Funds News
- Bank offers 'All Weather' funding in Malaysia to back investors to China
Date: 10-Jul-2007 Sources: (Xinhua Online)
KUALA LUMPUR, July 9 (Xinhua)-- The Oversea-Chinese Banking Corp Ltd (OCBC)'s subsidiary in Malaysia launched a three-year financial product here on Monday to support investors that invest in China.
The China All Weather Floating Rate Negotiable Instrument of Deposit, or called China All Weather in brief, is the first such product in Malaysia to be linked to the three China proxies being offered to individual investors, OCBC Bank (Malaysia) Bhd said.
The product seeks to quell the effects of potential turns of investment conditions in the market by aligning with three China proxies, the bank said.
Investors could enjoy semi-annual interest payments of up to 7 percent, with the structured investment product or negotiable instrument of deposit (NID) coming with minimum deposit of 100,000ringgit (28,570 U.S. dollars) and a maximum amount per NID certificate of 10 million ringgit (2.8 million dollars).
The principal is 100 percent protected if held to maturity, the bank added.
The bank stressed that approaching investment via the equity market, with commodity and currency options as well, presents a far more viable alternative to investing in China.
Given that a large portion of China's growth derives from exports, currencies provide another strong entry point into investing there, the bank said.
The Singapore-based OCBC Bank has been operating in Malaysia for more than seven decades and is one of the top foreign banks in the country with a network of 28 branches across the country.
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