BCB set for roadshow to promote bond issue


  • Business
  • Saturday, 04 Oct 2003

By SIDEK KAMISO

BUMIPUTRA-COMMERCE Bank Bhd (BCB) is expected to go on a roadshow to six cities, beginning with Hong Kong on Monday, to invite foreign investors to subscribe to its US dollar bond issue aimed at raising between US$250mil and US$350mil. 

Banking sources said that after Hong Kong, the marketing team would next head for Singapore, London, Boston, New York and Los Angeles. The team would be led by Morgan Stanley and Commerce International Merchant Bankers Bhd. 

“The exercise is intended to bolster the bank's capital,” a source with a foreign bank said, adding that the additional capital could be used by the bank to expand its consumer banking with a view to launching several products in the next one or two months. 

BCB, which is the commercial banking arm of Commerce Asset-Holding Bhd (CAHB), is currently embarking on a plan to boost its consumer banking to compete with other players in the market. 

Its vice-president (retail banking) Rosnah Kamarulzaman had earlier said in several interviews that the bank was looking at expanding its consumer finance portfolio. 

Rosnah said that in the current corporate exercise the bank aimed at offering various banking products as well as providing a conducive banking environment for its consumers. 

The plan would also involve expanding the banking group's electronic channels to cater to different market segments.  

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