KUALA LUMPUR, 2 DECEMBER 2021 – PhillipCapital Group today announced that its derivatives broking arm in Malaysia, Phillip Futures Sdn Bhd (“Phillip Futures”) has entered into a business sale & purchase agreement with Alliance Investment Bank Berhad (“Alliance Investment Bank”) for the purchase of Alliance Investment Bank’s stockbroking business.
This corporate exercise has received conditional approval from the Bank Negara and Securities Commission. Mr Lam Choon Jin, Executive Director of Phillip Futures share that “this exercise will allow Phillip Futures to expand its Futures, Options and Contract for Difference (“CFDs”) broking services to include Stocks and Exchange Traded Funds to the Malaysian investors.”
Under the corporate exercise, Phillip Futures will enter a strategic partnership arrangement with Alliance Bank Malaysia Berhad (“Alliance Bank”), the holding company of Alliance Investment Bank to enable Alliance Bank to enhance its services to its customers by leveraging PhillipCapital’s global trading platforms and market access. Concurrently, both parties will proactively explore collaboration opportunities in connection with the products and services offered by the other party or its related companies.
“Riding on the growing role of Asia in the global arena, Asian capital markets will present tremendous investment opportunities. PhillipCapital global network’s strong focus on Asia puts us in a good stead to market Asia to the world. With its strategic importance of Asia, Malaysia has many unique investment opportunities to offer,” said Mr Andy Lim, Group Managing Director of PhillipCapital Malaysia.
“The collaboration between PhillipCapital and Alliance Bank will synergise the strength of both companies to offer clients an unparalleled investing experience in a broad range of financial products and services. With our combined experience in the brokerage industry, we believe our collaboration will bring about new innovations and greater quality of services to our clients,” Mr Joel Kornreich, Group CEO of Alliance Bank said.
Phillip Futures expects to conclude the corporate exercise in the first half of 2022 subject to the approvals of the relevant regulatory authorities at which point Phillip Futures will rebrand to reflect the additional services offered.
About PhillipCapital
Since inception in 1975, PhillipCapital has grown into an integrated Asian financial house with a global presence, offering a full range of quality and innovative services to retail and high net worth individuals, family offices, as well as corporate and institutional customers.
Today, PhillipCapital headquartered in Singapore, operates in the financial hubs of 15 countries, including offices in Australia, Cambodia, China (and Hong Kong SAR), France, India, Indonesia, Japan, Malaysia, Singapore, Thailand, Turkey, UK, UAE, USA and Vietnam, serving over 1 Million clients with Assets Under Management of total more than USD 35 Billion.
In Malaysia, PhillipCapital is represented by Phillip Futures Sdn Bhd, Phillip Capital Management Sdn Bhd, Phillip Mutual Bhd, Phillip Wealth Planners Sdn Bhd, Phillip Research Sdn Bhd and FAME Platform Sdn Bhd. PhillipCapital Malaysia offers a comprehensive suite of financial products and services including broking in futures, unit trusts, CFDs, fund management, managed accounts, financial planning, investment research and information technology solution.
Find out more about PhillipCapital here https://www.phillip.com.sg
About Phillip Futures Sdn Bhd
Incorporated in 1995, Phillip Futures is a Trading Participant of Bursa Malaysia Derivatives Exchange and General Clearing Participants of Bursa Malaysia Derivatives Clearing Berhad.
As a leading derivative broker in Malaysia, Phillip Futures was the first futures broking company in Malaysia to provide online trading for local and foreign Specified Exchanges on a single trading platform. It was also the first to offer Bursa Malaysia Shares CFDs.
Phillip Futures won 3 accolades in the Bursa Excellence Award 2020, namely 1st Runner Up for Best Overall Derivatives Trading Participant, 1st Runner Up for Best Retail Derivatives Trading Participant and 1st Runner Up for Best Institution Derivatives Trading Participant.
For more information, please visit Phillip Futures website: http://www.phillipfutures.com.my/
Media contact:
Ms Tuang Ying Min
Head of Marketing
Phillip Futures Sdn Bhd
Tel : (603) 92122820
Email : phillipfutures@poems.com.my