OSK Investment Bank enters MoU with Okasan

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KUALA LUMPUR: OSK Investment Bank Bhd (OSK Investment Bank) has entered into a memorandum of understanding (MoU) with Okasan Securities Company Ltd, the sixth largest integrated securities company in Japan, to cooperate in cross-border trading, advisory and fund raising opportunities between Asean and Japan.

Its chief executive officer, U Chen Hock, said the MoU would pave the way for both parties to foster cooperation and development in relation to capital markets particularly in Malaysia, Indonesia, Singapore and Japan.

“The sharing of expertise and network between OSK and Okasan is set to result in a strong working relationship which will see both organisations jointly promoting Asean equities to Japanese investors and vice versa,” U said at the signing ceremony here yesterday.

President of Okasan, Kenichi Tanaka said a Japanese investment boom had just begun in Asean markets.

“The Asean region is in the limelight for its large population and high economic growth,” he said.

Okasan has engaged in several areas this year to expand its footprint in the Asean region.

Tanaka said, in January the company started its Singapore equity business and was now preparing for its Indonesian equity business.

Meanwhile, OSK Investment Bank would be actively looking at acquiring a controlling stake in a Thai entity in its aspiration to become a regional player.

“We have completed a due diligence with a Thai entity and hope to complete details of the sale and purchase agreement and wrap up the deal by the third-quarter,” said U, adding that OSK Investment Bank was also looking at Vietnam.

“We have already entered into a momorandum of understanding with a Vietnamese securities company through a subsidiary in Singapore,” he added. — Bernama