via Khmer NZ
Thursday August 5, 2010
PETALING JAYA: Hwang-DBS (M) Bhd told Bursa Malaysia that the Securities and Exchange Commission of Cambodia (SECC) had vide its letter dated Aug 2 granted an approval-in-principle to HwangDBS Securities (Cambodia) Plc, a wholly-owned unit of HwangDBS Commercial Bank Plc which in turn is wholly-owned by the company, to act as an investment advisory firm.
However, the board of HwangDBS Securities (Cambodia) Plc has decided to turn down the approval-in-principle licence due to the limited activities permitted.
“The application submitted to SECC was for a securities firm licence to undertake stockbroking, corporate finance, underwriting and investment advisory activities. With an investment advisory firm licence, HwangDBS Securities (Cambodia) is permitted to render advice to investors on investment in securities for a fee and publication of investment analysis on securities investment,” it said.
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