Malaysia’s GDC Fund Management Limited (GDC), a fund manager licensed by the Labuan Financial Services Authority has inked a tripartite strategic MoU with World Credit Savings Limited (WCS), a financial services firm licensed by the Abu Dhabi Global Market Registration Authority, and Masco Ventures (Masco), a company licensed by the LFSA to conduct money broking business specializing in digital asset. 

 

Money broking is the business of arranging transactions between buyers and sellers in money with brokers acting as an intermediary.

 

The agreement lays an important cross-border partnership milestone between GDC, WCS and Masco that aims to provide trustworthy financial services and products for high-net-worth individuals and sophisticated investors within the region of Asia, by leveraging the corporations’ existing resources, expertise and networks. 

 

The joint-partnership is aimed at achieving a fund size of $200 million in the initial phase. 

 

Additionally, GDC signed an agreement with Jujuy Energia Y Mineria Sociedad Del Estado (JEMSE), an Argentine state-run mining and power company engaged in the surveying, prospecting and exploration of hydrocarbons and minerals resources. 

 

JEMSE’s operations also involves  renewable energy generation, transmission and distribution. 

 

The MoU signing was witnessed by Senator Jaziri Alkaf Abdillah Suffian at the Malaysia Pavilion in Expo 2020 Dubai. Also present were Dato’ Jessica Tan, Chairwomen of GDC; Dato’ Billy Goh, Deputy Chairman of GDC; Bai Mingguo, Managing Director of WCS; and Sean Teh, Chairman of Masco. 

 

The MoU established a vital partnership between the two parties to explore potential collaborations, whereby GDC seeks to provide investment advisory and fund management services to JEMSE for the course of developing the renewable green energy and technology.

 

Furthermore, GDC also grabbed the golden opportunity at the World Expo 2020 Dubai to sign an MoU with BTA Wealth Management Limited, a licensed independent financial corporation focusing on wealth management established under the Dubai International Financial Centre, whereby the parties desire to establish and commence a mutual beneficial partnership to jointly launch and promote private equity fund and other investment instruments for high-net-worth investors in Malaysia and the Asia-Pacific region. 

 

With the MoU, BTA through GDC will explore opportunities in Southeast Asia markets other than its current Middle East, Africa and South Asia markets, and targets to establish a fund size of $100 million.-TradeArabia News Service