ICS Associates Announces Acquisition of Ling Tse Investment Services (LTIS)

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Having developed a solid institutional base in Shanghai for 16 years, ICS Associates Inc. through the acquisition of Ling Tse Investment services will now offer investment management services to individuals and small businesses both locally through the 117 offices of LTIS and Internationally through their headquarters in Shanghai.

ICS Associates announces the acquisition of Ling Tse Investment Services (LTIS). Having developed a solid institutional base in Shanghai for 16 years, ICS Associates through the acquisition of Ling Tse Investment services will now offer investment management services to individuals and small businesses both locally through the 117 offices of LTIS and Internationally through their headquarters in Shanghai.

The move follows concern amongst some board members and shareholders that ICS Associates did not adequately serve the growing retail investment market in China. The acquisition of Ling Tse Investment Services (LTIS) allows ICS Associates to incorporate the well established trading platforms at LTIS and the InterLink™ order management systems created by LTIS to function as its base for trading in international markets.

The aim of ICS Associates Inc. is to offer under the trading name of LTIS a full service brokerage and independent financial advisory service to individuals and small businesses in China. Under ICS Associates and using the LTIS platforms and InterLink ™ order management system, ICS will look to attract foreign individual and small business investors who wish to access markets in China. The InterLink ™ system will also enable ICS to competitively deliver brokerage services in overseas markets competing with leading banks and investment services firms globally while at the same time providing financial services to the local market using a recognized brand.

The CEO of ICS Associates Inc. Raymond Wong commented after the announcement to shareholders that “the acquisition makes sense on several levels. Merchant banking and commercial paper have enabled ICS to grow and develop very quickly over the past 16 years. The core business of ICS will remain in commercial paper but access to retail investors will raise our profile internationally and the LTIS brand is well respected locally. Our strong cash position and the uncertainties in Europe made LTIS a very sensible choice to acquire and we expect capture a considerable share of the foreign market as the instability of the European markets continues to drive investors into China and other Asian markets.

The announcement comes at the end of a strong third quarter for ICS Associates.

ICS Associates is a leading financial services firm offering a wide range of investment management services. The company serves clients worldwide including corporations, small businesses and individuals.

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Marisa Thomas

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