StanChart, DBS interested in buying AIG Taiwan unit

Published: 05 Jan 2009 01:44:32 PST

Jan. 5, 2009 (China Knowledge) - Standard Chartered PLC<2888><STAN> and Singapore-based investment holding company DBS Group Holdings Ltd separately showed their interests in buying AIG Wealth Management Services (Taiwan) Ltd, American International Group Inc's (AIG) securities unit in Taiwan, the Commercial Times reported, citing unnamed sources as saying.

The report said that AIG Wealth Management Services (Taiwan) will announce the qualified buyers after Chinese Lunar New Year holiday.

AIG Wealth Management Services (WMS) is a wholly-owned subsidiary of AIG Private Bank, providing a comprehensive range of products and services in asset management and investment advisory. It opened the Taiwan branch in 2007, considering the island's great potential market for private banking.

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