MAYBANK Kim Eng has announced that it is collaborating with South Korean brokerage firm Daishin Securities to expand its equities footprint in Asia and provide its clients access to the South Korean stock market.
In a statement dated Wednesday but sent to media on Thursday morning, Maybank Kim Eng Group CEO John Chong said notwithstanding the fact that Maybank Kim Eng has always had an Asean focus, "we not only bring investments into Asean, we are also constantly seeking out investment ideas and opportunities for our Asean clients within and beyond the region".
South Korea's stock exchange is the sixth largest in Asia and 11th largest in the world by market capitalisation. It is home to many consumer electronic products and automotive companies.
He added: "Maybank Kim Eng currently has the largest equities franchise in Asean and this collaboration will widen our footprint in North Asia. Together with our partnerships with Taiwan's Cathay Securities, Japan's Mizuho Securities, as well as our presence in Hong Kong, we now have a comprehensive coverage of the key capital markets in Asia. We will continue to pursue this strategy of forming non-equity-based alliances with strong partners to expand into new pertinent markets."
Its group of companies currently has offices in Malaysia, Singapore, Hong Kong, Thailand, Indonesia, Philippines, India, Vietnam, Saudi Arabia, Britain and the United States.