Georgetown, Penang, 8 May 2014 - Maybank Investment Bank (Maybank IB) today held a grand opening of its new branch in Penang; its first in the northern region and concurrently launched a new stockbroking offering called Market Insight.
The expansion of distribution network and product suite is in line with Maybank Kim Eng Group’s continuous effort to grow its brokerage franchise in ASEAN.
The branch in Penang, which is strategically located in Menara KWSP on Jalan Sultan Ahmad Shah, will cater to the Penang, Kedah and Perlis markets. With branches already in place in Kuala Lumpur, Ipoh, Klang, Selangor and Seremban, this latest addition, the sixth in Malaysia, will expand Maybank IB’s business and further widen the retail equities trading touchpoints to 95 in Malaysia. Globally, Maybank Kim Eng Group has presence in 10 countries, with a total of 179 touchpoints and combined sales force of 2108.
“We see great potential in the northern market; Penang has the 2nd highest GDP per capita in Peninsular Malaysia. Maybank IB will be able to leverage Maybank group’s established presence in this region to grow its market share,” said Ami Moris, Regional Head of Equities for Maybank Kim Eng.
The opening of the Penang branch will connect Maybank IB’s clients in the northern region to its extensive regional financial network and product suite. The branch offers stockbroking products and services for both the domestic and regional markets.
“Our clients in the northern region will be able to trade regionally beyond the 10 countries which we have a presence in, including Hong Kong, Singapore, Canada, Australia, UK and US,” added Ami Moris.
During the grand opening, Maybank IB also unveiled its latest stockbroking offering – Market Insight, the newest feature on its Powerbroking trading app. This latest innovation greatly enhances the trading app by providing access to professional insights, trading ideas, data and real-time market intelligence for Hong Kong, Singapore and Malaysia markets.
Market Insight was designed specifically for retail investors. Among the notable features are the consensus data on a particular stock (where Maybank IB clients can compare Maybank’s research recommendations against the consensus view) and the segmentation of stock selections into portfolios to cater for different investor risk profiles. Coupled with real-time market intelligence, Maybank IB offers its clients a holistic view of what markets are doing, in one convenient platform. Market Insight is currently available to Android users and the iOS version is targeted for launch by third quarter of 2014.
“Maybank IB believes in innovation and we will continue to invest in this space so that our clients can access market information with speed and reliability. With Market Insight, we are empowering our retail clients so that they can make informed investment decisions.” said Ami Moris.