Anil Dhirubhai Ambani Group (ADAG)-owned, Reliance Money, is now foraying into Malaysia with a tie-up with Infinity Financial Solutions, a Malaysian financial products and services distribution company. Through this expansion, the company hopes to offer financial services such as mutual fund, life insurance and other insurance products, and investments in equities and commodity futures to customers.

Reliance Money is planning to tap the large non-resident Indian (NRI) and people of Indian origin (PIO) population in Malaysia through this venture. Speaking to Financial Chronicle, Sudip Bandyopadhyay, director and chief financial officer, Reliance Money said, "About 15 per cent of Malaysian population consists of Indians and people of Indian origin. It made perfect sense for us to look at opportunities there."

Reliance Money would also be launching its portfolio management services (PMS) to its customers in Malaysia at a threshold level of $ 50,000, he added. Bandyopadhyay hopes that by 2012, Reliance Money's revenues from markets outside India would be as much as 50 per cent.