DBS, Vickers merge Thai units

DBS, Vickers merge Thai units

BANGKOK (Dow Jones): The Thai securities arms of DBS Group Holdings Ltd. and Vickers Ballas Holdings Ltd. (P.VBH) will merge after the merger of their parents in Singapore, the DBS Thai Danu Bank PCL said.

Pornsanong Tuchinda, president of the DBS group's Thai commercial bank unit, said DBS Thai Danu Securities Co. Ltd. and Nava Vickers Ballas Securities Co. Ltd. would meet within the next few months to discuss the merger, The Nation newspaper reported Saturday.

Mergers of local units will also follow in Hong Kong, the Philippines and Indonesia, he said.