KE­NANGA-RAKUTEN JV RE­CEIVES SC’S INI­TIAL NOD

The Sun (Malaysia) - - SUNBIZ -

KUALA LUMPUR: Ke­nanga In­vest­ment Bank Bhd yes­ter­day an­nounced that its joint ven­ture with Rakuten Se­cu­ri­ties Inc – EB Global JV Sdn Bhd – has re­ceived ap­proval-in-prin­ci­ple for a li­cence to deal in listed se­cu­ri­ties and pro­vide in­vest­ment ad­vice from the Se­cu­ri­ties Com­mis­sion (SC). Ke­nanga group man­ag­ing di­rec­tor Datuk Chay Wai Leong said Ke­nanga looks for­ward to in­tro­duc­ing a new on­line stock trad­ing plat­form to in­vestors via its joint ven­ture with Rakuten. Rakuten Se­cu­ri­ties pres­i­dent Yuji Kusunoki said its part­ner­ship with Ke­nanga means that Rakuten is closer to ful­fill­ing its growth plans of ex­pand­ing its 100% on­line bro­ker­age busi­ness into Asia. Rakuten Se­cu­ri­ties is the sec­ond largest on­line bro­ker in Ja­pan. will be used for ad­di­tional work­ing cap­i­tal purposes. May­bank said its ex­ist­ing busi­ness re­la­tions with Visa Inc will con­tinue to be a pri­or­ity and will not be af­fected. The dis­posal is ex­pected to have a pos­i­tive ef­fect on the earn­ings and earn­ings per share of May­bank and its group of com­pa­nies for the fi­nan­cial year end­ing Dec 31, 2016. – Ber­nama

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.