KUALA LUMPUR: Malaysia's OSK Investment Bank is not ruling out the possibility of its newest strategic partner, Okasan Securities Group Ltd taking up a stake in the company after both agreed to explore areas of cooperation.
"At this stage there is no intention to have any equity involvement at all," said U Chen Hock, chief executive officer of OSK Investment Bank.
"So far, this is an MoU and we have spelled out broad areas of cooperation that we would like to work with Okasan," U said at the signing ceremony between OSK Investment Bank and Japan's sixth largest securities firm.
There has been market talk that parent OSK Holdings Bhd may be looking for a partner to grow its business regionally, and was most recently linked with Malayan Banking before Malaysia's largest lender opted to buy Singapore broker Kim Eng instead.
"Yes, there are inquiries and there are talks but there's nothing serious and we are not talking to any particular party to enter into anything definitive," U said.
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