Aberdeen positive about OCBC acquisition

[SINGAPORE] Even as OCBC's shares slid over news of its plans to acquire Wing Hang Bank in Hong Kong, its second-largest shareholder is optimistic about the planned investment.

Wing Hang Bank's expertise in small and medium enterprise and trade finance in China will help to plug OCBC's gap in this area, said Christopher Wong, senior investment manager at Aberdeen Asset Management Asia Ltd.

Aberdeen is OCBC's second-largest shareholder, holding a 7.7 per cent stake in the bank. OCBC's biggest shareholder is Selat Pte Ltd, an investment unit of the Lee family.