China's CICC eyes Southeast Asia expansion in bid to ease domestic woes

The company logo of China International Capital Corporation Ltd (CICC) is displayed at a news conference on the company's annual results in Hong Kong, China March 30, 2016. REUTERS/Bobby Yip/File Photo Purchase Licensing Rights

SINGAPORE/HONG KONG: China International Capital Corp (CICC) plans to expand its presence in Southeast Asia by opening offices in countries including Indonesia and Malaysia, said its investment banking head, as a slump in deals at home hurts its prospects.

Founded in 1995, the Beijing-based investment bank currently has a presence in seven international financial centers outside of mainland China, including in Hong Kong, New York, London and Singapore.