Maybank sees pick-up in investment banking

Published Wed, Sep 3, 2014 · 10:00 PM
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[LONDON] Increasing share and debt sales in Malaysia and Singapore and growing stability in Thailand are set to underpin a pick-up in investment banking in South-east Asia in the rest of the year, according to Malayan Banking Bhd (Maybank).

"We see things improving in the market," John Chong, chief executive officer of the investment-banking division of Malaysia's biggest lender, said in an interview in London on Monday. "There is more stability in Thailand, the elections are over in Indonesia. We see more deals happening from the debt and equity and the mergers and acquisitions perspective."

The bank said last month second-quarter profit rose at the weakest pace since 2009 as a slowdown in investment banking countered gains from loan growth. There are quite a number of IPO deals expected mainly in Malaysia and Singapore in sectors including utilities, property and oil and gas, and the debt pipeline is "robust", Mr Chong said.

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