SINGAPORE, April 29 — DMG & Partners Securities Pte. Ltd. — branded as OSK-DMG — is now a member of the RHB Banking Group, a leading financial services provider in Malaysia.
This follows the successful business merger between RHB Investment Bank Bhd (RHBIB) and OSK Investment Bank Bhd (OSKIB) on April 13, 2013.
OSK-DMG is a joint venture between Deutsche Asia Pacific Holdings Pte. Ltd, a subsidiary of the Deutsche Bank Group, and OSKIB.
With the merger, RHBIB now owns the 51 per cent stake previously held by OSKIB.
“We have embarked on a journey of transformation,” said Kellee Kam, group managing director of the RHB Banking Group. “It is an exciting time for the RHB Banking Group as we move towards positioning ourselves as a leading multinational financial services group in the region.”
In a statement, he said RHBIB was now the largest investment bank in Malaysia by assets and one of the largest investment banks in the ASEAN region.
It has more than 3,600 staff, shareholders’ funds of over RM2 billion, and a comprehensive network of close to 100 offices in seven countries across ASEAN and Hong Kong.
RHBIB is one of the top three brokerage houses in Malaysia, with over 1,400 brokers and 60 branches.
“Additionally, the combined strength of RHBIB and OSKIB will create a strong regional platform which will allow us to serve our customers better,” said Kam.
RHBIB and OSKIB have so far jointly completed over RM20 billion (US$6.6 billion) worth of transactions in the region.
In Singapore, RHB Banking Group and OSK-DMG, jointly worked on landmark transactions in 2012 that included the S$76 million (US$61 million) one-for-two rights issue of Otto Marine Limited on the Singapore Stock Exchange, and First Resources Ltd’s S$400 million Islamic Medium Term Note Programme.
The operations and business structure at DMG & Partners remains the same and it will continue to offer comprehensive products for both its retail and institutional clients.
DMG & Partners in April launched an inaugural debt capital markets deal, namely Swiber Holdings Ltd’s S$160 million four-year 7.125 per cent fixed rate senior unsecured notes with its new DCM team.
The RHB Banking Group is the fourth-largest fully integrated financial services group in Malaysia. The group’s regional presence now spans eight countries including Brunei, Cambodia, Indonesia, Hong Kong, Malaysia, Singapore, Thailand and Vietnam. — Bernama