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ICB Financial Group Holdings AG

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In brief

ICB Financial Group Holdings AG (ICB) an investment holding company. Its principal activities mainly comprise commercial banking operation. On February 7, 2007, the Company disposed of its entire equity interest of 4.99% in Bank Thai Plc. On February 28, 2007, the Company increased its equity interest in ICB Global Management Sdn. Bhd. to 100%. On December 5, 2007, the Company entered into a sale and purchase agreement (SPA) to dispose of its entire equity interest in Sorak Financial Holdings Pte. Ltd. (Sorak). The disposal was completed on January 8, 2008. On February 28, 2008, ICB entered into a share sale and purchase agreement (SSPA) to acquire a 50.1% equity interest in The Oriental Bank Limited. The acquisition was completed on March 4, 2008.