PHNOM PENH (The Cambodia Herald) -- US-based broker Decker and Co has announced a partnership with the Cambodian unit of South Korea's Tongyang Securities Inc, one of only seven underwriters licensed by the Cambodia Securities Exchange.
In a statement late Tuesday, Decker said partnerships with Tong Yang in Cambodia and BPI Securities in the Philippines would provide clients with "high-grade investment opportunities managed by experienced local brokers."
Han Kyung-tae, chief executive of the Cambodian unit of Tongyang, said the US broker had "substantial expertise and relationships, which will complement our business."
'UNIQUE COMBINATION' IN ASIAN FRONTIER SPACE
"Decker provides us with a unique combination of talents, experience, and an undisputed reputation in the Asia/Frontier space," Han said.
Mark Decker, chief executive of the San Francisco-based broker, said the Cambodian and Philippine firms were "ideal partners" due to their deep knowledge of local markets.
"These partnerships will further strengthen our regional business development, enhance our client-focused strategy in Southeast Asia and reinforce our firm's position as top in market share in the Asia Frontier," Decker said.
The US broker said its network also included partners in Vietnam, Sri Lanka, Malaysia, India, Bangladesh, Indonesia, Hong Kong, Thailand, Singapore and Pakistan.
Tongyang Securities has played a major role in developing the market for the Cambodia Securities Exchange, which is 45 percent-owned by Korea Exchange. The remaining 55 percent is held by the Ministry of Economy and Finance.
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