Maybank KimEng Vietnam to be first 100% foreign owned securities company
Maybank KimEng Vietnam to be first 100% foreign owned securities company
Maybank Kim Eng Holdings said it had obtained the approval of theState Securities Commission to convert Maybank Kim Eng Vietnam into a single-member limited liability company -- making it the first 100% foreign owned securities company in Vietnam.
In a statement on Thursday, Maybank Kim Eng said it owns 48.55 % of Maybank Kim Eng Vietnam.
“Upon the approval granted by the SSC on Oct 7, 2013 Maybank Kim Eng Holdings will proceed to complete the transfer of the remaining 51.45% equity stake or a corresponding 15,435,000 shares held by four existing local shareholders and it shall then hold 100% equity stake in Maybank Kim Eng Vietnam,” it said.
Acting Head of Maybank Kim Eng Group John Chong said Vietnam is an important market for the group and he expects a long-term development of its business operations in the country.
Maybank Kim Eng Vietnam had also recently partnered with the SSC on Aug 28 to collaborate on joint initiatives that will contribute to the sustainable and long-term growth of Vietnam’s securities market.
Maybank Kim Eng started its operations in Vietnam since 2008. It offers a full range of financial services including brokerage, internet trading and research, investment banking and corporate finance advisory services. Today, it is ranked among the top 10 brokerages in the country.
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