KUALA LUMPUR: Japan’s Daiwa Securities Group Inc. and Affin Investment Bank Bhd have inked a strategic agreement for equity trading collaboration between the two parties.
A joint statement issued on Friday said Daiwa Securities Group and Affin Investment Bank’s intention was to build a strong business relationship by leveraging both their extensive networks to better serve their clients.
Under the collaboration, Daiwa Securities Group would channel all its clients’ trades on shares quoted on Bursa Malaysia through Affin Investment Bank.
In turn, Affin Investment Bank would channel all its Malaysian clients’ trades on shares quoted in foreign bourses through Daiwa Securities Group.
The signing ceremony for the collaboration was held during the 32nd Japan-Malaysia Economic Association and Malaysia-Japan Economic Association joint annual conference.
Prime Minister Datuk Seri Mohd Najib Tun Razak and the Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed were in Tokyo to witness the signing.
The agreement was signed in Tokyo by Affin Investment Bank managing director Maimoonah Hussain and Daiwa Securities Group deputy president and chief operating officer Nobuyuki Iwamoto.
Under the collaboration, Affin Investment Research would distribute Malaysian research reports to Daiwa Securities Group's global client base. As for Affin Investment Bank, it would distribute Daiwa Securities Group's global research to Malaysian institutional investors, on a co-branded basis.
The Daiwa Securities Group would strengthen its research service to global institutional investors outside Malaysia via Affin Investment Bank’s wide-ranging research coverage in Malaysia as well as Affin Investment Bank’s strong local network among Malaysian companies and investors.
Affin Investment Bank would set up an equity team to cover foreign markets. The team will be based in Kuala Lumpur and provide non-Malaysian research coverage and trading capabilities to better serve Affin Investment Bank’s institutional clients in Malaysia by means of Daiwa Securities Group’s broad research coverage and corporate access across the Pan Asian region including Japan.