清华五道口金融EMBA“一带一路”东南亚项目首期班学生 丹姑Zafrul Aziz 担任首席执行长的联昌国际银行集团（CIMB Group），近日宣布，通过其全资子公司CIMB私人有限公司与中国银河国际金融控股有限公司（“CGI”，中国银河证券旗下公司）签署协议，在股票经纪业务领域建立战略合作伙伴关系。
CIMB Group Holdings Berhad(“CIMB” or “the Group”) and China Galaxy Securities Co. Ltd. (“China Galaxy Securities Group”) announced today that they, through their wholly-owned subsidiaries CIMB Group Sdn Bhd and China Galaxy International Financial Holdings Limited (“CGI”) respectively, have signed a share purchase agreement to formalise their strategic partnership across CIMB’s stockbroking business.
The partnership will see CIMB, a leading ASEAN universal bank, and China Galaxy Securities Group, one of the largest Chinese securities companies, becoming 50:50 shareholders in CIMB Securities International Pte Ltd (“CSI”), the holding company of CIMB’s ex-Malaysia stockbroking business comprising institutional and retail brokerage, equities research and associated securities businesses (“stockbroking business”) across Indonesia, Singapore, Thailand, HongKong, South Korea, India, United Kingdom and the United States of America (the“JV”).
CIMB will receive a purchase consideration of SGD167.0 million from CGI for 50% of its stake in CSI which is arrived at based on a multiple of 1.3 times of CSI’s consolidated net asset value of SGD256.9 million as at 31 December 2015.
Group Chief Executive, CIMB Group, Tengku Dato’ Sri Zafrul Aziz said, “This is a momentous occasion and a landmark deal for both CIMB and China Galaxy Securities Group as it heralds the embracing of a new paradigm for the stockbroking business. CIMB’s stockbroking business will effectively be repositioned as a pure play broker with the client base of a universal ASEAN bank. We will continue to offer the full suite of investment banking and capital markets services to our clients, supplemented by the extensive equities distribution platform and research coverage of the joint venture. The partnership with China Galaxy Securities Group is a natural fit and we look forward to realising the great synergies of the joint venture, which also bodes well for the future expansion of our partnership.”
This collaboration marks a significant milestone in not just the relationship between the two leading firms, but also on a wider country agenda. With China’s Belt and Road initiative expected to facilitate growth, consumption and capital flows into the region, the joint venture is poised to further capitalise on China-outbound M&As, China-ASEAN cross-border investments and infrastructure funding. It presents a strategic opportunity for the parties to not only realign their focus and combine their strengths and expertise, but also realise greater cost and efficiency synergies. The strategic move also demonstrates CIMB’s adeptness at recalibrating its stockbroking structure to capture fresh opportunities amid stevolving business dynamics.
Following the signing of the ex-Malaysia share purchase agreement, the parties will work towards obtaining the necessary regulatory approvals with a target to complete by the fourth quarter of 2017. The parties are also in discussions with respect to the Malaysia stockbroking business.
About CIMB Group
CIMB Group is Malaysia’s second largest financial services provider and one of ASEAN’s leading universal banking groups. It offers consumer banking, investment banking, Islamic banking, asset management and insurance products and services. Headquartered in Kuala Lumpur, the Group is now present in nine out of 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar and Laos). Beyond ASEAN, the Group has market presence in China, Hong Kong, India, Sri Lanka, Korea, the US and UK.
CIMB Group has the most extensive retail branch network in ASEAN of over 900 branches as at 31 March 2017. CIMB Group’s investment banking arm is also one of the largest Asia Pacific-based investment banks, offering amongst the most comprehensive research coverage of more than 1,000 stocks in the region.
CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 93.7% shareholder of CIMB Thai in Thailand.
CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad. It had a market capitalisation of approximately RM49.4 billion as at 31 March 2017. The Group has 39,000 employees located in 15 countries.
About China Galaxy Securities Co. Ltd.
China Galaxy Securities Co. Ltd. is one of the leading integrated service providers in the PRC for the securities industry. Established on 26 January 2007, China Galaxy Securities Co. Ltd provides comprehensive securities services including brokerage, sales and trading as well as investment banking and investment management.
With 360 securities brokerage branches spread across 31 provinces in the PRC, China Galaxy Securities Co. Ltd. boasts the largest securities distribution network in PRC in 2016. It also services one of the largest client bases in the PRC of over 8.7 million brokerage customers.
China Galaxy Securities Co. Ltd. is a joint stock limited company listed on both the Hong Kong Stock Exchange (Stock Code: 06881) and the Shanghai Stock Exchange (Stock Code: 601881), with a total registered capital of RMB10.1 billion.
About China Galaxy International Financial Holdings Limited
China Galaxy International Financial Holdings Limited was incorporated in Hong Kong on 9 February 2011 and is a wholly owned subsidiary of China Galaxy Securities Co. Ltd. China Galaxy International, through its wholly-owned subsidiaries, provides brokerage and sales, investment banking, research, and asset management services to global institutional clients, corporate clients and retail customers in Hong Kong.
China Galaxy International Financial Holdings Limited serves as the base for China Galaxy SecuritiesCo. Ltd.’s operations outside of the PRC. As at 6 June 2017, it has HKD1.0 billion in paid-up capital.