23:28 (GMT +7) - Friday 16/11/2018

Banking & Finance

Yuanta Securities debuts in Vietnam

Released at: 09:16, 30/10/2018

Yuanta Securities debuts in Vietnam

Photo: Yuanta Vietnam

Taiwanese securities firm to provide financial and securities services between Vietnamese and foreign companies.

by Hong Nhung

Yuanta Securities Vietnam, a subsidiary of Taiwan’s Yuanta Financial Holdings, officially debuted in Vietnam at a recent launch ceremony in Ho Chi Minh City.

Yuanta Vietnam affirmed its commitment to long-term investment and development in the country’s stock market. With advantages in business development, management experience, creativity, and effective financial products transferred from its parent, Yuanta Vietnam can also approach a huge regional customer network. With a foundation as a multinational financial group, especially in Asia, and experience in emerging markets, Yuanta said it will continue to promote its strengths in Vietnam.

“Yuanta Vietnam will connect investors in Asia and elsewhere to investment opportunities in Vietnam and vice-versa, acting as a bridge for Vietnamese companies to access international capital markets,” said Mr. Le Minh Tam, Chairman of Yuanta Securities Vietnam.

“We are also willing to share with local market regulators, as far as we can, our regional experience and operations, to exchange and access regulations, products, and good market practice of other securities markets in the region. We are ready to assist Vietnamese companies seeking strategic investors or listing in overseas markets.”

Yuanta Financial Holdings, originating from Yuanta Securities, was established in 1961 in Taiwan. It has researched, expanded and explored various financial solutions for sustainable development and is one of Taiwan’s major financial groups and increasingly expanding its operational network throughout Asia.

It has been involved in Vietnam’s securities brokerage business since 2006 after acquiring a 44.68 per cent stake in the First Securities Company, headquartered in southern Binh Duong province, and then increased its stake to 99.95 per cent in late 2017. The State Securities Commission of Vietnam approved the firm changing its name to Yuanta Securities Vietnam last February and it relocated its headquarters to Ho Chi Minh City.

Upon increasing its ownership in First Securities, Yuanta Securities Vietnam began to invest in technology, upgrading its systems and data centers, enhancing risk management, and establishing standard operating procedures (SOPs), as well as recruiting more talent, training and re-training staff, and developing new products.

Within a short period of time, it opened two more branches in Binh Duong and Dong Nai provinces, launched its online trading application, YSwinnwer, on both web-based and mobile platforms.

To date, Yuanta Securities Vietnam has opened five business locations. It plans to establish other branches in potential locations in northern Hai Phong city, central Da Nang city, the Mekong Delta’s Can Tho city, and other major cities.

In September, it increased its capital to $43 million, and it now has more than 140 professional staff.

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