Maybank says the group's aspiration to become a regional financial services provider by 2015 has not been derailed by the current uncertainty in the global economy.
Maybank Investment Bank (Maybank IB), in its aim to be an Asean premier financial player by 2015, wants to see a close to 20-fold growth in its asset management business in five years by managing assets worth S$20 billion (S$1 = RM2.44) from the current S$1.5 billion.
Its chief executive officer Tengku Datuk Zafrul Tengku Abdul Aziz said new partner Kim Eng has had a strong asset management business in Singapore, Thailand and the Philippines.
With the completion of the merger, the group is keen to grow this business significantly in Malaysia and at the same time tapping the opportunities in Indonesia.
"Then we want to build out this business into Vietnam and Hong Kong as we aspire to grow the assets under management to S$20 billion by 2015," said Tengku Zafrul after the unveiling of the new corporate identity of Kim Eng, now known as Maybank Kim Eng, and the top management line-up here yesterday.
Asset management is one of Maybank IB's five core businesses with the other four being investment banking and advisory, retail equities, institutional equities and derivatives.
With Maybank's completion of the S$1.79 billion acquisition of the services and investment broking group, Kim Eng, the merged entity is now looking at launching derivative products and future options broking in Malaysia, Singapore, Hong Kong, Indonesia and Thailand within the next two to three years.
It is also looking to develop and implement seamless and scalable regional trading platforms for key systems throughout its operations as part of its bigger plan to become the top broker in terms of market share in the Asean region by 2015. Already in the pipeline is the use of innovative trading platforms and mobile securities trading applications on the iPhone, android and blackberry smartphones in Malaysia by end of this year.
Maybank president and chief executive officer Datuk Seri Abdul Wahid Omar, who was also present, said the group's aspiration to become a regional financial services provider by 2015 has not been derailed by the current uncertainty in the global economy.
"We have set our target since June 2010 and it remains relevant even now as our focus is mainly on the Southeast Asian which are supported by strong fundamentals. Some of the European banks in Singapore may scale down their operations and this will only give us a bigger slice of the market share," he said.
Even the bleak capital market outlook is not a major concern for the Maybank group "as we make long-term plans and market will revive and when it does, we will capitalise on it," said Abdul Wahid.
He also said that the global economic downturn will no doubt affect Asean economies but he is positive that the group's loans growth in Malaysia and Singapore will grow by 8 per cent and 5 per cent, respectively, next year while in Indonesia, it would see a double-digit growth.
On the strength of Maybank IB in managing bigger initial public offer (IPO) mandates compared to before, its executive adviser Ronald Ooi said with a bigger balance sheet now, the group will be eyeing bigger deals, starting with pre-IPO mandates.
With the addition of Kim Eng, Maybank's investment banking business now has a combined revenue of more than RM1.2 billion and this is expected to significantly boost Maybank's income from international operations which is targeted to represent 40 per cent of the group's pre-tax profits by 2015.
Abdul Wahid said with Kim Eng, the group's investment banking operations gained entry into eight new markets and it is exploring partnerships in China, North Asia and the Middle East.
On whether the Maybank group will open a retail banking operations in Thailand, he said the group, as much as possible, wants to grow organically but should there be inorganic opportunities, "we will look at them but for now we want to strengthen our investment banking there first".
As for human capital growth, Maybank IB wants to grow this by 10 per cent annually until 2015.
Maybank Investment Bank (Maybank IB), in its aim to be an Asean premier financial player by 2015, wants to see a close to 20-fold growth in its asset management business in five years by managing assets worth S$20 billion (S$1 = RM2.44) from the current S$1.5 billion.
Its chief executive officer Tengku Datuk Zafrul Tengku Abdul Aziz said new partner Kim Eng has had a strong asset management business in Singapore, Thailand and the Philippines.
With the completion of the merger, the group is keen to grow this business significantly in Malaysia and at the same time tapping the opportunities in Indonesia.
"Then we want to build out this business into Vietnam and Hong Kong as we aspire to grow the assets under management to S$20 billion by 2015," said Tengku Zafrul after the unveiling of the new corporate identity of Kim Eng, now known as Maybank Kim Eng, and the top management line-up here yesterday.
Asset management is one of Maybank IB's five core businesses with the other four being investment banking and advisory, retail equities, institutional equities and derivatives.
With Maybank's completion of the S$1.79 billion acquisition of the services and investment broking group, Kim Eng, the merged entity is now looking at launching derivative products and future options broking in Malaysia, Singapore, Hong Kong, Indonesia and Thailand within the next two to three years.
It is also looking to develop and implement seamless and scalable regional trading platforms for key systems throughout its operations as part of its bigger plan to become the top broker in terms of market share in the Asean region by 2015. Already in the pipeline is the use of innovative trading platforms and mobile securities trading applications on the iPhone, android and blackberry smartphones in Malaysia by end of this year.
Maybank president and chief executive officer Datuk Seri Abdul Wahid Omar, who was also present, said the group's aspiration to become a regional financial services provider by 2015 has not been derailed by the current uncertainty in the global economy.
"We have set our target since June 2010 and it remains relevant even now as our focus is mainly on the Southeast Asian which are supported by strong fundamentals. Some of the European banks in Singapore may scale down their operations and this will only give us a bigger slice of the market share," he said.
Even the bleak capital market outlook is not a major concern for the Maybank group "as we make long-term plans and market will revive and when it does, we will capitalise on it," said Abdul Wahid.
He also said that the global economic downturn will no doubt affect Asean economies but he is positive that the group's loans growth in Malaysia and Singapore will grow by 8 per cent and 5 per cent, respectively, next year while in Indonesia, it would see a double-digit growth.
On the strength of Maybank IB in managing bigger initial public offer (IPO) mandates compared to before, its executive adviser Ronald Ooi said with a bigger balance sheet now, the group will be eyeing bigger deals, starting with pre-IPO mandates.
With the addition of Kim Eng, Maybank's investment banking business now has a combined revenue of more than RM1.2 billion and this is expected to significantly boost Maybank's income from international operations which is targeted to represent 40 per cent of the group's pre-tax profits by 2015.
Abdul Wahid said with Kim Eng, the group's investment banking operations gained entry into eight new markets and it is exploring partnerships in China, North Asia and the Middle East.
On whether the Maybank group will open a retail banking operations in Thailand, he said the group, as much as possible, wants to grow organically but should there be inorganic opportunities, "we will look at them but for now we want to strengthen our investment banking there first".
As for human capital growth, Maybank IB wants to grow this by 10 per cent annually until 2015.
