Singapore's UOB Seeks China Joint Venture

Tom Burroughes

13 June 2008

Singapore's United Overseas Bank is seeking a joint venture fund management company with Ping An Securities Company to tap the Chinese market, according to Reuters.

The bank said it is waiting for regulatory approval for the firm to be set up. UOB would have a 25 per cent stake in the joint venture firm, while Ping An Securities will hold a 75 per cent share.