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December 29, 2008

Regional securities firms seeking acquisitions
Thai brokerage Kim Eng Securities and Malaysia's CIMB-GK Securities are separately looking to buy regional broking houses over the next three to six months to beef up and diversify their presence in Asia, Reuters quoted a newspaper report as saying Monday.

Kim Eng is looking towards India and Vietnam and has initiated exploratory talks with broking houses in the countries, the firm's executive director Ong Seng Gee told the Business Times.

CIMB-GK Securities Chief Executive Carol Fong also told the paper her firm has made offers to brokerages in Singapore and Malaysia but these were rejected.

"We have made a couple of approaches already but I don't think anyone is up for sale," Fong told the Business Times.

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