RHB completes transfer of Singapore assets

RHB Bank also announced that RHB Securities Singapore has received relevant approvals from the regulators in Singapore for RHB Investment Bank’s proposed disposal of its entire equity interest in the former to Phillip Securities Pte Ltd.

PETALING JAYA: RHB Bank Bhd has completed the acquisition of RHB Nominees Singapore Pte Ltd, Summit Nominees Pte Ltd and RHB Research Institute Singapore Pte Ltd.

For a cash consideration of S$20.57mil (RM62.7mil), the entire equity interests in the three entities, the capital market services and the relevant assets and liabilities were transferred by RHB Securities Singapore Pte Ltd to RHB Bank.