Taipei, 3 December 2014 – Maybank Kim Eng Group and Cathay Securities Corporation signed a Memorandum of Understanding today to formalise their collaboration in equity brokerage.
The partnership will expand Maybank Kim Eng’s and Cathay Securities’ equity brokerage footprints and provide their clients access to new markets. Cathay Securities will be able to tap on Maybank Kim Eng’s strong network across ASEAN, namely Malaysia, Singapore, Indonesia, Philippines, Thailand and Vietnam. Maybank Kim Eng, on the other hand, will be leveraging Cathay Securities’ presence in Taiwan.
Speaking at the signing ceremony held in the Le Meridien Taipei, Chief Executive Officer of Maybank Kim Eng John Chong said, “We are truly honoured to be collaborating with Cathay Securities; this synergistic partnership will further strengthen Maybank Kim Eng’s equity franchise by widening our reach and allowing us to offer our global clients access into key equity markets in Asia Pacific. As ASEAN’s biggest equity franchise, Maybank Kim Eng is in a strong position to catalyse investment flows into ASEAN at a time when Taiwan investors are looking for ASEAN growth opportunities. Our clients, especially our ASEAN based clients, will also benefit from the good investment opportunities in the Taiwan market. ”
Chairman of Cathay Securities Corporation Stanley Chu said, “We are very excited about this collaboration as it will give Cathay Securities a link to ASEAN and more importantly, to six new markets. This enables us to serve our clients better by giving them a wider and more diversified range of investment opportunities. I also expect both companies to be able to learn from each other’s business experience and continue to deepen business linkages, from institutional brokerage to shares underwriting and international securities business.”
The initial collaboration will include Maybank Kim Eng's sales and research team marketing TWSElisted securities to Maybank Kim Eng’s clients and vice versa, and sharing research resources on securities and futures.
John Chong added, “This partnership holds tremendous potential and opens up huge opportunities for both Maybank Kim Eng and Cathay Securities. We will be exploring more avenues to deepen and widen our collaboration with Cathay Securities.”
President of Cathay Financial Holdings Chang-Ken Lee said, “The rise of ASEAN economies have created tremendous business opportunities in the Southeast Asian markets, in which Cathay Financial Holdings has strategically developed its business and branches to establish a cross-broader financial service platform connecting Greater China and Southeast Asia. We believe this partnership does not only reinforce the institutional brokerage and international securities business for both companies, it holds a greater potential which will continue to impact the companies’ outlook positively. Cathay Securities and Maybank Kim Eng have a very good fit; we share common goals and will work together towards a common interest for mutual benefits.”