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KGI Securities planning expansion into Singapore

Taiwanese securities firm KGI Securities is planning to grow its business in Singapore following the completion of its acquisition of local futures broker Ong First Tradition in a deal worth some S$50 million.

SINGAPORE: Taiwanese securities firm KGI Securities is planning to grow its business in Singapore following the completion of its acquisition of local futures broker Ong First Tradition in a deal worth some S$50 million.

The newly renamed entity, KGI Ong Capital, is seeking regulatory approval to broaden its services to include securities, wealth management and corporate finance solutions.

In particular, the firm plans to expand into services like fixed income, investment banking and institutional equities over the next three years.

Meanwhile, it also intends to apply for SGX Securities trading and clearing membership, to gain direct access to SGX's securities trading platform.

Expansion plans come as part of Taiwan's KGI Securities strategy to transform operations and tap opportunities in Southeast Asian markets.

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