Kenanga Investment Bank buys stake in Merchantrade


Kenanga group managing director Datuk Chay Wai Leong (pic) said Merchantrade is one of the fastest growing digital payment and remittance brands in the country.

PETALING JAYA: Kenanga Investment Bank Bhd has acquired a 4.99% equity interest in Malaysia’s largest money services business operator Merchantrade Asia Sdn Bhd. This follows Kenanga’s recent collaboration with Merchantrade to introduce Malaysia’s first stockbroker e-wallet, Kenanga Money

Kenanga group managing director Datuk Chay Wai Leong (pic) said Merchantrade is one of the fastest growing digital payment and remittance brands in the country.

“We are excited to be able to partake in the flourishing prospects of Merchantrade and look forward to exploring more digital opportunities together, ” he said in a statement yesterday.

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