Australia’s top investment bank sets sights on Singapore, says Singapore company incorporation

By Jacqueline Chia5 August 2010

Chief executive of Macquarie Group, Nicholas Moore, said that the investment bank sees growth opportunities in Asia, particularly Singapore, Hong Kong, Korea, China and India.

Mr James Nuben of AsiaBiz Services said that Macquarie sees great potential in Singapore’s rebounding and strong economy.

“Setting up offices in Singapore would further propel the current economy growth. If this is so, growth might be sustainable to the end of the year,” said Mr Nuben.

Mr Nuben added that Singapore is a pro-business country and Macquarie would not have difficulty relocating its talent to run the Singapore office.

The Singapore government recently announced that there is room for another 100,000 foreign workers to spur the economy.

“Applying for an employment pass for foreign staff is easily a one-stop process at AsiaBiz,” added Mr Nuben.

As Australia’s top investment bank continues to expand its investment banking operations globally, it expects its smaller lending and funds business to mitigate the negative earnings impact of weak markets.

“Some of our businesses like corporate and asset finance, funds management and banking are on course for robust growth, said Mr Moore.

“The share of these businesses will increase, adding to the stability.”

Mr Moore said that Macquarie remains on the lookout for acquisitions and has no plans to return any of it’s a$3.1 billion (US$2.8 billion) excess capital to its shareholders.

“With markets and expectations returning, acquisitions opportunities have diminished in the US, Europe has more potential and we may see a few deals there,” added Mr Moore.

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