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RHB Bank to sell stock broking business in Singapore | Malay Mail

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KUALA LUMPUR, June 29 — RHB Investment Bank Bhd has proposed to sell the stock broking business under its subsidiary RHB Securities Singapore Pte Ltd (RHBSS) to Phillip Securities Pte Ltd. In a filing with Bursa Malaysia, RHB Bank said its investment banking...

RHB plans to complete the sale in the third quarter of this year. — Reuters pic

In a filing with Bursa Malaysia, RHB Bank said its investment banking unit today inked a conditional agreement with Phillip Securities for the proposed disposal of RHBSS, which is expected to be completed in the third quarter of 2020. As such, Philip Securities would only be acquiring RHBSS’ stick broking business, RHB Bank said without mentioning any purchase consideration figure.

 

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RHB disposes of Singapore stockbroking business to Phillip SecuritiesKUALA LUMPUR: RHB Banking Group has proposed to dispose of its stockbroking businesses in RHB Securities Singapore Pte Ltd (RHBSS) to Phillip Securities Pte Ltd.
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