Rakuten Group’s Rakuten Securities announced that the company signed a joint-venture contract with K & N Kenanga Holdings Berhad’s subsidiary, Kenanga Investment Bank Berhad to establish a joint venture for the first pure-online retail securities business in Malaysia.
Malasian stock market has increased the trading volume every year along with its economic growth. Rakuten Securities has provided real-time trading of Malaysian stocks to Japanese individual traders since 2011. Kenanga group ranked 3rd among general securities companies and the first among retail securities companies in the promising market with a solid customer base.
In Malaysia, face-to-face transaction by sales representatives is popular and pure-online retail securities company doesn't exist. Through the joint venture contract, Rakuten Securities with abundant experiences and know-hows that the company has gained for a long time in Japan and Kananga Group will cooperate to provide Malaysian retail investors with a new investment experience that allows them to do all the necessary processes for stock trading via Internet, and aim to attract new customer base. They plans to launch the service in next spring after getting licenses approved by the local authority.
For Rakuten Securities, this is the second global expansion following the launch of Forex business in HongKong in 2015.
(Source: Rakuten Securities )
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