KUALA LUMPUR, June 30 (Bernama) -- CGS-CIMB Securities Sdn Bhd (“CGS-CIMB Malaysia”), the Malaysian stockbroking joint venture between CIMB Group Holdings Berhad (“CIMB”) and China Galaxy International Financial Holdings Limited (“CGI”), a wholly owned subsidiary of China Galaxy Securities Co. Ltd. (“CGS”), will officially commence operations on 1 July 2019.
 
CIMB and CGS each owns a 50 percent stake in CGS-CIMB Malaysia, whose stockbroking business comprises institutional and retail brokerage, share margin financing for broking clients, equity financing services and equities research, as well as exchange listed derivative broking via its wholly-owned CGS-CIMB Futures Sdn Bhd.
 
CIMB and CGS are already partners in CGS-CIMB Securities International, which is the platform operating stockbroking businesses in the region.
 
Shahnaz Jammal, CEO of Group Wholesale Banking, CIMB Group said, “We are pleased to complete the inclusion of CIMB’s Malaysia stockbroking business into the partnership with China Galaxy. The platform will be able to leverage on shared expertise, digital innovation and wider market access to offer better solutions for customers. Through CGS-CIMB Malaysia, we expect to raise the game for the country’s stockbroking industry. The CGS-CIMB partnership is also a pivotal step to enhance investment and capital flows between ASEAN and China. I am confident this partnership will result in a differentiated value proposition for existing and future clients of CGS-CIMB, as well as CGS and CIMB separately.”
 
Derrick Lau, CEO of CGI commented, “The successful completion of this joint venture with CIMB in Malaysia will cement our overall stockbroking joint venture collaboration with CIMB. The completion of the CGS-CIMB Malaysia will fortify and better position our entire pan-Asia joint venture platform as the stockbroker of choice in Asia to ride on the increasing trend of crossborder investments under China’s Belt and Road Initiative. We are confident that together with CIMB and the entire team at CGS-CIMB Malaysia, by sharing the same vision and goals going forward, we will continue to scale new heights in the Asian stockbroking industry.”
  
Ruzi Rani Ajith, CEO of CGS-CIMB Malaysia said, “The entry of CGS as a new shareholder as well as CGS-CIMB Securities International’s established platform, research capabilities and regional footprint will provide substantial synergies to support CGS-CIMB Malaysia in fulfilling our clients’ investment objectives as well as in connecting them with various opportunities in Asia. Access to sophisticated tools and technology will also help us create innovative products to serve a wider range of investors. Moving forward, CGS-CIMB Malaysia will focus on expanding our
Islamic services and retail offerings for investors with a Shariah mandate.”
 
CGS-CIMB has over 40 years of cumulative stockbroking expertise and is one of the pioneer stockbrokers in Southeast Asia. Its businesses include retail broking, institutional equities, derivatives, prime services, equities research, wealth management and online broking; and is backed by an award-winning research team, comprising of more than 70 analysts covering over 800 companies across the Asia Pacific (ex-Japan) market. Across the region, CGS-CIMB is already a dominant player in the retail broking industry with 70 branches and over 850 distribution posts, and is ranked top three by market share for broking houses in Malaysia, Indonesia and Singapore.
 
CGS-CIMB Malaysia is one of the top securities firms in the Malaysian market with Year-to-Date Traded Value of RM65.1billion as at 31 May 2019*. Supported by a workforce of over 600 staff, including remisiers, and 29 branches nationwide, the business serves over 200,000 individual, corporate and institutional clients.
 
About CGS-CIMB Securities Sdn Bhd
 
CGS-CIMB Securities Sdn Bhd (“CGS-CIMB MY”) is part of the larger CGS-CIMB group. We cover a total of 18 markets online and offline and we are the largest online retail broker in Malaysia. As at 31 May 2019, we are ranked as the top broking house in the Malaysian market with Year-to-Date Traded Value of RM65.1billion and market share of 13.58%*. 
 
* Source: Bursa Malaysia, 31 May 2019, 
http://www.bursamalaysia.com/misc/system/assets
/27105/PO-Tradingconverted-Summary-05May2019.pdf  
  
About CIMB Group
 
CIMB Group is one of ASEAN’s leading universal banking groups and is Malaysia’s second largest financial services provider, by assets. It offers consumer banking, commercial banking, investment banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in all 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar, Laos and Philippines). Beyond ASEAN, the Group has market presence in China, Hong Kong, India, Sri Lanka, Korea, the US and UK. 
 
CIMB Group has the most extensive retail branch network in ASEAN of around 780 branches as at 31 March 2019. CIMB Group’s investment banking arm is also one of the largest Asia Pacific-based investment banks, offering amongst the most comprehensive research coverage around of 600 stocks in the region. 
 
CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand. 
 
CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad. It had a market capitalisation of approximately RM49.3 billion as at 31 March 2019. The Group has around 36,000 employees located in 16 countries.
 
About China Galaxy Securities Co. Ltd. 
 
CGS is one of the leading integrated services providers in the PRC for the securities industry. Established on 26 January 2007, CGS provides comprehensive securities services including brokerage, sales and trading as well as investment banking and investment management. CGS has the largest securities distribution network in PRC with 36 branches and 493 securities branches spread across 31 provinces as at December 31, 2018. It also services one of the largest client bases in the PRC of over 10.38 million brokerage clients. CGS is a joint stock limited company listed on both the Hong Kong Stock Exchange (Stock Code: 06881) and the Shanghai Stock Exchange (Stock Code: 601881), with a total registered capital of RMB10.1 billion
 
About CGS-CIMB Securities International Pte. Ltd
 
CGS-CIMB Securities International Pte. Ltd (“CGS-CIMB”) is one of the leading integrated financial service providers in Asia. It is a 50-50 joint venture between China Galaxy International Financial Holdings Limited, a wholly-owned subsidiary of China Galaxy Securities Co. Ltd. and CIMB Group Sdn Bhd. 
 
Through a network of local offices, branches and strategic partners, we have a global presence in over 20 countries, providing a truly Asian perspective. We are well-position as Asia’s leading financial gateway with a core focus on well researched and in-depth analysis on financial products. 
 
We are a customer-centric firm and focus on value creation for clients, offering a suite of investment and financial solutions for retail and institutional clients. Our businesses include retail broking, institutional equities, derivatives, prime services, equities research, wealth management and online broking. 
 
Backed by an award-winning research team, we have one of the most comprehensive research coverage of over 800 stocks in the region. Our strong research capabilities from the backbone of our product and service offerings, connecting clients to opportunities.
 
Source: CIMB Group
 
FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Chong Chyi Ming
Marketing and Communications
CGS-CIMB Securities Sdn Bhd
Tel: +6012-225 7968
 
Name: Suria Zainal
Head
Group Corporate Communications 
CIMB Group Holdings Berhad
Tel: +603 - 2261 0638 
Email: suriawati.zainal@cimb.com

--BERNAMA