When a corporation wishes to obtain funds to finance its business activities, there are three avenues available - taking a loan from a bank (or a syndicated loan from a group of banks); increasing its capital by issuing new shares; or last but not least, issuing private debt securities. It is when the final option is chosen that we at OSK Trustees play a role. A corporation issuing private debt securities is required under the law to appoint a trustee, usually a trust corporation registered under the Trust Companies Act 1949 such as OSK Trustees to protect the interests of the investors by ensuring that the said corporation complies with the provisions under the trust deed as well as the provisions of the Securities Commission Act 1993. The term private debt securities includes bonds, notes, loan stocks and commercial papers, whether convertible into equity or not and whether redeemable or otherwise.