Zico Holdings subsidiary granted capital markets services licence by MAS

PROFESSIONAL services provider Zico Holdings subsidiary Zico Capital was granted a capital markets services (CMS) licence by the Monetary Authority of Singapore (MAS), the company announced on Friday.

The licence was granted on July 13. It will allow Zico Capital to - among other things - give advice on compliance with laws or regulatory requirements relating to the raising of funds, and also provide advice on arrangement, reconstruction or takeover of a corporation or of any of its assets or liabilities.

Zico Holdings said that it does not expect the grant of CMS licence to have any material impact on the company's earnings per share and net tangible asset per share for the financial year ending Dec 31, 2016.

The counter closed at 28.5 Singapore cents on Friday.