For Calvin Choi, chairman and CEO of AMTD, buying this property is a strong signal of the big plans he has for the company in Singapore and Southeast Asia — regardless of whether AMTD gets a virtual bank licence.
(Nov 11): AMTD Group is eyeing a virtual banking licence in Singapore but, before it has even put in an application, it has already established a significant physical presence in the city state.
On Sept 19, the Hong Kong-based, New York-listed financial institution spent $289 million to buy part of the OUE Downtown mixed-use development in a joint venture with Far East Consortium International. The JV purchased the Oakwood Premier serviced apartments and has renamed it Oakwood Premier AMTD.
