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What is Kenanga Investment Bank Berhad mean?
Kenanga Investment Bank Berhad (Kenanga IB) is a Malaysian financial services company which provides investment banking, stockbroking and investment management services.
The company was founded in 1973 by Tengku Noor Zakiah Tengku Ismail, the first Bumiputera female stockbroker in Malaysia, with her business partner and is one of the first stockbroking houses in Malaysia. It was listed on the Kuala Lumpur Stock Exchange in 1996. The company's key subsidiary, Kenanga Investment Bank, is the largest independent investment bank by equity trading and volume, has the largest network of stockbrokers in the country, and is one of the top three Malaysian stockbrokers by market share. In 2012, Kenanga IB acquired ECM Libra's investment banking and stockbroking business. The group further expanded by purchasing ING Group's local fund management unit in 2014.
Significant stakes in the company have changed hands throughout its history. It received a 30% equity investment from the U.S. financial group John Hancock in 1989. John Hancock sold its holding to Deutsche Bank in 1991. Deutsche remained a significant shareholder until 2015 to when it disposed part of its interest to Tokai Tokyo. Through a series of merger transactions in 2001, the company's largest shareholder (with a 21 percent interest) is the Cahya Mata Sarawak, an investment holding company linked to the family of former Sarawak chief minister Abdul Taib Mahmud.
In May 2017, Kenanga IB launched Rakuten Trade, a joint venture with Japan's Rakuten Securities, Inc. Rakuten Trade is Malaysia's first full-fledged online stockbroker. In May 2020, Rakuten Trade turned a profit for the first time, after handling more than RM12.5 billion in stocks traded on Bursa Malaysia in three years.
In February 2021, Kenanga IB acquired a 19% stake in cryptocurrency exchange operator Tokenize.
reference| Full Form | Category |
|---|---|
| Kenanga Investment Bank Bhd | Business |
| Kenanga Investment Bank Berhad | Business |
| Kalkinma I?n Bolgesel is Birligi | International |
| Kalkinma Için Bolgesel is Birligi | International |
Posted on 14 Sep 2024, this text provides information on Miscellaneous in Business related to Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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