Deals
Quek’s Hong Leong Financial Scouts for Bank, Brokerage Buys
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Hong Leong Financial Group Bhd., the Malaysian banking and insurance group controlled by billionaire Quek Leng Chan, is seeking acquisitions in emerging markets as it aims to triple its assets and profits in five years.
The group, which has a 20 percent stake in China’s Bank of Chengdu Co. and a banking license in Vietnam, is looking for targets in countries including Thailand and Indonesia, Chief Executive Officer Raymond Choong, 55, said in an interview yesterday. The Kuala Lumpur-based firm may also buy brokerages in Malaysia, he said.