Tropicana City Office Tower: CIMB Securities back in the local market

The Sun , 29 June 2010

PETALING JAYA : CIMB Securities has made a comeback in the Malaysian equity market after a three-year hiatus which followed CIMB Investment Bank's rationalisation scheme that transformed it from a merchant bank to an investment bank.

Officially launched yesterday, the CIMB Securities, which is the new brand representing the CIMB Group's regional private client securities offering, will provide a range of services for private clients that includes trading in shares, warrants, exchange-traded funds and other securities listed in Malaysia and abroad.

The CIMB Group said it will be organising regular seminars and lectures to educate potential investors on topics such as exchange-traded funds and structured warrants.

Group deputy chief executive officer (corporate and investment banking) Datuk Charon Wardini Mokhzani said: "We have decided to revive the CIMB Securities, a brand that reinforces our long-standing commitment towards our private clients."

Marking the launch of its new brand, Group chief executive Datuk Nazir Razak abd Charon offciated CIMB Securities's flagship branch at Tropicana City here. Also present was Dijaya Corporation managing director Datuk Tong Kien Onn.

"This new branch will be a one-stop centre to meet the needs of our private investment clients," said Charon in his opening speech.

Speaking at a press conference after the launch, Nazir said CIMB Securities is targeting to double the number of its local remisiers from the current 250 to 500 in 18 months.

He said CIMB Securities also continues to exist as a brand that operates in international markets such as Singapore, Indonesia and Hong Kong, emerging as the top stock in Indonesia, and one of the top four in Singapore.

"Regionally, we target to grow our remisiers by 30%, from 700 to 1.000." he said.

"The decision to revive CIMB Securities and the launch of its flagship branch is clear signal of our intent to grow the number of remisiers exponentially," he said.

"There was a moment in time when people thought that there is no more potential as remisiers, but we intent to grow in both sectors - online trading, as well as in number of remisiers," he added.

Currently, CIMB Securities has seven branches worldwide, 30 CIMB Bank branches with share-trading capabilities, as well as its online trading services which opens up access to the international stock exchange.