HK finance firm eyes PH investments
Following China’s “One Belt and One Road” strategy for outward expansion, financial conglomerate Freeman FinTech Corp. Ltd. is exploring investment opportunities in the Philippines especially in the field of banking.
Officials of the Hong Kong Stock Exchange-listed firm recently met with top officials of the Bangko Sentral ng Pilipinas and the House of Representatives as well as executives of the Philippine Stock Exchange and Rizal Commercial Banking Corp. to assess the investment climate in the country.
A Sino-Hong Kong conglomerate engaged in a wide range of financial investments around the world, Freeman FinTech met with BSP Governor Nestor Espenilla Jr. to discuss the possibility of applying for various financial licenses.
Espenilla briefed the company officials on the current state of banking and financial regulations in the Philippines and encouraged Freeman FinTech to explore the local banking system and undergo an accreditation and licensing process to be able to operate locally.
Freeman FinTech officials also met some senior-level executives of RCBC. The Chinese officials briefed RCBC representatives on its range of financial services, innovations and advanced financial technology. Freeman FinTech expressed interest in possible areas of cooperation, while RCBC also welcomed potential future cooperation in banking, investment banking, asset management, wealth management and third-party payment and consumer finance businesses.
With regard its securities business, Freeman FinTech met PSE president and CEO Ramon Monzon, who briefed the officials on the the current status of the bourse. Possible cooperation opportunities in the securities industry in the Philippines, including suggestions and opinions on securities trading and investment banking, were also discussed.
Freeman FinTech also called on House Speaker Pantaleon Alvarez and had a pleasant exchange of ideas on possible areas of cooperation and investments in the country. These visits provided Freeman FinTech a deeper understanding of the Philippines’ financial industry and enhanced its understanding of local laws, regulations and regulatory requirements.
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