Evergreen Group Announces Strategic Partnership With UbbIB Amid Acquisition Process

Evergreen Group will sign a Strategic Partnership Agreement with UBB Investment Bank Limited (UbbIB), a prominent licensed investment bank headquartered in Malaysia on June 21, 2024.

This strategic partnership signifies Evergreen Group’s intent to enhance its presence and operations in Malaysia. As part of the agreement, Evergreen Group is in the final stages of processes to acquire a stake in UbbIB from UBB Amanah Berhad. This partnership sets the stage for future collaboration, knowledge sharing, and potential merger and acquisition activities.

“Our vision of entering Malaysia is to become a thought leader in the financial sector. By entering this strategic partnership, we are poised to unlock a wider spectrum of opportunities and fortify our presence as a leading investment bank,” said David Yong, CEO of Evergreen Group Holding.

The collaboration includes initiatives in digital banking and fund management to support Evergreen Group’s financing business across Asia. This partnership aims to provide greater flexibility and opportunities for Evergreen Group’s clients and significantly expand its footprint in the Malaysian market. It is expected to benefit the local community and economy through financing projects with government agencies and the private sector.

“The Malaysian market holds significant untapped potential, and we are eager to contribute our expertise to add value to both UbbIB and the economy of Malaysia,” stated Desmond Sim, COO of Evergreen Group Holding.

Meanwhile, Aida Othman, CEO of UBB, and Razlan Raghazli, CEO of UbbIB, expressed their enthusiasm for the partnership, highlighting the mutual benefits and growth opportunities it presents for both institutions.

Established in the 1990s, Evergreen Group has evolved from a timber processing and trading company to a multinational enterprise with diversified businesses in financial institutions, automotives, real estate, and lifestyle industries. The group’s exceptional track record has garnered attention, including a feature in Forbes US for resilience during the pandemic.

The signing of this Strategic Partnership Agreement marks a pivotal step in Evergreen Group’s mid-term goal of becoming a leading player in the investment banking sector, opening up opportunities for investors in the Southeast Asia region. The group aims to inspire confidence among its investors and partners, showcasing its growth and strategic vision.

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