Eastspring has an option to increase its ownership to 100 per cent in the future. As part of this acquisition, Eastspring has also entered into a distribution agreement with TMB to provide best-in-class investment solutions to their customers, according to Nic Nicandrou, chief executive of Prudential Corporation Asia. He added that the acquisition of TMBAM, the fifth-largest asset manager in Thailand, with 10 billion ponds of assets under management which has grown by a market leading 26 per cent compound annual growth rate over the last three years, reinforces Prudential’s commitment to the Thai market. It also complements Prudential’s fast growing life insurance business and provides Eastspring with a unique opportunity to establish a significant third party presence in the largest and fastest growing mutual fund market in the ASEAN region. The completion of the transaction is subject to local regulatory approval. By partnering with TMB, Thailand’s … [Read more...] about Prudential’s Asian unit acquires 65% of TMB’s asset
Thai life insurance public company limited
What’s new in business news: September 8, 2014
Vocabulary: abandon : to stop doing an activity before you have finished it - เลิก adopt : to accept or to start using something new - นำมาใช้ affordable : not expensive - ไม่แพง appeal (noun): a request that a decision be changed - การอุทธรณ์ auction : a usually public sale of goods or property, where people make higher and higher bids (= offers of money) for each thing, until the thing is sold to the person who will pay most - การขายโดยการประมูล, การขายทอดตลาด avoidance (noun): staying away from something or trying to prevent it from happening to you - หลีกเลี่ยง cash-strapped : not … [Read more...] about What’s new in business news: September 8, 2014