Maybank obtains investment banking licence from Hong Kong authorities to offer corporate advisory services such as initial public offering and equity offerings, merger and acquisitions and corporate restructuring in Hong Kong

(MAYBANK opening price today (23.05.2012) was RM 8.45)

Maybank Investment Bank Bhd (MIB) has obtained an investment banking licence from the Hong Kong authorities.

According to MIB chief executive officer Tengku Zafrul Aziz, the Type 6 licence issued by the Securities and Futures Commission of Hong Kong yesterday for “advising on corporate finance” would allow the group to offer corporate advisory services such as initial public offering and equity offerings, merger and acquisitions and corporate restructuring in the country.

Prior to this, MIB’s operations in Hong Kong only had a full broker licence to conduct share-trading activities there.

The newly-obtained investment banking licence would complement Maybank group’s plan to expand in one of the most exciting financial markets in the world.

“The licence will open doors for us to penetrate the investment banking industry in Greater China,” Tengku Zafrul told StarBiz.

To date, only a handful of Malaysian financial institutions have investment banking operations in Hong Kong.

Besides the newly-licensed MIB, other Malaysian institutions allowed to operate investment banking and corporate finance in Hong Kong are CIMB group, through its investment bank arm CIMB Securities (HK) Ltd (formerly known as CIMB-GK Securities (HK) Ltd), and OSK Holdings Bhd.

Since its acquisition of a strategic stake in Singapore-based Kim Eng Holdings Ltd last year, MIB has been expanding its operations in the region. The group aims to become a leading regional financial powerhouse by 2015.

The group has been able to capitalise on rising opportunities as prominent international investment banks begin to scale back their operations because of uncertainties in the global economy.

As shortage of talent had long been a problem plaguing the investment banking industry, Tengku Zafrul said there was now a bigger pool of talent from which the group could source for its regional expansion.

Source: www.thestar.com.my

Maybank is optimistic it will have banking ops in Thailand by 2015

Malayan Banking Bhd (Maybank), the fourth largest banking group in Asean by assets, is optimistic it will have commercial banking operations in Thailand by 2015.

Thailand is the only market in the region, apart from Laos and Myanmar, where it does not have a commercial banking presence. It has applied for a licence in Laos and is keen to start operations in Myanmar once the country opens up the market.

"We're just waiting for the right opportunity and the right target," president and chief executive officer Datuk Seri Abdul Wahid Omar told reporters here yesterday.

Thailand, the region's second largest economy and expected to grow at about five per cent in the next five years, is an important market for the group to be in if it is to achieve its ambition of becoming a regional financial services leader by 2015.

Abdul Wahid said he was "hopeful" that the group would have a banking presence here by then, either by setting up a branch or by acquiring a rival.

"It very much depends on the opportunities presented," he said, adding that Thai rules currently allow foreign investors to hold only up to 49 per cent in a commercial bank.

He said the group has, over the past few years, looked at a number of proposals involving acquisitions. It is understood that over a year ago, it had its eye on TMB Bank and Bank of Ayudhya.

"At this moment, we're not in active discussion with any Thai bank," he said.

Maybank's closest rival in Malaysia, CIMB Group Holdings Bhd, is also eyeing the Thai market. The country's biggest local banks include Bangkok Bank, Kasikorn bank, Siam Commercial Bank and Krungthai Bank.

Maybank, which aims to derive 40 per cent of its pre-tax profit from its international operations by 2015 from about 27 per cent now, is the fourth biggest bank by asset size in the region with US$143 billion (RM429 billion) in assets, after Singapore's DBS, OCBC and UOB banks.

Source: www.btimes.com.my

Maybank Kim Eng Aims To Remain Top Broker In Thailand

Regional investment banking group, Maybank Kim Eng, aims to remain as a top broker in Thailand and grow its market share to 12 per cent in 2012 from 11.86 per cent last year.

In a statement Monday, Maybank said said Maybank Kim Eng, which operated in 11 countries, counted Thailand as a key market in which it has been ranked No 1 broker for the past 10 years.

Maybank Kim Eng Securities (Thailand) currently contributed some 28 per cent in terms of revenue for the entire Maybank Kim Eng group in its financial year 2011, it said.

Maybank president/chief executive officer, Datuk Seri Abdul Wahid Omar, said Maybank Kim Eng Thailand has become an important component of the Maybank Group in achieving its vision of becoming a regional financial services leader by 2015.

