PETALING JAYA, Aug 26 – Maybank Investment Bank Bhd, which is celebrating its 40th anniversary this year, is looking at expanding its operation to Laos and Cambodia, after having successfully completed its integration with Kim Eng Holdings Ltd recently.
Its Chief Executive Officer Tengku Zafrul Aziz said the plan was still in preliminary stage as the investment bank was still studying the potential of these markets.
“At the end of the day, we look at this region (Southeast Asia) first. We will first look at markets where Maybank has a presence, in terms of commercial banking,” he told reporters after the launching of its fifth branch in Mutiara Damansara, here on Monday.
He said these two markets, Laos and Cambodia, offered vast potential as they are opening up their capital markets.
“The group asked us whether it was possible to start operation in terms of broking and capital market. The market there is still frontier market, so it is definitely through organic growth,” Tengku Zafrul said.
In terms of timing, the investment bank was looking at when it would be commercially viable to enter these markets while at the same time, fulfilling the regulatory requirements of these markets.
At the moment, Maybank has a total of 12 branches in Cambodia with another four branches coming up by end of this year while Laos has one branch.
Tengku Zafrul said Maybank Investment have been focusing on and expanding its investment services for retail investors across the region as part of its plan to become a regional financial powerhouse by 2015.
Its regional presence, known today as Maybank Kim Eng, has offices in Singapore, Hong Kong, Thailand, the Philippines, India, Vietnam, Great Britain, the United States as well as the Middle East, through its investment in Anfaal Capital.
Locally, Maybank Investment has a total of 76 touchpoints across Malaysia, comprising five investment banking branches, 11 equities investment centres and 60 kiosk-style touchpoints at Maybank branch premises.
To expand its customer base further, the investment bank also launched Powerbroking and M2U mobile apps for Android-based devices today.
He said the new apps were designed following growing popularity of Android applications in the local smartphone market.
– BERNAMA
