Singapore timber trading scion sets sights on financing business in Indochina
Second-generation leader David Yong aims to transform Evergreen Assets Management into a broad-based enterprise with financing in Indochina and Singapore as core business
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SINGAPORE'S Evergreen Assets Management is looking to sink its roots in Indochina, with plans to raise S$100 million to expand its financing business in this part of the fast-growing region.
This comes after the company secured a financial institute (FI) licence in March 2020 that allows it to conduct micro-financing in Cambodia, offering credit lines to cash-strapped small and medium-sized enterprises (SMEs). It is now in the process of securing similar licences in Vietnam and Myanmar by the end of 2021, said its CEO and second-generation business leader David Yong. (see amendment note)
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