PUBLISHED ONJuly 03, 2024 5:06 PM
Evergreen Group Holdings partners with UBB Investment Bank, acquiring a significant stake to expand into Malaysia's financial sector, focusing on digital banking, fund management, and sustainable growth.
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Evergreen Group Holdings and Malaysian investment bank UBB Investment Bank Limited (UBBIB) entered into a strategic partnership on June 21, 2024. Evergreen Group is set to acquire a significant stake in UBBIB.
The Rationale Behind the Partnership
David Yong, CEO of Evergreen Group Holdings, discussed the motivations behind this partnership.
"The partnership with UBBIB is a calculated step in our strategic expansion plan. Malaysia's financial sector holds immense potential, and by joining forces with UBBIB, we can tap into new markets and enhance our service offerings. This collaboration allows us to combine our expertise and resources to better serve the Malaysian market and beyond."
Potential Benefits for Both Entities
Yong elaborated on how this partnership is expected to benefit both Evergreen and UBBIB.
"For Evergreen, the partnership means access to a new market with considerable growth opportunities. We can bring our extensive expertise and innovative practices to Malaysia, enhancing our operational capabilities and service offerings. This partnership will allow us to leverage UBBIB's local market knowledge and established client base, which is invaluable for our expansion strategy."
"For UBBIB, partnering with Evergreen means access to our broad network and resources across Asia. This can significantly enhance their operational efficiency, introduce new financial products, and improve service delivery to their clients. By working together, we can achieve greater scale and scope, enhancing our competitive edge in the region."
"Additionally, this collaboration will enable UBBIB to benefit from our digital banking and fund management expertise. We plan to integrate advanced technologies and innovative financial solutions into UBBIB's operations, driving growth and creating value for their stakeholders. Ultimately, the synergies created by this partnership will foster a stronger, more resilient financial institution capable of navigating the complexities of the Asian market."
Strategic Synergies and Innovation
Yong highlighted the strategic synergies that the partnership is expected to bring.
"Evergreen’s extensive experience in diverse markets across Asia provides us with unique insights and capabilities. By integrating our strengths with UBBIB’s established local presence, we can foster innovation in areas such as digital banking and fund management. Our goal is to create new financial products and services that meet the evolving needs of our customers, while also driving operational efficiency and profitability."
Impact on Digital Banking and Fund Management
Digital banking and fund management are key areas of focus for this partnership. Group COO Desmond Sim discussed how Evergreen’s expertise in these fields will benefit UBBIB.
"Digital banking is revolutionising the financial industry, and our experience in this domain will be invaluable to UBBIB. We plan to introduce advanced digital banking solutions that enhance customer experience and streamline operations. In fund management, our strategic insights and robust risk management practices will help UBBIB offer better investment products, attract more clients, and grow their assets under management."
Commitment to Sustainability and Community Development
Sim emphasised Evergreen’s commitment to sustainability and its positive impact on local communities.
"At Evergreen, we believe in sustainable growth that benefits not only our business but also the communities we operate in. Our partnership with UBBIB will focus on initiatives that promote economic development, create jobs, and support local businesses. We are committed to investing in sustainable projects and practices that contribute to long-term economic stability and environmental stewardship."
Future Expansion Plans
Looking ahead, Yong shared Evergreen's plans for future expansion beyond Malaysia.
"This partnership is just the beginning. Our vision is to establish a strong presence across the Asian region. We are looking at opportunities in other Southeast Asian countries where we can replicate our successful model. By expanding our footprint, we aim to create a robust network of financial services that support cross-border investments and economic integration."
Enhancing Operational Capabilities
The strategic partnership aims to enhance the operational capabilities of both entities. Yong discussed the planned improvements and innovations.
"One of the key focuses of this partnership is to enhance our operational capabilities. We plan to leverage advanced technologies and innovative approaches to improve efficiency and deliver superior services to our clients. Our expertise in fund management across Asia will be crucial in achieving these goals. Additionally, we will work closely with UBBIB to integrate best practices and streamline operations, ensuring that we remain competitive and agile in the dynamic financial landscape."
Vision for the Asian Financial Sector
Yong outlined his vision for the broader Asian financial sector and Evergreen’s role in it.
"Our ultimate goal is to play a pivotal role in shaping the future of Asia’s financial sector. We envision a region where financial services are seamlessly integrated, supporting economic growth and development. Through strategic partnerships like the one with UBBIB, we aim to drive innovation, set new standards of excellence, and contribute to a more dynamic and resilient financial ecosystem in Southeast Asia."
Addressing Recent Reports
Yong also took the opportunity to address some recent media coverage, stating, "There were various inaccurate reports about our group and myself. I note that the relevant publications have issued public apologies or retracted these reports. Our focus remains on the journey ahead."
What’s next?
The strategic partnership between Evergreen Group Holdings and UBB Investment Bank Limited marks a significant step forward for both entities. With a shared vision of becoming leading investment banks in the Asian region, this collaboration is set to drive growth and value creation.
David Yong concluded with an optimistic outlook on the long-term prospects of the partnership.
"We see this partnership as a stepping stone to broader regional influence. Our goal is to create a robust financial ecosystem that supports sustainable growth and innovation. We are committed to investing in local talent, fostering entrepreneurial ventures, and driving economic progress."
Contact Info:
Name: Jolene Low
Email: Send Email
Organization: Evergreen Group Holdings
Website: https://evergreengroupholdings.com/
Release ID: 89134561
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