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» Exclusive interview by China Press (part 1/4)
(14 March, Kuala Lumpur ), As one of the world''s remaining 2 leading financial fundamental data providers, World'' Vest Base, Inc (WVB) has already established itself in Europe . It now aims to focus on the Asian region, setting up a base in Kuala Lumpur as its main headquarters for the Asian region.
When asked why did WVB decided to set up an office in Malaysia , CEO, Philippe O'' Piette said that since the financial crisis in 1997, there were difficulties in obtaining companies'' financials from the Asian countries and Malaysia was no exception either.
Therefore, it was decided that it would be a logical move to set up a base in Asia to collect these financial information. In the decision making process, Japan , Hong Kong and Singapore were ruled out due to the high operational costs to set up a base there.
He indicated that China , Malaysia and Thailand were being short-listed. However, Thailand was being ruled out due to the language factor and China was also ruled out due to the complexities of some of their laws and regulations. And, hence Malaysia was chosen to be the main headquarters for the Asian region for WVB.
WVB has been operational in Malaysia for about 3 years and currently, they have an office in Hanoi, Vietnam and are looking forward to explore new opportunities in Vietnam. Piette''s next aim will be setting up an office in the Middle East, probably in Jordan.
Piette also added that initially there were 6-7 companies, like WVB that provided fundamental data, however due to the financial crisis, some were being taken –over, some were being merged and absorbed by other companies and hence till now, there are just a few left.
WVB is a world wide financial fundamental provider, giving the first source of financial information of public listed companies, covering 80 countries with almost 30,000 companies.
WVB''s clients are mainly fund managers, investment banks, securities houses and other financial institutions.