Asia
ing sells malaysian fund management business
Kuala Lumpur headquartered asset manager Kenanga Investors has bought ING’s Malaysian fund management business, part of a strategic sell-off by ING which also saw it complete the sale of ING Malaysia to AIA Group earlier this week.
hong kong regulator fines deutsche securities
Hong Kong’s Securities and Futures Commission (SFC) has reprimanded Deutsche Securities Asia and fined it HK$2.5m ($322,600, 244,700) for regulatory breaches and internal control failings relating to position limit failures.
aig exits hk with sale of aia stake
US insurer AIG has sold its remaining 13.7% stake in AIA Group, finally exiting the business it founded in Hong Kong nearly a century ago.
standard chartered launches islamic platform
Standard Chartered Bank has launched an Islamic version of its online banking platform, Straight2Bank which will be offered in the United Arab Emirates, Bangladesh, Bahrain, Pakistan and Malaysia.
hsbce sells ping an stake to thai
HSBC Holdings is selling its entire stake in China’s Ping An Insurance (Group) of China to entities owned by Charoen Pokphand Group, in what was described as the bank’s largest divestment in more than 15 years.