Zico unit gets CMS licence, parent firm responds to SGX queries

ZICO Holdings' indirect subsidiary Zico Trust on Wednesday said it has been granted a capital markets services (CMS) licence by the Monetary Authority of Singapore to conduct the regulated activity of providing custodial services.

Separately, Zico Holdings on Wednesday also responded to queries issued by the Singapore Exchange (SGX) regarding its proposed sale of two of its corporate services subsidiaries. 

Among other things, the SGX sought to clarify the identity of the beneficial owners of the purchaser and how the sale price was agreed upon.