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.