Phillip Futures to Offer Stockbroking in Malaysia
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PhillipCapital’s derivatives broking arm in Malaysia has entered into a business sale and purchase agreement with Alliance Investment Bank to purchase its stockbroking business.
The strategic partnership arrangement will allow Phillip Futures to expand its Futures, Options, and Contract for Difference broking services to include Stocks and Exchange Traded Funds to the Malaysian investors, according to an announcement on Monday.
The bank will leverage PhillipCapital’s global trading platforms and market access to enhance services to its customers, and both parties will explore collaboration opportunities, the announcement said. The deal is expected to conclude in the first half of 2022, subject to approvals.
«PhillipCapital global network’s strong focus on Asia puts us in good stead to market Asia to the world. With its strategic importance of Asia, Malaysia has many unique investment opportunities to offer,» Andy Lim, group managing director of PhillipCapital Malaysia, said.
Questions & Answers
Q.Which entity is Phillip Futures acquiring the stockbroking business from?
Which entity is Phillip Futures acquiring the stockbroking business from?
Phillip Futures, the derivatives broking arm of PhillipCapital in Malaysia, is purchasing the stockbroking business from Alliance Investment Bank. This is part of a business sale and purchase agreement between the two organisations.
Q.What new services will Phillip Futures be able to offer Malaysian investors following this acquisition?
What new services will Phillip Futures be able to offer Malaysian investors following this acquisition?
After the acquisition, Phillip Futures will expand its existing Futures, Options, and Contract for Difference broking services. It will now also include Stocks and Exchange Traded Funds for Malaysian investors.
Q.When is the deal between Phillip Futures and Alliance Investment Bank expected to be finalised?
When is the deal between Phillip Futures and Alliance Investment Bank expected to be finalised?
The deal between Phillip Futures and Alliance Investment Bank is anticipated to conclude in the first half of 2022. This timeline is, however, subject to receiving the necessary regulatory approvals.
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