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Bank of Singapore buys Malaysian investment firm to capture onshore wealth

Bank of Singapore — the private banking subsidiary of OCBC Bank — has entered into a conditional agreement to acquire Malaysia-based Pacific Mutual Fund Berhad (PMF) for approximately RM35.6 million, as part of its plans to capture nascent opportunities in the ASEAN country. “Pending regulatory approvals, the acquisition of PMF will enable us to deepen our presence in Malaysia —…

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