Debevoise & Plimpton has advised AIA Bhd., a subsidiary of AIA Group, and its affiliates (“AIA Malaysia”) in its long-term strategic partnership with TNG Digital Sdn. Bhd. (“TNG Digital”), owner of Touch ‘n Go eWallet, Malaysia’s largest eWallet company with over 16 million customers nationwide. AIA Malaysia will also make a minority equity investment in TNG Digital.
Through this partnership, AIA Malaysia further demonstrates its digital innovation in financial services and its commitment to the Malaysian market by providing efficient, innovative and personalised digital insurance solutions to Touch ‘n Go eWallet customers to buy, claim and renew policies.
The Debevoise team advising AIA Malaysia was led by Hong Kong partner Edwin Northover, and included international counsel Allison Lee and associate Monisha D’Souza. The team supported AIA Group Senior Regional Counsel, Clive Anderson and AIA Bhd. General Counsel, Veronica Selvanayagy, and their team. Skrine provided assistance with Malaysian legal and regulatory advice.