• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi, Oct. 23 Invest Hong Kong, an investment promotion agency, expects more Indian companies, especially those in financial services, to locate in Hong Kong in the coming days.

There is a pipeline of Indian banks that are looking to have a presence in Hong Kong, according to Mr M.J.T. Rowse, Director General of Invest Hong Kong.

“We are getting a modest trickle. It ought to be a good flow. I am hopeful it would become a torrent in the coming years,” Mr Rowse said, referring to the interest shown by Indian companies in establishing presence in Hong Kong.

Punjab National Bank, which is the latest in the line of Indian banks that Invest Hong Kong has assisted, is all set to open a full fledged branch in Hong Kong by mid- November, Mr Rowse said, post a meeting with senior officials of the bank here on Tuesday.

Meanwhile, three more banks, both from public and private, are looking to establish presence in Hong Kong.

“Two of them have applied to the Hong Kong Monetary Authority. One has already got the RBI approval,” Ms Shammi Hattangdi, Principal Consultant-India for Invest Hong Kong, said.

Ms Hattangdi however declined to name the three banks.

More Stories on : Overseas Investments | Foreign Trade | Punjab National Bank

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Western Union in talks for mobile money transfer

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line