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Dubai Investment Group and UOB Kay Hian take Strategic Stakes in Vietnam Asset Management Ltd.
Ho Chi Minh City, 26 th September 2007 - Vietnam Asset Management Ltd. (VAM), a premier fund management company primarily engaged in public and private equity investment and advisory services in Vietnam, is pleased to announce that Dubai Investment Group (DIG) and UOB Kay Hian Trading Pte Ltd (UOBKH) have become its Strategic Shareholders. The two financial institutions have also invested in VAM Vietnam Strategic Fund, which is managed by VAM...
John Lyn, VAM’s Executive Chairman, said: \"We are delighted to welcome Dubai Investment Group and UOB Kay Hian as strategic shareholders of VAM. DIG\'s and UOBKH\'s investments show their long-term commitment to the Vietnam equity market, and trust in our management. We are confident that this partnership will boost VAM’s growth and lend support to our various strategic initiatives, the most immediate of which is the planned listing of our Vietnam Emerging Market Fund (VEMF) where we plan to raise U$200 million from investors.”
Mr Wee Ee-chao, Chairman and Managing Director of UOB Kay Hian Holdings commented: \"The Vietnam Stock Exchange is a young exchange with enormous potential. Vietnam is a rapidly growing economy. The Vietnamese Exchange plays a vital role in facilitating the provision of capital to indigenous SMEs to fund their rapid business expansion in becoming regional MNCs of the future.
We believe that VAM has the rare attribute of having a highly skilled indigenous team who have trained internationally with the best in the trade grounded on global best practices. VAM is hence well positioned to harness the available opportunities from Vietnam\'s developing equities market.\"
Nguyen Xuan Minh, VAM\'s Chief Executive Officer added: “Our people are VAM\'s most valuable asset and it sets us apart from the competition in this frontier market. We are proud to have a strong team that combines excellent global investment expertise with in-depth local knowledge, and I am glad that reputable financial institutions such as DIG and UOBKH recognise that value in VAM. Our team is committed to follow the highest industry standards in investment due diligence, ethics, and corporate governance set by our strategic shareholders.”
\"DIG is pleased to become a strategic investor in VAM. We believe the pedigree of shareholders and management team of VAM will collectively serve as a sound platform for DIG’s long-term involvement in Vietnam’s fledgling capital markets and real economy,” said Abdulhakeem Kamkar, Chief Executive Officer of Dubai Investment Group.
About Vietnam Asset Management Ltd.
Vietnam Asset Management (VAM) is a premier fund management company primarily engaged in public and private equity investment and advisory services in Vietnam. VAM is managed by a team of investment professionals, who have in total more than 40 years of experience in the international and domestic financial industry, including public and private equity investment, investment banking and auditing. The company manages funds that invest in privatised, pre-listed and listed companies in Vietnam.
About Dubai Investment Group
UOB Kay Hian (UOBKH) is a regional broking and corporate finance services Group headquartered in Singapore. UOBKH is a widely recognised brand in every country it operates, a reputation built on its responsive and discreet service. In Singapore, UOBKH is the largest domestic broker based on the number of registered trading representatives enrolled in its institutional and retail sales force.
UOBKH’s regional distribution foot print now spans regional financial centres such as Hong Kong, Thailand, Indonesia, London and New York. In addition, it maintains research offices in Shanghai, Kuala Lumpur and an execution presence in Philippines.
Group wide, UOBKH employs approximately 1,922 professional and support staff globally.
For further information:
Nguyen Xuan Minh, CFA ([email protected])
Nguyen Hoai Thu, CFA ([email protected])
Vietnam Asset Management Ltd. Unit 11-08, Saigon Trade Center 37 Ton Duc Thang Street, District 1 Ho Chi Minh City, Vietnam Tel: +848 9103757; Fax: +848 9103794 www.vietnamam.com