Sure they are. Why not?

Then that is their perception on an asean level. For all intent purposes, the outfits are deemed investment banks albeit for local coverage. Foreign banks ib outfits are ill placed to compete against the local banks... lacking the balance sheet and what I possibly guess support from bnm. I understand where you are coming from though , although it does sound condecending. Put it this way - its not uncommon for us in the local scene to approach the sg banks for really simple back to back products.