Brokerages take chairs on exchange

HCM City (VNA) - 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.-Enditem