SCB X weighs options for $1.5bn asset management unitSCB X Plc is considering options including a sale of its asset management unit, people familiar with the matter said, amid growing industry consolidation in Southeast Asia’s second-largest economy. SCB X, formerly known as Siam Commercial Bank Plc, has been speaking with financial advisers to explore a potential transaction for SCB Asset Management Co, the people said, asking not to be identified because the matter is private. Considerations are at an early stage and SCB X could still decide against pursuing any deal, the people said. “Given the strategic importance of asset management, the company regularly evaluates strategic options, proposals, and opportunities which may involve consultation with external advisors,” SCB X said in an exchange filing on Monday. SCB Asset Management was set up in 1992 and manages mutual funds, provident funds and private funds, according to its website.

Source: Bangkok Post July 11, 2022 03:32 UTC