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An ambitious goal - C-SUITE EXCLUSIVE - Magazine | Asia Asset Management

Teng Chee Wai, founder and group managing director of Malaysia’s Affin Hwang Asset Management, has long resisted the temptation to expand abroad.

Teng chee waiAffin hwang asset managementOunder and group managing director of malaysia amp rsquos affin hwang asset managementAs long resisted the temptation to expand abroadEeing it as too riskya move but with european private equity firm cvc capital partners coming on board asa major shareholderE is now prepared to give ita shot amp ldquoi have mulled over this topic for ten yearsMp rdquo teng tells asia asset management in an interviewXplaining why he was so hesitant to look beyond local borders amp ldquoi have various shareholders asking me lsquo don rsquot you think of regionalisation rsquoi resisted it because is not easyMp rdquo he says amp ldquo if you look at all the local asset managersHere are not many success stories most of them have closed down their business overseas and come back to concentrate on the local market amp rdquo cvc rsquos entry has shifted his thinking ultimate goal now is ldquo try use malaysia asa base builda southeast asian asset management powerhouse key word lsquo rsquoEcause we know it is not going to be easy just because area significant player in malaysiaOesn amp rsquot mean we can go to other markets and achieve the same success you are going be just another new kid on block will have compete with global playersMp rdquo he explains believes the company can leverage on cvc amp rsquos regional network to gain access more expansion opportunities nbsp ldquo soFive years from nowOu will see that affin hwang asset management not just bea local fund house we hope it have some regional presence with ourselves working like minded independent managers within southeast asiaMp rdquo he says according to teng

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