PhillipCapital, one of Singapore’s largest stockbrokers, said it had made a foray into Turkey through the purchase of stock and futures broker HAK Menkul Kiymetler for nearly US$20 million ($25.2 million).
“PhillipCapital looks forward to working closely with HAK to introduce more Asian and global financial products to the Turkish markets. We also plan to introduce Turkish financial products to Asia,” director of corporate development Thomas Yeoh said in a statement on Tuesday.
With the company’s expansion into Turkey, PhillipCapital now has operations in 13 countries including Malaysia, Indonesia, Thailand, Hong Kong, Japan and China.
PhillipCapital is also involved in futures and commodities as well as fund management.
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