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Tuesday, May 24, 2005

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JRG Securities sees potential in West Asia

Our Bureau

Mangalore , May 23

KOCHI-based JRG Securities Ltd, a brokerage firm, wants to explore the investment potential of Indians in West Asia.

The Managing Director of JRG Securities Ltd, Mr Regi Jacob, told Business Line on Monday that the brokerage firm is planning to open three branches in Qatar, Abu Dhabi and Muscat in six months. It already has a branch in Dubai.

Asked about the investment pattern of Indians there, he said most of them prefer low-risk investments such as mutual funds and bonds. Now they are also showing interest in the fast-emerging commodities market.

Mr Jacob was in Mangalore to inaugurate the regional office of JRG Securities Ltd.

Earlier addressing a press conference, he said JRG Securities has 300 centres in seven States. During the current financial year, another 200 centres will be opened across the country. "Our aim is to have more than 500 centres by March 2006," he said. During the current fiscal, another 15 to 20 centres will be opened in various districts of Karnataka.

Stating that commodity trading will overtake capital market trading in future, he said JRG is the member of all the three commodity exchanges. Since agro-based sector contributes nearly 80 per cent to the Indian economy, focus on this sector will help build Indian economy.

He said JRG offers online commodity future trading in rubber, pepper, coconut oil, rice, wheat, gold, silver and 46 other commodities.

Stressing the need for the education of investors on commodity trading, which is relatively a new concept, he said JRG has held several training sessions in various parts of the country in this regard.

He said the concept of insurance broking is yet to gain prominence in the country. JRG Securities Ltd has a licence from Insurance Regulatory Development Authority to act as an insurance broker. Brokers will play a major role in insurance business in two years, he said.

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