Tycoon set up bank<\/p>\n
HONG KONG (Reuter): Investors representing leading Asian
\nconglomerates said yesterday they had established a Hong-Kong
\nbased investment bank, KG Investments (KGI).<\/p>\n
Shareholders now include Taiwan's Koos Group and Japan's
\nNippon Life Insurance Co., KGI said in a statement.<\/p>\n
Other shareholders, subject to regulatory approval, are South
\nKorea's Tong Yang Group, Singapore's United Overseas Bank,
\nIndonesia's Salim Group, the Philippines' Yuchengcho Group and
\nThailand's Bangkok Bank Public Co. Ltd.<\/p>\n
\"KGI represents a formidable combination of Asian investors,\"
\nsaid KGI chairman Jeffrey Koo, who is also chairman of Taiwan-
\nbased China Trust Commercial Bank.<\/p>\n
\"These shareholders bring together a vast network of resources
\nto support KGI, for example, through the China Trust Commercial
\nBank.\"<\/p>\n
Japan would be one of KGI's key areas, the statement said.<\/p>\n
It did not provide a breakdown of each shareholder's stake in
\nthe new bank or give details of its activities and when it would
\nbegin operating.<\/p>",
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