CIMB Securities aims for high single-digit market share by year-end

KUALA LUMPUR: CIMB Securities Sdn Bhd, a wholly-owned subsidiary of CIMB Investment Bank Bhd, is eyeing a high single-digit market share in the stockbroking space by the end of this year, banking on the wholesale segment.

Chief executive officer Ruzi Rani Ajith said the company secured a 4.54 per cent market share as of March and concluded RM6.3 billion worth of substantial block deals and secondary placement.

Under CIMB Securities’ five-year plan, it aims to become a leading player in the capital market space, she told a press conference after the launch of CIMB Securities here today.

“Our sense of purpose is to be a leading powerhouse to facilitate the inflow and outflow of trades into Malaysia’s capital market by working very closely with the government to promote the attractiveness of Malaysia’s capital market as an investment destination,” she said.

To do so, Ruzi said CIMB Securities would focus on institutional and corporate clients.

“Our key (focus) will be in collaboration. We will be collaborating with global and regional partners to bring international content to our research, and provide accessibility to international markets to spur the Malaysian market,” she added.

CIMB Securities managing director and head of institutional sales international and strategic partnership Liew Kuo Aun said the company’s confidence is supported by the positive outlook for Bursa Malaysia and ringgit.

He said the mean price-to-earnings ratio for the FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to hover at around 1,623 over the next five years.

Liew said the ringgit is also expected to strengthen for the remainder of the year.

In February 2024, CIMB Group Holdings Bhd completed the acquisition of KAF Equities Sdn Bhd, through CIMB Investment Bank Bhd, and later rebranded as CIMB Securities. – BK