Kenanga

Kenanga Investment Bank Berhad (Kenanga IB) is a Malaysian financial services company which provides investment banking, stockbroking and investment management services.

Kenanga Investment Bank Berhad
TypePublic limited company
MYX: 6483
ISINMYL6483OO001
IndustryFinancial services
Founded1973 (1973) as K & N Kenanga Sdn Bhd
Founder
  • Tengku Noor Zakiah Tengku Ismail
  • Tuan Kamaruddin Taha
Headquarters
Kenanga Tower
237 Jalan Tun Razak, Kuala Lumpur
,
Malaysia
Key people
  • Syed Anwar Jamalullail (Chairman)
  • Chay Wai Leong (Group Managing Director)
  • Tengku Noor Zakiah Tengku Ismail (Founder & Adviser)
Services
RevenueIncrease RM592.4 million (2014)[1]
Increase RM030.3 million (2014)[1]
Total assetsIncrease RM005.7 billion (2014)[1]
Total equityIncrease RM854.6 million (2014)[1]
Websitewww.kenanga.com.my

The company was founded in 1973 by Tengku Noor Zakiah Tengku Ismail, the first Bumiputera female stockbroker in Malaysia, with her business partner and is one of the first stockbroking houses in Malaysia.[2] It was listed on the Kuala Lumpur Stock Exchange in 1996.[2] [3] In 2012, Kenanga IB acquired ECM Libra's investment banking and stockbroking business.[4] The group further expanded by purchasing ING Group's local fund management unit in 2014.[3]

Significant stakes in the company have changed hands throughout its history. It received a 30% equity investment from the U.S. financial group John Hancock in 1989. John Hancock sold its holding to Deutsche Bank in 1991. Deutsche remained a significant shareholder until 2015 to when it disposed part of its interest to Tokai Tokyo.[3][5] Through a series of merger transactions in 2001, the company's largest shareholder (with a 21 percent interest) is the Cahya Mata Sarawak, an investment holding company linked to the family of former Sarawak chief minister Abdul Taib Mahmud.[3][6]

In May 2017, Kenanga IB launched Rakuten Trade, a joint venture with Japan's Rakuten Securities, Inc. Rakuten Trade is Malaysia's first full-fledged online stockbroker.[7] In May 2020, Rakuten Trade turned a profit for the first time, after handling more than RM12.5 billion in stocks traded on Bursa Malaysia in three years.[8]

In February 2021, Kenanga IB acquired a 19% stake in cryptocurrency exchange operator Tokenize.[9]

References
  1. Annual Report 2014, K & N Kenanga Holdings Berhad, 2014-12-31, retrieved 2014-08-19
  2. Lee, Liz (2012-12-15). "Up close and personal with Tengku Datuk Paduka Noor Zakiah Tengku Ismail". The Star. Retrieved 2015-08-21.
  3. Tee, Lin Say (2015-05-08). "Deutsche Bank to exit Kenanga, Tokai Tokyo enters". The Star. Retrieved 2015-08-21.
  4. "Malaysia OKs K&N Kenanga's acquisition of ECM Libra's units". Reuters. 2012-06-08. Retrieved 2015-08-21.
  5. Chew, Elffie (2014-03-06). "Deutsche Bank Said Seeking to Sell Malaysian Brokerage Stake". Bloomberg. Retrieved 2015-08-21.
  6. "Our history". K & N Kenanga Holdings Berhad. Retrieved 2015-08-21.
  7. "Rakuten Trade Sdn Bhd, a joint venture between Rakuten Securities, Inc. and Kenanga Investment Bank Berhad, will be launched as the nation's first full-fledged online broker". The Edge Markets. 2017-05-17. Retrieved 2021-07-29.
  8. "Rakuten Trade makes maiden profit after three years in operation". The Edge Markets. 2020-05-13. Retrieved 2021-07-29.
  9. "Kenanga buying 19% stake in cryptocurrency exchange operator Tokenize". The Edge Markets. 2021-02-08. Retrieved 2021-07-29.
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