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OSK Holdings seeking new investments
by Cals Mon 21 Apr 2014, 23:27
| OSK Holdings seeking new investments |
| Business & Markets 2014 |
| Written by Levina Lim of theedgemalaysia.com |
| Monday, 21 April 2014 18:38 |
KUALA LUMPUR: OSK Holdings Bhd is seeking new investments for its business, after focusing on the integration of the OSK Investment Bank-RHB Capital Bhd merger in the last 15 months, according to Tan Sri Ong Leong Huat, CEO of OSK Holdings Bhd at its 24th annual general meeting.
According to Ong, OSK could potentially raise a conservative RM1 billion of borrowing due to its low gearing.
“It does not matter which sector, so long as the business can give us good returns. We are now looking at it in as many areas as possible,” he said, adding that some decision on the nature of investments should be announced within the next six months.
He added that OSK Holdings has no intention of divesting its remaining 9.91% stake in RHB Capital Bhd at the present moment.
“Today, valuation for RHB Capital is cheap at 1.2 times price-to-book compared to other local banks. Value should come closer to what other banks valuations are... the gap should narrow,” he said, adding that the potential upside is huge.
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