COVID–19 NEWS   Japan registers record 250,403 COVID-19 cases within past 24 hours | COVID: Malaysia records increase in new cases, fatalities - Dr Noor Hisham | New COVID-19 cases drop 5.2 pct last week - Health Dg  | Witness still COVID-19 positive, Ahmad Zahid's corruption trial postponed | Japan's daily COVID cases top 180,000, set fresh record amid 7th wave | 
BUSINESS

Alliance Bank gets go-ahead to transfer stockbroking business to Phillip Capital

01/07/2022 06:39 PM

KUALA LUMPUR, July 1 (Bernama) -- Alliance Bank Malaysia Bhd’s subsidiary Alliance Investment Bank Bhd (AIBB) has received the Vesting Order from the High Court of Malaya to transfer its stockbroking business to Phillip Capital Sdn Bhd with effect from July 30, 2022.

Phillip Capital had recently announced its name change from Phillip Futures Sdn Bhd in line with this transfer to reflect the company’s business expansion to include stocks and exchange traded funds in its suite of product offerings beyond derivatives like futures, options and contracts for difference.

Alliance Bank group chief executive officer Joel Kornreich said customers can be assured of seamless and uninterrupted service from their existing dealers and remisiers during the transfer.

“We remain focused on serving the personal and business banking needs of business owners, and by extension, the people important to them – their family, employees, business partners and customers,” he said in a joint statement today.

The bank had earlier completed the transfer of AIBB’s capital markets business to its Islamic subsidiary Alliance Islamic Bank Bhd, which made it one of the few local Islamic banks with in-house capabilities to serve business clients with comprehensive corporate and capital markets solutions.

-- BERNAMA


Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy