AS Capital Limited, incorporated and licensed in Hong Kong.

Amstel Holdings Pte Ltd, Singapore incorporated and replaces Amstel Financial Services (S) Pte Ltd as the Group Holding Company

Amstel Securities (Asia) Pte Ltd receives a Capital Markets Services license for dealing in securities from the Monetary Authority of Singapore.

Amstel Securities (Asia) Pte Ltd incorporated in Singapore.

AFS (Thailand) Ltd was incorporated in Bangkok.

AFS Securities (Thailand) Ltd was incorporated in Bangkok.

Asiadealbox.com was launched.

Amstel Securities LLP was incorporated in London.

Amstel Financial Services (S) Pte Ltd engineers a management buyout resulting in Singapore becoming the new HQ. Amstel Securities LLP London was incorporated.

PT Amstel Indonesia was incorporated in Jakarta.

AFS Philippines Inc. was incorporated in Manila.

Amstel Financial Services (S) Pte Ltd was incorporated in Singapore.

Amstel Securities NV Amsterdam established to specialize in the sale and marketing of Equity and Equity Derivative products to European Institutional Investors.