Will OCBC's offer to buy the remaining of PacificMas help develop greater business synergies between Singapore and Malaysia?

Singapore's Oversea-Chinese Banking (OCBC), the smallest of the three Singapore banks, said it has offered to buy the rest of Malaysian insurer PacificMas Bhd for 4.30 ringgit per share, a 23 percent premium to PacificMas's closing price. OCBC said it and its subsidiaries currently own 28.15 percent of PacificMas.The offer is conditional upon OCBC securing more than 50 percent of the voting shares in PacificMas and regulatory approvals in Malaysia.

"By making the offer, OCBC group hopes to gain control of PacificMas so as to develop greater business synergies between its financial services businesses in Malaysia and the financial services businesses of PacificMas," OCBC said.

"The offer also provides an opportunity for other shareholders of PacificMas to realize their investments in PacificMas at a value above the current market price of PacificMas shares," it said.

While OCBC is obviously gaining by acquiring PacificMas, what does PacificMas have to gain from this offer?