Retail News CRM

Tag: Malayan Banking

  • KFC Malaysia parent plans IPO

    KFC Malaysia parent plans IPO

    KFC Malaysia parent QSR Brands (M) Holdings, is arranging an IPO next year expected to raise about US$500 million.

    The company, which has both KFC and Pizza Hut restaurant concessions in Southeast Asia,

    Citigroup, Credit Suisse Group and Malayan Banking will lead the offering. QSR has also chosen CIMB Group Holdings and RHB Bank to work on the share sale, reports the Business Times.

    The Kuala Lumpur-based company is seeking a listing after first-time share sales raised US$270 million this year.

    CVC, Employees Provident Fund and Johor Corp took QSR Brands private in 2013. It manages more than 730 KFC restaurants in Brunei, Cambodia, India, Malaysia and Singapore, as well as more than 450 Pizza Hut outlets in Malaysia and Singapore.

  • HSBC to locally incorporate its Singapore retail operations in May

    HSBC to locally incorporate its Singapore retail operations in May

    In order to follow new MAS regulations.

    HSBC will transfer its local retail banking and wealth management business, which is currently under the HSBC Singapore Branch, to a locally incorporated subsidiary, HSBC Bank (Singapore) Limited.

    The transfer of HSBC’s retail banking and wealth management business is expected to take effect on 9 May 2016, subject to the receipt of regulatory and court approvals.

    The move comes after Monetary Authority of Singapore tagged HSBC as one of seven domestic systemically important banks (D-SIBS). Under a new regulatory framework announced in April 2015, all D-SIBS should locally incorporate their retail operations to allow the MAS to set targeted and appropriate policy measures specifically for the systemically important banks.

    The other D-SIBS are DBS, OCBC, UOB, Citibank, Malayan Banking and Standard Chartered.

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