Background of OSK Holdings

Topics: Board of directors, Corporate governance, Investment Pages: 8 (2161 words) Published: December 2, 2014
Background of Company
Background of OSK Holdings Berhad (5053.KL)
OSK began its operations in 1963 as a small stockbroking company. Now OSK is one of the leaders in the finance industry. In 1991, OSK was listed on the Main Board of the Kuala Lumpur Stock Exchange. It then obtained universal broker status in 2002 and subsequently an investment banking license in 2007. Over the years, OSK transformed from a domestic retail broker into one of ASEAN's largest regional investment banks with over 3,700 professionals in 94 offices across 6 countries (OSK Holding Bhd, 2014). The OSK brand grew to rank among Malaysia's Top 50 Brands in 2008 and 2010, it has been evaluated by Brand Finance, a London-based brand and intangible asset valuation firm. OSK differentiated itself in the competitive investment banking market by building a niche in small and mid-cap investment banking. On 28 May 2012, OSK Holdings Berhad announced the merger of OSK Investment Bank (OSKIB) with RHB Capital Berhad (RHBC). On 9 November 2012, OSK Holdings has completed the disposal of its 100% equity interest in OSKIB; 100% equity interest in OSK Investment Bank (Labuan) Limited; 20% equity interest in OSK Trustees Berhad; and 20% equity interest in Malaysian Trustees Berhad to RHB Capital Berhad (RHBC) for a total disposal consideration of RM2,094.5 million satisfied via the issuance of 245.0 million new RHBC shares and cash of RM222.7 million. The disposal is to satisfy the acquisition. OSK now holds 9.88% equity interest in RHBC (OSK Holding Bhd, 2014). The Boards of Directors of OSK Holdings Berhad include:

1 Dato’ Nik Mohamed Din bin Datuk Nik Yusoff (Non-Independent Non-Executive Chairman) 2 Tan Sri Ong Leong Huat @ Wong Joo Hwa (Chief Executive Officer or Group Managing Director) 3 MR FOO SAN KAN (Senior Independent Non-Executive Director) 4 DATO' ABDUL MAJIT BIN AHMAD KHAN (Independent Non-Executive) 5 DR. NGO GET PING (Independent Non-Executive Director)

(OSK Holding Bhd, 2014)
Background of Shell Refining Company (SRC) Berhad (4324.KL)
Shell Refining Company (Federation of Malaysia) Berhad is one of the companies of industrial products industry in Malaysia. Its principal activities are to refining and manufacturing of petroleum products like liquefied petroleum gas, lube oils, and bitumen. It was formed in 1960 with paid up capital of RM 300 million and is now a public listed company with 49% public participation.  Shell was listed on the Main Board of Kuala Lumpur Stock Exchange on 29 October 1962. It operates with state-of-the-art technology and is the key supplier to Shell's Oil Products' businesses in Malaysia (Shell, 2014). The vision of SRC is to be the top performing and most admired refinery in Asia. And, their mission is to continuously deliver shareholder value by manufacturing and supplying oil products and services that satisfy the needs of customers, constantly achieving operational excellence, conducting their business in a safe, environmentally sustainable and economically optimum manner, and lastly employing a diverse, innovative and results- oriented team motivated to deliver excellence (Shell, 2014). The boards of directors of Shell include:

1) Iain John Lo (Chairman)
2) Dato’ Haji Rozano bin Saad (Managing Director and Executive Director) 3) Amir Hamzah bin Abu Bakar (Managing Director and Executive Director) 4) Arnel Lamco Santos (Non-Independent and Non-Executive Director) 5) Dato’ Seri Talaat bin Husain (Senior Independent and Non-Executive Director) 6) Tan Sri Datuk Clifford Francis Herbert (Independent and Non-Executive Director) (Refer to Appendix 1) In year 2013, SRC had a higher loss of RM155.9 million compared to 2012 of RM94.6 million due to the weakened refining margins of the factors of global economics continued to be weakened with European Region still suffering from European crisis, US economy was weak and just starting to show recovery end of the year 2013, geopolitical tension in the Middle East and...
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