Malaysia's CIMB Group Holdings Berhad (CIMB Group) and Sri Lanka's John Keells Stock Brokers (Pvt) Ltd (JKSB) have entered into a strategic collaboration to promote and facilitate trading on the Colombo Stock Exchange (CSE) and provide co-branded research for CIMB's clientele.
A statement issued by the local company said, JKSB will be CIMB Group's trade execution partner in Sri Lanka whilst supporting CIMB in its sales initiatives to generate trade flows to the CSE. As part of an agreement signed earlier this week, JKSB will also supply CIMB Group (ASEAN's leading universal banking group) with research which will be disseminated to CIMB's clientele globally under a CIMB/JKSB co-branded banner.
This new relationship expands CIMB's global reach and widens JKSB's access to foreign clientele and is expected to result in JKSB and the Sri Lankan market benefiting from increased visibility, particularly in the ASEAN region where CIMB continues to rank as the top player, the statement added.
".. we are impressed by the level of industrial and financial activity in Sri Lanka and believe in its economic growth potential.
ASEAN countries and businesses are already significant trade and investment partners for the country, and as one of ASEAN's leading financial institutions, we believe CIMB has a role to play," said Madam Kong Sooi Lin, Deputy CEO, CIMB Investment Bank Bhd.
CIMB Group is Malaysia's second largest financial services provider and one of ASEAN's leading universal banking groups. |
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