TheEdge
KUALA LUMPUR: Hwang-DBS (Malaysia) Bhd has proposed to enter into a 49:51 subscription and joint-venture agreement with DBS Asset Management Ltd and Asian Islamic Investment (AIIMAN), to operate AIIMAN as a foreign Islamic fund management company.
In a statement yesterday, Hwang-DBS said the move is to diversify its income base and to cater to the growing demand for Islamic asset management products, as well as capitalise on incentives provided by the Malaysian government.
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