CGS-CIMB starts Malaysian stockbroking operations

KUALA LUMPUR: CGS-CIMB Securities Sdn Bhd (CGS-CIMB Malaysia), a joint venture between CIMB Group Holdings Bhd (CIMB) and China Galaxy International Financial Holdings Ltd (CGI), a wholly-owned subsidiary of China Galaxy Securities Co Ltd (CGS), will officially commence operations today.

CIMB and CGS each owns a 50% stake in CGS-CIMB Malaysia, whose stockbroking business comprises institutional and retail brokerage, share margin financing for broking clients, equity financing services and equities research, as well as exchange listed derivative broking via its wholly-owned CGS-CIMB Futures Sdn Bhd, said a joint media statement issued yesterday.