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Taiwan allows Polaris Securities Co to open branch in Singapore

Business Materials 24 July 2008 03:42 (UTC +04:00)

Taiwan's Financial Supervisory Commission approved Polaris Securities Company's application to set up a branch in Singapore, a newspaper reported Thursday. ( dpa )

Wu Tang-chieh, director-general of the Securities and Futures Bureau, said the commission cleared Polaris to open a branch in Singapore, allowing the company to expand its business abroad, the Taipei Times said.

Polaris is the first Taiwan securities firm to get approval to establish a branch in the city state, in keeping with Taiwan's liberalization and globalization policy, Wu told a press briefing.

Wu said Polaris chose Singapore because of its tax system, financial expertise and large Chinese population.

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