Evergreen and UBBIB Sign Strategic Partnership, Paving the Way for a Multimillion-Dollar Transformative Merger

Kuala Lumpur, June 26, 2024 — Evergreen Group Holdings and UBB Investment Bank Limited (UBBIB) have initiated a groundbreaking collaboration by ratifying a strategic partnership agreement on Friday, June 21, 2024. This pivotal move marks the first step in an acquisition process where Evergreen Group will acquire a stake in UBBIB, setting the stage for an expanded presence in Malaysia’s financial sector.

Desmond Sim, COO of Evergreen Group Holdings, emphasised the significance of the event, stating, “Today is a landmark moment for Evergreen Group. Our strategic partnership with UBBIB is a major stride towards our vision of becoming a leading investment bank. We are eager to leverage the opportunities this alliance brings, particularly in digital banking and fund management.”

“The Malaysian market is rich with untapped potential, and we are excited to bring our expertise to contribute to the growth of UBBIB and the broader Malaysian economy,” added Sim.

Echoing this sentiment, Encik Razlan Raghazli, CEO of UBBIB, remarked, “This partnership is a milestone in UBBIB’s history. A collaboration between two giants with a similar vision of being a leading Investment Bank in the ASEAN region. By integrating our strengths with Evergreen’s extensive experience, we aim to enhance cross-border investment banking activities and drive innovation and growth throughout the Southeast Asia region.”

Aida Othman, CEO of UBB Amanah Berhad, expressed her enthusiasm, “Welcoming Evergreen into our fold is a significant advancement. Combining our core principles with Evergreen’s expertise will fortify our vision of establishing ourselves as a premier offshore banking hub.”

The signing ceremony underscored the mutual benefits and growth opportunities of this partnership, focusing on enhancing operational capabilities and expanding market presence for both entities. The collaboration is a testament to the shared vision and cooperative spirit of Evergreen Group and UBBIB.

“Evergreen Group’s expertise and experience across Asia will create added synergy and open new horizons for UBBIB,” noted David Yong, CEO of Evergreen Group Holdings.

For media enquiries or further information, please contact:

Jolene Low
Evergreen Group Holdings Pte Ltd
admin@evergreenassets.asia
+65 6292 2388

133 Cecil Street

#10-02/02A Keck Seng Tower

Singapore 069535

www.evergreengroupholdings.com

About Evergreen Group Holdings Pte Ltd

Founded in the 1990s Evergreen Group Holdings has expanded its presence from Singapore to Japan, South Korea, Hong Kong, Cambodia, Vietnam and Malaysia.

Initially focused on timber processing and trading, Evergreen Group Holdings boasts a track record spanning over three decades. Over time, the company has transformed from a timber-focused business into a multinational enterprise. Today, its diversified portfolio includes financial institutions, automotive ventures, real estate, and lifestyle industries, reflecting its continuous growth and evolution. The group’s exceptional track record has earned it recognition, including a feature in Forbes US for resilience during the pandemic.

Source: Evergreen Group Holdings

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