8/14/2019 TheSun 2009-10-16 Page15 Ocbc Buys Ings Asian Private Bank

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business15theSun | FRIDAY OCTOBER 16 2009

KLCI 1,246.86 0.02

STI 2,712.15 3.67

Hang Seng 21,998.08 112.60

SCI 2,979.79 9.26

Nikkei 10,238.65 178.44

TSEC 7,710.40 14.65

KOSPI 1,658.99 9.90

S&P/ASX200 4,859.90 28.80

Foreign currency Bank sell Bank buy Bank buy

TT/OD TT OD

1 US DOLLAR 3.3900 3.3250 3.3150

1 AUSTRALIAN DOLLAR 3.1320 3.0370 3.0210

1 BRUNEI DOLLAR 2.4490 2.3850 2.3770

1 CANADIAN DOLLAR 3.3260 3.2440 3.2320

1 EURO 5.0680 4.9650 4.9450

1 NEW ZEALAND DOLLAR 2.5570 2.4440 2.4280

1 PAPUA N GUINEA KINA 1.4240 1.1730 1.1570

1 SINGAPORE DOLLAR 2.4485 2.3850 2.3770

1 STERLING POUND 5.4350 5.3230 5.3030

1 SWISS FRANC 3.3540 3.2710 3.2560

100 ARAB EMIRATES DIRHAM 93.9100 88.9200 88.7200

100 BANGLADESH TAKA 5.2000 4.6610 4.4610

100 CHINESE RENMINBI N/A N/A N/A

100 DANISH KRONE 70.2600 64.5200 64.3200

100 HONGKONG DOLLAR 44.5100 42.1400 41.9400

100 INDIAN RUPEE 7.6300 7.0100 6.8100

100 INDONESIAN RUPIAH 0.0375 0.0330 0.0280

100 JAPANESE YEN 3.7970 3.7030 3.6930

100 NORWEGIAN KRONE 63.3600 58.1400 57.9400

100 PAKISTAN RUPEE 4.1900 3.8800 3.6800

100 PHILIPPINE PESO 7.4700 6.9900 6.7900

100 QATAR RIYAL 94.5100 89.9000 89.7000

100 SAUDI RIYAL 91.7700 87.2900 87.0900

100 SOUTH AFRICAN RAND 48.6700 44.5200 44.3200

100 SRI LANKA RUPEE 3.0500 2.8000 2.6000

100 SWEDISH KRONA 51.0300 46.3400 46.1400

100 THAI BAHT 10.8900 9.2300 8.8300

Source: Malayan Banking Bhd/Bernama

October 15, 2009EXCHANGE RATES

KL marketsummaryOCTOBER 15, 2009

FBMEMAS 8,394.07 +0.49FBM-KLCI 1,246.86 +0.02INDUSTRIAL 2,666.75 -0.37CONSUMER PRODUCT 370.08 +1.13INDUSTRIAL PRODUCT 93.49 -0.13CONSTRUCTION 238.14 -0.42TRADING SERVICES 160.79 -0.27FINANCE 10,526.13 -2.11

PROPERTIES 815.86 +2.02PLANTATIONS 6,075.01 +43.68MINING 316.12 (UNCH)FBMSHA 8,489.73 +14.89FBMACE 4,263.72 -5.30TECHNOLOGY 17.20 -0.05

INDICES CHANGE

TURNOVER VALUE

1.365bil RM1.472bil

Share prices closemixed, CI upSHARE prices on Bursa Malaysia closed mixedyesterday as investors took profit after earlygains.

The market opened on a stronger footingas sentiment was boosted by the strong rallyon Wall Street overnight which lifted the DowJones Industrial Average off the crucial 10,000level for the first time in more than a year onthe back of upbeat earnings news.

Follow-through buying in heavyweightspushed the benchmark FTSE Bursa MalaysiaKuala Lumpur Composite Index to hit an intra-day high of 1,256.59.

The market sentiment is still firm under-pinned by bullish overseas markets. Mild profittaking saw the FBM KLCI slipping below 1,250level in the afternoon session but it managedto finish the day in positive territory backed bylate buying, one dealer said.

At close, the FBM Emas Index added 0.49 ofa point to 8,394.07, the FBM Top 100 increased4.79 points to 8,176.04 and the FBM 70advanced 23.30 points to 8,281.00 but the FBMACE Index declined 5.30 points to 4,263.72. Bernama

OCBC buys INGs

Asian private bankSINGAPORE: Singa-pores Oversea-ChineseBanking Corp (OCBC)yesterday announced thepurchase of Dutch lenderINGs Asian private bank-ing business for US$1.46billion (RM5 billion).

OCBC Bank an-nounced Thursday that itreached agreement withING Bank N.V. to acquireits Asian private bankingbusiness ... for US$1.463billion in cash, the banksaid in a statement.

It said INGs assetscomprised Singapore-

based ING Asia PrivateBank Limited and its af-filiated entities across theregion. OCBC, one of threehomegrown Singaporebanks, said its acquisitionmarks a transformationalstep in its private bankingbusiness, which involvesmanaging the assets of theregions growing ranks ofmillionaires.

It will also more thantriple the banks privateclient assets under man-agement to US$23 billion(RM80.5 billion) andmake it one of Asias

leading private banks, thestatement said.

OCBC said Asia is thefastest growing privatebanking market in theworld, with assets undermanagement in the regionprojected to grow 12.8% ayear between 2008 and2013, higher than theglobal growth of 8.1%.

In Singapore, assetsunder management haverisen from US$50 billion(RM175 billion) in 2000to US$300 billion (RM1.05billion) in 2009, the banksaid. AFP

US complaints groundless: ChinaBEIJING:Beijing yesterday accused Washing-ton of launching baseless actions targetingChinese imports, as trade tensions simmerbetween the global giants one month beforeUS President Barack Obamas visit.

The US launched a large number oftrade remedy measures (against China) thisyear, commerce ministry spokesman YaoJian told reporters.

Quite a few such measures weregroundless and wrong.

China has been the target of 88 tradeactions by 19 countries this year including

16 by Washington alone, Yao said.The total value of the cases was US$10.2

billion (RM35.7 billion), with the US account-ing for 57% of that sum, Yao added.

Yao said China would formally discussthe cases with the US at the Joint Commis-sion on Commerce and Trade to be held laterthis month in the eastern city of Hangzhou.

The abuse of trade remedy measureswill only worsen the already hard tradeenvironment, he said.

We are firmly opposed to those ground-less cases. AFP