Maybank Kim Eng Securities ups capital

15:01 | 02/05/2018 Finance - Banking

Maybank Kim Eng Securities Limited has added US$10 million to its charter capital to VND1.06 trillion (US$46.38 million).

Maybank Kim Eng Securities Limited receives Golden Dragon Awards that seek to honour the achievements of foreign-invested companies — VNS Photo

John Chong, CEO of Maybank Kim Eng Group, said the decision to hike the capital is in line with Maybank Kim Eng Group’s business strategy and clearly demonstrates the firm’s long-term commitment in Vietnam.

“Vietnam is one of the fastest growing economies in the region and a key component of Maybank Kim Eng’s ASEAN strategy.

“Being the first 100 percent foreign-owned securities company in Vietnam, we are deeply invested here; we strongly believe in the potential of the country’s economy and want to ensure that its capital markets continue to grow.”

Kim Thien Quang, CEO of Maybank Kim Eng Vietnam (MKEV), said: “Since we started our operations in Vietnam in December 2007 with a charter capital of only VND200 billion, we have increased our capital four times and by more than 400 percent.

“This additional capital will give us a strong foundation to enhance our competitiveness and increase our product offerings. In particular, with a capital of more than a trillion dong, we will now be able to enter a new market to offer covered warrants."

The company has had a successful first decade, he said.

“To maintain our leading position, we will continue to focus on strengthening our retail brokerage, particularly online brokerage.

“Currently 86 percent of our brokerage transactions are via online trading. Our target is to grow it to 90 percent. We are also looking to grow our institutional brokerage by tapping on MKE Group’s regional footprint and strong presence in ASEAN.

“As the gateway to ASEAN, we will continue to give Vietnam’s corporates access to global investors, and bring global investors to Vietnam.”

Theo VNS