Goldman Sachs has received licenses to provide fund management and corporate finance advisory services in Malaysia, making the investment bank the latest foreign institution to benefit from the continuing liberalisation of Malaysia's financial sector.
The approvals from Malaysia's Securities Commission SC allow the bank to officially open an office in the country and to offer onshore fund management services for the first time. Previously, Goldman was only able to manage Malaysian institutional funds invested outside the country.
A representative of the bank said it could potentially launch funds in Malaysia.
Goldman already offers investment banking services, including capital markets and mergers and acquisition advisory, to companies in Malaysia from its Hong...