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RHB Hong Kong Limited

RHB Hong Kong Limited ("RHBHK") is now a member of RHB Group upon the acquisition by RHB Capital Bhd of 100% equity interest in OSK Investment Bank on 9 November 2012.

RHBHK is a wholly owned subsidiary of RHB Investment Bank Bhd and its ultimate parent company, RHB Bank Bhd, is a listed company in Bursa Malaysia (the Stock Exchange of Malaysia), who assume the listing status of RHB Capital Bhd on 28 June 2016. RHBHK was incorporated in Hong Kong by OSK Group in 2004. In July 2005, RHBHK completed its acquisition of Prudence  Securities Co. Ltd and changed its name to OSK Securities Hong Kong Limited. OSK Securities Hong Kong Limited changed its name to RHB Securities Hong Kong Limited upon completion of merger between RHB Investment Bank Bhd and OSK Investment Bank Bhd. RHB Futures Hong Kong Limited was incorporated in September 2005 to offer futures trading and is a wholly owned subsidiary of RHBHK.

RHBHK and its subsidiaries provide investment advisory services, capital raising, stock broking and derivatives trading services catering both retail clients and institutional investors. Online trading was offered to the public through the internet portal rhbinvest.com.hk since mid 2006, initially covering the Hong Kong market and was extended to other international financial markets for global futures products in early 2007.

Going forward, RHBHK will enchance its investment banking related services, in line with the development of related services in RHB Investment Bank. Capitalizing on the strong support from RHB Group, a leading banking group in Malaysia, coupled with the strategic position of Hong Kong in the regional financial markets, we have competitive advantages in offering cross-border financial service among Hong Kong and major Asian cities including China.


RHB SECURITIES HONG KONG LIMITED

and

RHB FUTURES HONG KONG LIMITED
(collectively, “the Companies”)

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NOTICE OF CESSATION OF BUSINESS AND ADJOURNED COURT HEARING
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NOTICE IS HEREBY GIVEN in accordance with an Order given by Deputy High Court Judge Winnie Tsui on 4th February 2021 in chambers in the High Court of the Hong Kong Special Administrative Region, Court of First Instance, Miscellaneous Proceedings No. 2310 of 2020, that:
 

  1. The Companies intend to cease their business operation in Hong Kong.
  2. With a view to revoking their licenses with the Securities and Futures Commission and hence winding up their businesses thereafter, the Companies are required to make an application of payment into Court of all the unclaimed assets that have been held by the Companies as trustee on behalf of their clients under Sections 56 and 62 of the Trustee Ordinance (Cap 29) and Order 92 of the Rules of High Court (Cap 4A) (“the Application”).
  3. A court hearing in the matter of the Application was held on 4th February 2021 in which the Judge in Chambers ordered that the hearing be adjourned to a date to be fixed.
  4. In pursuance of the matters stated in paragraph 2 hereinabove, the Companies have since December 2019 issued notices and announcements through various mediums including email, postal and telephone correspondences pertaining to the Companies intention to deal with the said assets.
  5. The Companies hereby give a final notice  that unless you reach out to the Companies within 28 days  hereof by providing the Companies with a constructive response as to how you intend to deal with and/or transfer the monies and/or securities held by the Companies on your behalf and by executing the necessary documents and/or instructions for the dealing with and/or transferring of the said monies and/or securities, you shall deemed to have knowledge that the said monies and securities will be paid into the Court as unclaimed assets and that you have consented to the same being paid into the Court.
  6. In the event that your monies and/or securities with the Companies are paid into the Court as aforesaid, you may apply to the Court directly thereafter to claim back your assets. If your monies and/or securities remain unclaimed for a period of 5 years, the Chief Justice may order such sum to be transferred to the general revenue of Hong Kong pursuant to Rule 23 of the High Court Suitors’ Funds Rules (Cap 4B).


Dated this the 11th day of February 2021.

                                                                                                                    RHB SECURITIES HONG KONG LIMITED

                                                                                                                                                 and

                                                                                                                       RHB FUTURES HONG KONG LIMITED
 



With reference to our previous written notices to customers, phone and email communications, RHB Hong Kong Limited and its subsidiaries [1] (collectively, RHB Hong Kong Group) intend to cease their business operations in Hong Kong. We hereby update that our business cessation date will be on 31 July 2020.
 
As has previously been communicated to our customers, RHB Securities Hong Kong Limited (“RHBSHK”) and RHB Futures Hong Kong Limited (“RHBFHK”) intend to apply to the High Court of Hong Kong shortly to transfer their respective customers’ unclaimed assets into the High Court of Hong Kong pursuant to section 62 of the Trustee Ordinance (Cap.29). For those clients who have  yet to provide instructions to RHBSHK and/or RHBFHK to transfer or withdraw assets, please contact us before 31 July 2020.
 
