Hong Kong-based Value Partners Group Ltd. has set up a new office in Malaysia as part of its global expansion efforts, it said in an Oct. 8 release.

The group's Kuala Lumpur-based unit, Value Partners Asset Management Malaysia Sdn. Bhd., has received in-principle approval from the country's securities regulator for a capital market services license for fund management. It will thereafter serve as a hub for the group in Southeast Asia for product development, investment and distribution.

Michael William Greenall, managing director of Value Partners' Southeast Asia operations, will lead the Malaysia office.