Amanahraya Investment Bank Ltd, Labuan Makes Its Debut
KUALA LUMPUR, 23 July 2007 – Malaysia’s growing presence in offshore banking has been given another major boost with the official launch of AmanahRaya Investment Bank Ltd, Labuan.
AmanahRaya Investment Bank Ltd, Labuan, a wholly-owned subsidiary of AmanahRaya Berhad, aims to make a strong footing in offshore investment banking apart from contributing to the development of Labuan as an offshore financial centre of choice for conventional and Islamic products and services.
Incorporated in December 2006, AmanahRaya Investment Bank Ltd, Labuan offers both offshore investment banking – corporate finance and advisory services – as well as private banking – fund management services, serving the needs of the increasing number of high net-worth individuals and to take advantage of the global wealth boom.
The offshore investment bank was launched by the Finance Minister II, Malaysia, Tan Sri Nor Mohamed Yakcop. Also present at the launch were Director-General of Labuan Offshore Financial Services Authority, Y Bhg Dato’ Azizan Abd Rahman; Chairman of AmanahRaya Bhd, Dato’ Haji Dusuki Ahmad; Chairman of AmanahRaya Investment Bank Ltd, Labuan, Tan Sri Datuk Arshad Ayub; Group Managing Director of AmanahRaya, Dato’ Ahmad Rodzi Pawanteh and Director of AmanahRaya Investment Bank Ltd, Labuan, Datuk Mohamed Azahari Kamil.
“The debut of AmanahRaya Investment Bank Ltd, Labuan will open up more opportunities for us to expand our horizons and enable us to introduce more innovative products and services,” said AmanahRaya Investment Bank Ltd, Labuan Chairman, Tan Sri Datuk Arshad Ayub.
“We have the expertise drawn from our collective experience, knowledge and understanding of the business. AmanahRaya Investment Bank Ltd, Labuan will provide us the platform to start moving forward aggressively and making a name for ourselves in offshore investment banking.”
Tan Sri Datuk Arshad said that AmanahRaya Investment Bank Ltd, Labuan would like its clients to see the bank as their global partner and the preferred offshore investment bank, adding the bank had the capacity and support to handle and manage major international deals.
Since commencing business, AmanahRaya Investment Bank Ltd, Labuan has made an impressive start, undertaking 6 major deals worth over US$1.76 billion.
The major deals and transactions include:
- Technical advisor and placement agent for a US$135 million Index Linked Deposit with the Royal Bank of Scotland.
- Adviser and Structurer for US$100 million unfunded swap with Maybank Berhad
- Technical advisor as well as placement agent for the issuance of a EUR580 million Collateralized Debt Obligation, Wakefield Tower in collaboration with Washington Square Investment Management.
- Financial advisor for the setting up of a US $250 million Regional Real Estate Investment Trust, expected to be listed on the Singapore Exchange by end of 2007.
- Co Advisor and Manager to the establishment of the US$200 million Islamic Real Estate Development Fund, AL NIBRAS.
- Technical advisor for a US$300 million fund linked structured products, US Dollar VPPP Index Swap by Goldman Sachs Financial Products Limited.
Tan Sri Datuk Arshad Ayub said AmanahRaya Investment Bank Ltd, Labuan had built a pool of established global partners and these include the Macquarie Group, Goldman Sachs International, Royal Bank of Scotland, Kuwait Finance House and Faisal Private Bank of Switzerland.
The future, he added, looked very promising for AmanahRaya Investment Bank Ltd, Labuan and that the bank was optimistic about its growth potential on the back of the upbeat global economic outlook.
He also said Labuan had emerged as a vibrant international offshore financial hub, gaining widespread international recognition, thanks to its world-class infrastructure supported by Malaysia’s strong offshore banking and financial system, and regulatory regime.
About AmanahRaya Investment Bank Ltd, Labuan
AmanahRaya Investment Bank Ltd, Labuan is a licensed offshore investment bank under the auspices of the Labuan Offshore Financial Services Authority (LOFSA). A wholly-owned subsidiary of AmanahRaya Berhad, AmanahRaya Investment Bank Ltd, Labuan has a paid-up capital of US$2.82 million and commenced operations in December 2006. It has its head office in Labuan and a marketing office in Kuala Lumpur. AmanahRaya Investment Bank Ltd, Labuan offers a full range of services, including corporate advisory services in cross-border mergers and acquisitions and non-Ringgit financing (investment banking) and foreign currency funds management and third party offshore funds (private banking).
About AmanahRaya Bhd
AmanahRaya Bhd, formerly known as the Department of Public Trustee and Official Administrator, is the oldest and premier trust company in Malaysia. It commenced operations on 1 May 1921 and has served the nation for over 85 years as Malaysia’s leading provider of trust and estate administration, legacy services and wills services. The Department was corporatised on 29 May 1995 and renamed AmanahRaya Bhd on 1 Aug 1995.
Today, AmanahRaya Bhd, a wholly-owned subsidiary of the Minister of Finance Inc, has four core businesses, covering:
Capital Markets and Financial Services – asset management, investment banking, unit trust operation and retail banking.
Trustee Services – corporate trusteeship services, custodial, nominee services for local and offshore markets.
Legacy Services – comprehensive legacy services, including wills writing, registration, custodial and execution.
Property Services – property management, project management and property development.
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