"At Maybank, we are focused on capturing growth opportunities in emerging markets and in strengthening our market presence. Thailand, South-East Asia's second largest economy, is expected to grow 5.2 per cent in 2012," he told a media briefing in Bangkok in conjunction with the bank's celebration of ten years as the top Thai broker.

Source: www.bernama.com

Maybank Islamic targets growth of 15 to 18pc

Maybank Islamic Bhd is targeting a growth of between 15 and 18 per cent this year, said its chief executive officer Muzaffar Hisham.

He said the growth is achievable as it is in line with the company's aspirations to promote Islamic banking business.

"We expect double-digit year-on- year growth of our assets this year. But I'm cautiously optimistic as we have three more quarters to go," he told the media at the sidelines of Minggu Saham Amanah Malaysia held at Kompleks Sukan Kota Kinabalu.

He said the bank is targeting customers through its Ikhwan credit card, Amanah Saham Bumiputera financing as well as deposits for customers.

However, he said the main drive for the bank is to create a lot more awareness on Islamic banking in the coming months.

"We just want to get out there and convince customers to look at syariah-compliant products," he added.

He said the bank's current account has one of the best returns and gives an additional two per cent bonus in comparison to other Islamic banks.

"Maybank Islamic is the largest Islamic bank not only in Malaysia but also in Asia. It's very important business for the Maybank group as well," he added.

At present, Maybank Islamic has more than four million customers and expects the number to grow.

Muzaffar said the Islamic banking clientele consist of a good mix of Muslims and non-Muslims.

He added that the company is looking at growing its Asean business.

"At the moment our key foreign markets are Singapore and Indonesia. Bank Internasional Indonesia (Maybank's Indonesian subsidiary) has an Islamic business. It's not big but offers tremendous growth in the market. As for new markets, if there is opportunity we will explore Brunei as well," he added.

Source: http://www.btimes.com.my

Maybank Islamic bullish, on track to record RM1bil in pre-tax profit for 2012

Maybank Islamic Bhd is on track to record RM1bil in pre-tax profit for its financial year 2012 by leveraging on its parent Malayan Banking Bhd's (Maybank) global wholesale business and community financial services to carve its own niche in the market for Islamic finance.

Maybank Islamic chief executive officer Muzzaffar Hisham told StarBiz that healthy deposit levels, coupled with a growth in asset base with a good mixture of deposit and liabilities, would help to fuel the company's growth.

“Maybank Islamic is well on track in achieving the target of one-third Islamic financing contribution to the group's total domestic loans and advances by 2015,” he said.

Muzaffar: ‘We have identified many opportunities to tap on.’

Last year, the Islamic bank's total group domestic loans contribution expanded by 28.5% from 26.1% a year earlier, while also recording a pre-tax profit of RM567.1mil.

“The beauty of Maybank Islamic is that we can cut across the three key pillars of the larger group and embrace a pragmatic approach to venture into different areas of businesses that we don't want to lose out on,” he said.

Riding on the slew of projects under the Economic Transformation Programme, the bank is also excited on the prospects of fund-raising activities arising from these projects.

“We have identified many opportunities to tap on, especially with regards to raising funds as private parties are expected to finance most of these projects. For example, it has been announced that the My Rapid Transit project is expected to raise as much as RM30bil for the development,” he said.

He said the sukuk business in Malaysia had grown tremendously well, with more sukuk issuance compared with conventional bonds.

“Besides the strong support from the authorities, it is just simple economics where liquidity from Islamic funds would need a home, and these corporate issuance via sukuk would open up opportunities to two sets of investors,” he said.

Besides focusing on the domestic market, Muzaffar said the bank was also looking at key regional markets to expand like Singapore and Indonesia.

“We are seeing pockets of expansion, with the region being an obvious growth area for us. Last year, we were able to grow our cross-border financing to Indonesia by about US$500mil to US$600mil from practically zero with the welcome change of ruling in the withholding tax structure,” he said.

On reports that Maybank was open to options to buying into Philippines' only syariah-oriented commercial bank Al Amanah Islamic Investment Bank, Muzaffar said the bank was always looking for opportunities to grow pragmatically and that the reports were just an overstatement.

“As what we've mentioned, we are always on the lookout for ventures and not only acquisition. Right now, our immediate opportunities are to leverage on the 50 Maybank branches to grow the Islamic finance business,” he said.

Source: www.thestar.com.my