KGI Securities, the subsidiary of Taiwan's China Development Financial Holding, is expanding its Hong Kong presence with the acquisition of two financial advisory firms.

China Development Financial Holding, the Taiwan-based financial and investment services company, is expanding its reach in the Greater China market with the acquisition of two Hong Kong advisory firms.

TG Holborn (Hong Kong) and Alpha Global Asset Management will be acquired by the firm's wholly-owned subsidiary KGI Securities for HK$8.77 million ($1.12 million) and HK$7.59 million, respectively. 

TG Holborn has been operating in the territory for almost 20 years and specialises in investment instruments linked to insurance policies. Alpha Global has an asset management licence from local authorities. In a statement, the Taiwan firm said that the takeover of both firms will help it grow in Hong Kong and eventually the rest of China. 

KGI Securities has also set up operations in Singapore, which, alongside Hong Kong, will be used to spearhead the company's expansion in Asia. It also added that it intends to reach out to North East Asia, South East Asia and the Islamic markets to eventually become a regional asset management hub. 

China Development Financial Holding's principal investment business is the largest in Taiwan and commands a 30 per cent share of the market.