CIMB Group Holdings Berhad (CIMB) and China Galaxy Securities Co. Ltd. (CGS) announced that, their respective wholly-owned subsidiaries CIMB Group Sdn Bhd and China Galaxy International Financial Holdings Limited (CGI), have completed the sale and purchase of 50% interest in CIMB Securities International Pte Ltd (CSI). With the completion, CIMB and CGS have now become 50:50 shareholders of CSI (the JV) and CSI will be rebranded as CGS-CIMB Securities once regulatory approvals are obtained.
CSI is the holding company of CIMB’s ex-Malaysia stockbroking business comprising institutional and retail brokerage, and equities research in Indonesia, Singapore, Thailand, Hong Kong, South Korea, India, the UK and the USA. The transaction would improve CIMB’s cost-to-income ratio by over 100 bps and Core Equity Tier 1 ratio by around 10 bps.
LBS Bina Group Berhad (LBS) proved its resilience in the property sector achieving approximately RM1.4 billion in sales for the year 2017, up 15 per cent from 2016. It is full steam ahead for LBS as it remains confident in maintaining its steady momentum throughout 2018, staying ever focused on offering more affordable homes and self-sufficient townships, aligned to the needs of today’s home buyers.
Bursa Malaysia Securities Berhad (Bursa Malaysia) has introduced new trading features, providing alternatives for market participants to efficiently execute a greater variety of trading strategies.