CIMB Securities targets high single-digit market share growth

CIMB Securities Sdn Bhd, a wholly owned subsidiary of CIMB Investment Bank Bhd is targeting high single-digit growth in market share by year-end and is committed to supporting the government’s aspirations in creating a vibrant ecosystem while stimulating the growth of Malaysia’s capital markets.

CIMB Securities CEO Ruzi Rani Ajith said they hope to achieve their growth and aspirations within their target framework and through a five-year investment in technology and infrastructure.

“We have allocated a large amount to ensure that we provide digital capabilities, not only for operational efficiency but also to democratise products to international markets for our customers,” she said at a press conference in conjunction with the launch of CIMB Securities on Friday.

She added that Malaysia’s current public equity market size is RM2 trillion, making it one of the most important fields in the economy.

“As a major player in the market, CIMB Securities is committed to working with partners to develop, enhance and maintain the Malaysian capital market. Over the years, it has pioneered many market-driven ideas to build more companies to compete at the global level,” Ruzi Rani said.

Meanwhile, CIMB Investment CEO Novan Amirudin said CIMB Securities’ entry into the market strengthens the group’s ecosystem, enabling them to complete their comprehensive wholesale banking value proposition to better serve their clients through their “one bank” approach.

“We have had a positive start to the year. From a market share of 0.7% in January, we are now 4.5% in March. In our first two months, we have intermediated RM6.3 billion of block trades, which includes ANZ’s RM2.1 billion selldown of AmBank, the largest equity block trade in Malaysia since 2017. CIMB Securities is back,” he added.

Finance Minister II Datuk Seri Amir Hamzah Azizan, who officiated at the launch, said he is optimistic about CIMB Securities’ arrival on the capital market scene as he believes it will strengthen the Malaysian financial markets.

“Malaysia still holds a sweet spot among the regional capital markets as we are seeing increased investors’ confidence in view of the robust fiscal reforms implemented by the government. This is backed by the country’s strong fundamentals and commitment to implement the Madani economic reform agenda, which in turn is reinvigorating Malaysia’s economy. Therefore, it is an opportune moment for institutional stakeholders to take on a catalytic role in supporting the growth of the capital markets driving the country’s economy forward,” he added

He said he is happy to see CIMB advancing its commitment towards stimulating the economy.

“I am confident it will contribute to a more robust ecosystem, particularly for Malaysia’s capital markets. As our economic trajectory continues an upward momentum, I look forward to seeing more participation from institutional stakeholders and leading financial institutions in making Malaysia an attractive investment destination for both foreign and local investors,” he remarked.