RHBSHK and RHBFHK’s contact details are as follows:
 
Address:    12/F Hip Shing Hong Kowloon Centre, 192-194 Nathan Road, Jordan, Kowloon, Hong Kong
Hotline:      (852) 2103 5657 / (852) 2525 1118
Fax:             (852) 2810 0908
Email:          rhb.hk.support@rhbgroup.com



[1] RHB Securities Hong Kong Limited, RHB Futures Hong Kong Limited, RHB Finance Hong Kong Limited, RHB Capital Hong Kong Limited, RHB Fundamental Capital Hong Kong Limited (deregistered), RHB Asset Management Limited, RHB Wealth Management Hong Kong Limited and RHB (China) Investment Advisory Co Ltd.
 

IMPORTANT NOTICE
INTENDED APPLICATION BY RHB SECURITIES HONG KONG LIMITED (“RHBSHK”) AND RHB FUTURES HONG KONG LIMITED (“RHBFHK”) TO TRANSFER THEIR RESPECTIVE CLIENTS’ UNCLAIMED ASSETS INTO THE HIGH COURT OF HONG KONG
   
From 9 December 2019, RHBSHK and RHBFHK contacted their respective clients by way of written notices to each client’s last known address, email, by posting website announcements and by phone to inform the clients that RHBSHK and RHBFHK intend to cease all business operations in Hong Kong by 30 June 2020 and to obtain the clients’ instructions to transfer or withdraw their assets held by RHBSHK and/or RHBFHK.
 
RHBSHK and RHBFHK also sent written notices to their respective clients to inform them that their client agreement with RHBSHK and/or RHBFHK (as applicable) would be terminated on 31 March 2020, 28 April 2020 or 29 May 2020 (as applicable to the particular client). Those client agreements were terminated accordingly.
 
RHBSHK and RHBFHK intend to apply to the High Court of Hong Kong shortly to transfer their respective clients’ unclaimed assets into the High Court of Hong Kong pursuant to section 62 of the Trustee Ordinance (Cap.29). For those clients who have not yet responded to or received RHBSHK and/or RHBFHK’s written notices, please contact RHBSHK and/or RHBFHK immediately.
 
RHBSHK and RHBFHK’s details are:
 
Address:    12/F Hip Shing Hong Kowloon Centre, 192-194 Nathan Road, Jordan, Kowloon, Hong Kong
Hotline:      (852) 2103 5657 / (852) 2525 1118
Fax:             (852) 2810 0908
Email:          rhb.hk.support@rhbgroup.com
 
RHB Securities Hong Kong Limited and RHB Futures Hong Kong Limited




NOTICE TO CUSTOMERS
 
Dear customers
Important announcement
After careful consideration, a difficult decision has been made by RHB Hong Kong Limited (RHB Hong Kong) and its subsidiaries[i] (collectively, RHB Hong Kong Group) to cease their business operations (Proposed Cessation). RHB Hong Kong is a wholly-owned subsidiary of RHB Investment Bank Berhad (RHB Investment Bank), which in turn is wholly-owned by RHB Bank.
The increasingly challenging operating broking environment in Hong Kong has resulted in losses being recorded for RHB Hong Kong Group. As a result, it is no longer viable for RHB Hong Kong Group to continue its business operations. The Proposed Cessation would allow RHB Investment Bank to refocus efforts and resources in driving long-term growth in other ASEAN markets in line with the larger RHB Banking Group’s FIT22 strategy.
Timing
Subject to relevant regulatory obligations being complied with and barring any unforeseen circumstances, the Proposed Cessation is expected to be completed by the 2nd quarter of 2020.
What does this mean for customers
The RHB Hong Kong Group is committed to meeting their obligations to their customers pursuant to the terms and conditions entered into with their customers (Customer Agreements). RHB Hong Kong Group will also continue to act in accordance with all applicable laws, rules, regulations, guidelines, requests, and/or recommendations of public and regulatory organisations or authorities.
The RHB Hong Kong Group's relationship with each of its customers will continue until such time as it is terminated in accordance with the terms of the relevant Customer Agreement. The RHB Hong Kong Group may facilitate the transfer of some customers to other financial services providers. Such customers will be notified, and consent obtained, as necessary.
In the meantime, customers have the option to terminate their relevant Customer Agreement by giving written notice in accordance with the terms of the Customer Agreement.
RHB Investment Bank will provide support to ensure an orderly winding down of the RHB Hong Kong Group's business operations.
Further information
We will provide further information to customers in due course. In the meantime, please contact your usual RHB contact or our hotline at (852) 2103 5657 / (852) 2525 1118 should you have any queries.
Thank you for being a valued customer.
Yours faithfully


[i] RHB Securities Hong Kong Limited, RHB Futures Hong Kong Limited, RHB Finance Hong Kong Limited, RHB Capital Hong Kong Limited, RHB Fundamental Capital Hong Kong Limited (deregistered), RHB Asset Management Limited, RHB Wealth Management Hong Kong Limited and RHB (China) Investment Advisory Co Ltd.





IMPORTANT NOTICE

In order to give our valuable client better services, RHB HK enhance internet trading system and have proudly launched new equity trading platform - RHB HK iwtrader.

RHB HK staff never ask client for Username and Password by email or by phone.