(7 June 2012 – Malaysia) Malaysian bank RHB Capital is making further overseas acquisitions, starting with Indonesia’s OSK Investment Bank.Eventually, RHB Cap’s goal is have to have 40 percent of its earnings overseas. Currently, that contribution is only 10 percent for the enlarged entity.
RHB Cap group managing director Kellee Kam said the appetite for expansion is still present.
“The immediate goal is to complete the OSK transaction, integrate it well with RHB Cap and find the synergies that we believe are there.”
“It is a journey towards our vision to build a leading multinational financial services group with Asean and North Asia as a focus,” Kam noted.
The group recently added Hong Kong and China to its portfolio.
It is expected once official policy from Indonesia comes out there will be more clarity on when the OSK transaction will happen.