Singapore’s Templeton to open rep. office

Thursday, May 8, 2008
Singapore-based Templeton Asset Management Ltd has begun operations in Viet Nam under a representative office in Ho Chi Minh City approved by the State Securities Commission (SSC).
The office is allowed to cooperate with Vietnamese enterprises related to the securities market as well as promote the implementation of contracts between Templeton and Vietnamese financial institutions.
Templeton’s representatives, approved to work in Viet Nam for an initial five years, intend to launch an enterprise scholarship project which invests in fledgling Vietnamese firms involved in the local securities market.
During its term of operation in Viet Nam , the Templeton representative office is not allowed to implement any securities investment or trading in the local market, neither may it offer securities services such as brokeraging or consulting in the local exchange. (VNA)