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Byline: Roziana Hamsawi
MALAYSIAN Industrial Development Finance Bhd (MIDF) says it is close to signing a strategic partnership deal with a company based in the Gulf Cooperation Council (GCC) states, which will allow MIDF to further grow its asset management business.
Group managing director Mohd Najib Abdullah said MIDF received approval from Bank Negara Malaysia in August and expects to seal the alliance by the year-end.
The alliance will provide a broader spectrum for the group's asset management activities and is timely in the light of current stock market conditions.
"The idea behind this joint venture is to go for long-term …