Member News
CGS International unveils new identity and positioning as leading investment house in Asia
Singapore, 18 April 2024 – CGS International Securities (CGS International) has officially launched its new brand on 18 April 2024. Formerly known as CGS-CIMB Securities, the launch follows the completion of CGS International Holdings Limited’s (CGI) acquisition of CIMB Group Sdn. Bhd.’s (CIMB Group) stake in the two parties’ joint venture in December 2023.
Representing the past, present and future of CGS International, Mr Xue Jun, President, China Galaxy Securities (CGS), Tan Sri Nazir Razak, Chairman & Founding Partner of Ikhlas Capital, Mr Goh Geok Khim, Executive Chairman of G.K. Goh Holdings and Ms Carol Fong, Group CEO of CGS International, addressed over 300 guests, including Mr Zong Changqing, Minister Counsellor, Embassy of the People's Republic of China in the Republic of Singapore and Mr Tan Zhiyong, President of China Enterprises Association (Singapore), at the brand launch.
New identity, 45-year legacy
CGS International has 45 years of operating success and track record in Asia. The company has embarked on a forward-looking business transformation since 2021. Led by its customer-centric philosophy, it has built a comprehensive suite of products and services, including wealth solutions, prime services, investment banking and asset management, while driving cross-country collaborations to enhance productivity and cross-selling opportunities.
It has set targets to double revenue to $700 million by 2030, and a long term vision to become a leading investment house, one of the first with Asian roots.
Ms Carol Fong, Group CEO of CGS International, said: “As the new CGS International, we are ready to pursue a broader vision to become Asia’s global investment house. In 2022, we set out our strategic blueprint to steer the Group towards a diversified and sustainable business, and have already achieved significant milestones. These include completing over 40 investment banking deals in Singapore, Malaysia and Thailand, and obtaining investment banking licenses in Malaysia, Indonesia, Singapore and Thailand and asset management licenses in Singapore, Malaysia and Thailand. These achievements are just a small glimpse of the scale of our ambitions as we broaden our fundamental value proposition.”
CGS International has also successfully launched two major ETFs in Singapore, an oversubscribed Commercial Papers Programme in Malaysia, a new line of structured warrant products in Indonesia, and led the underwriting for Credit Bank of Thailand’s initial public offering.
Sustainability integration is high on CGS International’s priorities. The company has been incorporating ESG principles into its business, being the first investment house in Asia to fully integrate “ESG in a nutshell” into research reports since 2021. It has been building its ESG capabilities, and now has a team of eight to drive its ESG initiatives throughout the Group. It launched its 5-year ESG roadmap in 2023 and set out eight focus areas. While it is still in the early stages of its sustainability journey, CGS International endeavours to champion sustainable growth and societal impact.
Nexus for China-ASEAN Relations, Gateway to Asia and beyond With its deep roots in the ASEAN markets of Malaysia, Indonesia, Singapore and Thailand and strong Chinese parentage, CGS International is poised to become the nexus for China-ASEAN relations and the gateway to Asia. Leveraging the extensive network and market position of CGS in China, CGS International is able to provide investors with unparalleled access to the Chinese market, and bridge China and ASEAN businesses and capital.
Mr Xue Jun, President of CGS, said: “CGS International’s extensive global presence in over 10 countries and regions has greatly boosted CGS’ internationalisation plans. It has become an integral and important member of CGS Group, playing a pivotal role in connecting capital flows and opportunities, and promoting China-ASEAN collaborations and investments. CGS will work closely with CGS International to facilitate greater economic collaboration, cross-border investments and financing, and support the overseas expansion of more quality Chinese enterprises.”
CGS International’s strategic positioning will ride on the rising wave of China-ASEAN relations, offering Southeast Asian and Chinese businesses more opportunities to foster partnerships.
(2024-04-12 Source: CGS International)