SINGAPORE (June 28): United Overseas Bank (UOB) has entered into a joint venture that would help deepen the bank’s presence in China.

UOB and Shenergy (Group) Company will take a 19.9% and 80.1% respective stakes in the the newly setup JV called Shenergy Consumer Finance Co, a limited liability consumer finance company.

Shenergy CF will offer consumer financing in China, including personal loans for the purchase of energy products and services.

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