Sacombank Securities Company (Sacombank-SBS) plans to open several overseas offices to boost its business with the first one early next year, according to a company official.

“We plan to open a securities company in Cambodia in early 2010 as the country is slated to inaugurate its stock market in January,” General Director Nguyen Ho Nam told the English-language daily Vietnam News.

Another securities company is planned for Laos, which is expected to open its first stock exchange in October 2010, according to Nam .

In the long-term, he wished to expand a presence in major markets including Singapore and the US by establishing offices to attract capital to Vietnam . He told a meeting on Sept. 1 his company would follow the investment bank model to improve services to customers both inside and outside Vietnam .

“We have established relations with famous investment banks in the world including Citibank, HSBC, Deutsche Bank, JP Morgan Chase, Mitsubishi UFJ Capital and Daiwa Securities SMBC, whose experience we can learn from,” said Nam . He added the relationship would also help in expanding product distribution channels.

He said his company was in the process of creating new products expected to be available before the year’s end to satisfy customers’ investment demands, but didn’t elaborate./.