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Singapore’s UOB Asset Management Ltd has completed its S$6.7 million (US$5.04 million) acquisition of VAM Vietnam Fund Management Joint Stock Company, a move that expands its operations to nine countries in Asia, including China, Indonesia, Japan, Malaysia, Taiwan and Thailand. The acquisition was announced on December 2, 2019. The Vietnamese firm, which had 114 billion dong ($4.95 million) of assets under management as of end-October 2019, will be renamed UOB Asset Management (Vietnam) Fund Management Joint Stock Company. Thio Boon Kiat, group chief executive officer of the Singapore asset manager, describes Vietnam as a “rising star” in Southeast Asia, and says the company can now offer its suite of solutions to institutional and retail investors there.

Republic ofIndonesia generalAssociation of southeast asian nationsAsset management ltdVietnam fund management joint stock companyManagement ltdFund management joint stock companyFund management joint stockBoon kiatSoutheast asiaSoutheast asian nationsகுடியரசு ஆஃப்இந்தோனேசியா ஜநரல்சங்கம் ஆஃப் தென்கிழக்கு ஆசிய நாடுகள்சொத்து மேலாண்மை லிமிடெட்வியட்நாம் நிதி மேலாண்மை கூட்டு ஸ்டாக் நிறுவனம்