companies, and enhance Brunei’s presence in the ASEAN financial landscape.