RHB Asset Management (RHBAM), a newly formed merger between RHB Investment Management with OSK-UOB Investment Management, aims to boost its overseas revenue to 40% by 2020.
The firm aims to increase its revenue from its current 9% contribution to 40% by targeting businesses in Asean and the Greater China region.
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Additionally, the firm also expects to grow its asset under management (AUM) to RM100 billion by 2018 from its current RM40.1 billion contribution.
The new asset management unit’s executive director Eliza Ong said that the AUM growth would be achieved via organic growth, strategic partnership tie-ups and also acquisitions.
Ong said that RHBAM is looking at countries it is already operating in, such as Indonesia and Hong Kong, for expansion, and is also seeking at entering China and Taiwan.
RHB Investment Bank Bhd Managing Director Mike Chan said that RHBAM has the capacity to grow outside Malaysia.
Chan added: "We are not short of capital. We are discussing with few parties."
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By GlobalDataOng added: "This merger is a significant milestone as we strive to become an outstanding Asean fund house with Asian capabilities. We will follow our parent company (RHB) mostly but we are also eyeing these partnerships with potential players in the industry to grow our assets.
"The combined unit would enable them to offer a wider range of products and services as they expand their business and investments regionally. The merged unit has 300 staff across its offices in Malaysia, Hong Kong, Singapore and Indonesia," he added.
