(31-03-2008)
KUALA LUMPUR — Malaysia’s RHB Investment Bank, the investment arm of RHB Banking Group, will buy a 49-per-cent stake in Viet Nam Securities Co for about US$4.15 million, under an agreement announced by the bank on Saturday.
The move would mark RHB Banking Group’s entry into Viet Nam, Asia’s second fastest-growing economy after China, the announcement stated.
The bank further said that the partnership was timely as Viet Nam was entering a new phase of development, characterised by liberalisation of markets and the opening up of its economy to foreign trade and investment.
Viet Nam Securities Co is licensed to engage in securities brokerage, financial and investment consultanting services, investment portfolio management and securities depository services. — VNS
