Logo of Phnom Penh Post newspaper Phnom Penh Post - OSK and RHB bank in merger deal

OSK and RHB bank in merger deal

OSK and RHB bank in merger deal

OSK Holdings Berhad and RHB Capital Berhad have announced the signing of a conditional share purchase agreement to merge their investment banking operations, creating the largest investment bank by assets in Malaysia, an official press release said.

OSK Holdings Berhad will sell it’s 100 per cent share in OSK Investment Bank Berhad in exchange for 245.0 million RHB Capital Berhad shares, representing a 10 per cent stake, and US$46.1 million, according to an OSK statement.

OSK Group Cambodia is looking forward to the merger, said Lim Loong Seng, the Country Head for the OSK Group in Cambodia.

“Our OSK Indochina Bank Ltd and OSK Indochina Securities Ltd entities can only become financially stronger, thus further assuring our customers that we are serious about becoming a key player in the banking and financial sectors in Cambodia, as well as in the ASEAN region,” he said.

OSKH will also sell its 100 per cent interest in OSK Investment Bank Limited as well as the remaining 20 per cent interest in OSK Trustees Berhad and 20 per cent interest in Malaysian Trustees Berhad not currently owned by OSKIB, to RHBC for a combined cash consideration of $8.38 million.

To contact the reporter on this story: Abe Becker at [email protected]

MOST VIEWED

  • US names new ambassador to Cambodia

    US President Donald Trump on Friday appointed W Patrick Murphy as the new US Ambassador to Cambodia, replacing incumbent William A Heidt. A press release posted on the White House’s website said nominee W Patrick Murphy is currently acting principal deputy assistant secretary at

  • US to ramp up sanctions after ‘flawed’ national polls

    At a press conference on Wednesday, the US State Department announced that it would expand visa sanctions on the Cambodian officials and individuals it deems responsible for “undermining democracy” in Cambodia. At the briefing, spokesperson Heather Nauert reiterated that the department regarded the July 29 elections

  • Kingdom is at a crossroads between East, West after poll

    It was dubbed a success by caretaker prime minister Hun Sen after the electoral victory of his Cambodian People’s Party (CPP), which is poised to take all seats in the National Assembly. But the July 29 national election has not been positively looked at by

  • Final poll results confirm first single-party Assembly

    IN an unprecedented situation in Cambodian politics, the official results of the July 29 national elections have declared that the Cambodian People’s Party (CPP) will take all 125 seats in the National Assembly on the back of it receiving 76 per cent of the votes. The National