PETALING JAYA: The private retirement scheme (PRS) licence held by ING Funds Bhd was a key factor in its acquisition by K&N Kenanga Holdings Bhd, sources said, a move its new owners expect to pave the way for Kenanga to become a PRS provider.
Plans for Kenanga's own PRS, however, are still being worked out as its purchase of ING Funds is only slated to be wrapped up by the first quarter of next year, pending regulatory approvals, people familiar with the matter told StarBiz.
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