VOVNEWS.VN
Sacombank Securities Company (Sacombank-SBS) plans to open several new overseas offices to boost its business with the first one beginning its operations early next year, according to a company official.
“We plan to open a securities company in Cambodia in early 2010 as the country is scheduled to inaugurate its stock market in January,” General Director Nguyen Ho Nam told the English-language newspaper Vietnam News.
Another securities company is planned for Laos, which is expected to open its first stock exchange in October 2010, according to Nam.
In the long-term, he wants the company to establish a presence in a number of major markets including Singapore and the US by setting up offices to attract capital to Vietnam. He told a meeting on Sept. 1 that his company would follow the investment bank model to improve its customer services both inside and outside Vietnam.
“We have established relations with many world renowned investment banks including Citibank, HSBC, Deutsche Bank, JP Morgan Chase, Mitsubishi UFJ Capital and Daiwa Securities SMBC, whose experience we can learn from,” said Nam. He added that these new relationships would also help to expand the number of channels through which the company can distribute its products.
He said that his company was currently in the process of developing a line of new products, which are expected to be available before the year’s end to satisfy customers’ investment demands.
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