Money Moves

Multinational pushes expansion plans in spite of economic slowdown

by Sophie Leung

Stephen Hui, chief executive officer
OSK Asia Holdings Limited
Photo: Wallace Chan

The US sub-prime crisis has affected many global companies, with some recording substantial losses and plummeting investor confidence.

However, one large financial and investment services company, OSK Asia Holdings Limited, is taking this opportunity to develop its business capabilities and to recruit new staff. "Nothing will stop us from developing our business and delivering increasingly better service to our customers. The current inactive market gives us time to focus on recruitment and to plan our long-term development," Stephen Hui, chief executive officer, OSK Asia, remarks.

The company is a member of the OSK Group, a subsidiary of OSK Investment Bank Berhad whose parent company, OSK Holdings Berhad, is listed on the Bursa Malaysia.

Mr Hui is confident about the company's future. "Our parent company is a first-tier stockbroker and regarded as one of the best financial services companies in Malaysia. Our brand and overseas support inspire confidence in our customers."

Since its establishment in Hong Kong in 2005, OSK Asia has gained a strong foothold in the local market. "We have built an outstanding track record in retail securities and other financial products in Malaysia over more than four decades. Our experience in the industry is transferable to other Asian markets and it helps to consolidate our success in Hong Kong and other regional offices," he says.

A few years ago, OSK Asia developed an electronic portal for products trading in Malaysia. The company has replicated the model for the Hong Kong market, which helped speed up its start-up operation.

Today, the parent company offers a wide range of financial services, including stockbroking, equity financing, futures trading and corporate finance. Since becoming a licensed investment bank in Malaysia about a year ago, the company has expanded its business in large-denominated deposits.

OSK Asia has more than 50 offices across Malaysia, with additional presence in Hong Kong, Singapore and Shanghai. The Hong Kong office is a strategic base for exploring the mainland market, as the city's location and free economic system make it the best entry point to greater China, Mr Hui explains. "The Hong Kong operation has also supported the launch and activities of the Shanghai office, again demonstrating the benefits of synergy within the group," he says.

With solid support from the parent company, OSK Asia plans to explore new business sectors later this year, including asset management, precious metal trading and wealth management.

The company is seeking high-calibre candidates for both back-office and frontline positions, particularly experienced mid-level analysts and fund managers. "We are taking a gradual approach as we focus on quality rather than quantity. We are looking for candidates with integrity who preferably already have extensive business networks," he notes.

Taken from Career Times 10 October 2008, p. A8
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