With its vision to be a regional financial powerhouse by 2015, Maybank acquired Kim Eng Holdings of Singapore in 2011 and established a strong presence in the Thai market, the second largest economy in ASEAN.
As the largest company by market share listed on the Malaysian Stock Exchange, Maybank employs 45,000 Maybankers in 2,200 offices in 11 countries.
After the merger, Kim Eng Holdings continued to hold on to the top position as the number one broker in Thailand for the 10th straight year. Their success is owed to synergies with commercial banking groups, which included Bumi Armada and MSM Malaysia Holdings IPOs.
Montree Sornpaisarn, CEO of Maybank Kim Eng Securities (Thailand) said that through their integration with Maybank, the company is reinforcing their financial leadership and is able to catapult their brand into regional investment banking arena.
With the realization of the AEC in 2015, strategic regional trade and investments will be accelerated as ASEAN becomes increasingly integrated. The move will showcase more alternatives from offshore investment to Thai investors and increase visibility for Thai stocks to foreign investors.
Dato’ Sri Abdul Wahid Omar, president and CEO of Maybank, said ASEAN economies are expected to grow by 5-6% as part of AEC. As a number of ASEAN countries possess the economic power to invest in a variety of regional projects, long-term growth for the region is forecasted.
Mr Montree also said that the AEC will spur intermediaries to compete in offering the best products and will diversify investments to deliver satisfactory returns and minimize risks.
He added that with Maybank’s wide-reaching connections in many countries, the company is able to synergize benefits to assist intra-ASEAN trade and relations in 2015.