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Brokerages take chairs on exchange
SaigonBank Berjaya Securities Company (SBSC), a joint stock entity, began brokerage operation at the Ho Chi Minh Stock Exchange on Jan. 16, bringing the total number of such firms at the exchange to 92.
The company, with a charter capital of 300 billion VND (17.5 million USD), has the SaigonBank, Ky Hoa Tourism and Trading Company and Malaysia ’s Inter-Pacific Securities Company as strategic shareholders, with the Malaysian partner accounting for 49 percent.
SBSC offers securities brokerage services, research and analysis, under-writing, corporate finance and online share trading.
“We see Vietnam as having tremendous potential in capital market growth as the number of stock trading accounts currently open only represents 0.6 percent of the population.The stock market is just 15 percent of GDP compared to 45 percent in the region,” said Josephine Yei, SBSC general director.
She added that more than 800 State-owned enterprises are expected to be equitised over the next three years, which would offer opportunities for the securities business to further develop in the country.
Inter-Pacific has over 30 year of experience in the securities field, conducting brokerage services, share margin financing and investment management and consulting.
VNA
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