KUALA LUMPUR (Jan 20): RHB CAPITAL BHD [] which has submitted an application for Bank Negara's approval for a proposed merger with OSK HOLDINGS BHD [], hopes to get the nod by the early second quarter of this year, RHB Bank Bhd Deputy Managing Director, Renzo Viegas said.
Both parties had submitted the application on Jan 11 to seek approval from the Minister of Finance via Bank Negara for the possible merger of businesses of OSK Investment banking group and RHB banking group.
"We will utilise regional branches of OSK for commercial banking if the merger kicks off," Viegas said at the launch of the RHB "Now Race For A Ducati" campaign.
HwangDBS Vickers Research had said the merger would enable RHB Cap to tap into OSK's entrenched retail channel -750 remisiers and dealers- to distribute equity and debt offerings, while grabbing a niche position in the capital markets.
The potential merger of RHB Cap and OSK Investment Bank Bhd will create the largest stockbroker in Malaysia.
At midday, both RHB Capital rose three sen to RM7.33 and OSK Holdings inched up one sen to RM1.80. - Bernama
Both parties had submitted the application on Jan 11 to seek approval from the Minister of Finance via Bank Negara for the possible merger of businesses of OSK Investment banking group and RHB banking group.
"We will utilise regional branches of OSK for commercial banking if the merger kicks off," Viegas said at the launch of the RHB "Now Race For A Ducati" campaign.
HwangDBS Vickers Research had said the merger would enable RHB Cap to tap into OSK's entrenched retail channel -750 remisiers and dealers- to distribute equity and debt offerings, while grabbing a niche position in the capital markets.
The potential merger of RHB Cap and OSK Investment Bank Bhd will create the largest stockbroker in Malaysia.
At midday, both RHB Capital rose three sen to RM7.33 and OSK Holdings inched up one sen to RM1.80. - Bernama
