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OCBC eyes Indonesia's securities market, Indonesian unit unveils new HQ in Jakarta
OCBC Bank's Indonesian subsidiary, PT OCBC Sekuritas Indonesia, has officially unveiled its new headquarters in Jakarta's central business district, reinforcing the Singapore bank's ambitions in the securities market in Indonesia, a core market.
"We recognise the strong potential in Indonesia's securities space given the growing number of affluent individuals and the increasing sophistication of investors here,'' Lim Kim Siah, president director of OCBC Sekuritas, said.
"As the country embarks on initiatives to spur growth in its economy, the capital financing needs of its corporates in both emerging and established industries will also rise in tandem. OCBC Sekuritas, which is able to leverage OCBC's product capabilities and extensive regional presence, is well placed to serve the needs of both these groups of customers.''
OCBC Sekuritas is equipped with both a stockbroking licence and an underwriter licence, enabling it to provide securities trading services as well as onshore debt and equity financing solutions in Indonesia. OCBC had acquired an 80 per cent stake in PT TransAsia Securities in November 2012, and renamed the subsidiary to OCBC Sekuritas a month later. In December 2014, its stake in OCBC Sekuritas was increased to 95.1 per cent.
OCBC said from the time of its inception, OCBC Sekuritas has been registering steady growth in both its securities trading and investment banking businesses.
The Indonesian unit has been able to grow its securities trading active customer base by about 160 per cent since December 2012. As at February 2015, its market ranking improved to 32 out of 120 brokerages from 93 a year ago. OCBC Sekuritas has also made inroads into Indonesia's capital markets. It was one of the underwriters in the US$202 million initial public offering (IPO) of PT Blue Bird Tbk, which was the largest IPO in Indonesia in 2014.