Kenanga Investment Bank Berhad (Kenanga IB) is a Malaysian

financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...

company which provides

investment banking Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated wit ...

stockbroking A stockbroker is a regulated broker, broker-dealer, or registered investment adviser (in the United States) who may provide financial advisory and investment management services and execute transactions such as the purchase or sale of stocks and ...

and

investment management Investment management is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institut ...

services. The company was founded in 1973 by Tengku Noor Zakiah Tengku Ismail, the first

Bumiputera Bumiputera or Bumiputra, which is a Malay word, comes from the Sanskrit word ''Bhumiputra'' which may be transliterated as "son of earth" or "son of the soil" (Bhūmi; भूमि = earth; putra = son). It has different definitions in Brunei and Ma ...

female stockbroker in Malaysia, with her business partner and is one of the first stockbroking houses in Malaysia. It was listed on the

Kuala Lumpur Stock Exchange The Kuala Lumpur Stock Exchange (KLSE; ms, Bursa Saham Kuala Lumpur) dates back to 1930 when the Singapore Stockbrokers' Association was set up as a formal organisation dealing in securities in Malaya. In 1937, it was re-registered as the Malayan ...

in 1996. In 2012, Kenanga IB acquired ECM Libra's investment banking and stockbroking business. The group further expanded by purchasing

ING Group The ING Group ( nl, ING Groep) is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale bankin ...

's local fund management unit in 2014. 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 John Hancock ( – October 8, 1793) was an American Founding Father, merchant, statesman, and prominent Patriot of the American Revolution. He served as president of the Second Continental Congress and was the first and third Governor of the ...

in 1989. John Hancock sold its holding to

Deutsche Bank Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Sto ...

in 1991. Deutsche remained a significant shareholder until 2015 to when it disposed part of its interest to Tokai Tokyo. 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 Sarawak (; ) is a States and federal territories of Malaysia, state of Malaysia. The largest among the 13 states, with an area almost equal to that of Peninsular Malaysia, Sarawak is located in northwest Borneo Island, and is bordered by the M ...

chief minister

Abdul Taib Mahmud Abdul Taib bin Mahmud ( Jawi: عبدالطيب بن محمود; born 21 May 1936) is a Malaysian politician who has served as the 7th Yang di-Pertua Negeri of Sarawak since March 2014. He served as the 4th Chief Minister of Sarawak for 33 years ...

. In May 2017, Kenanga IB launched Rakuten Trade, a joint venture with Japan's

Rakuten () is a Japanese technology conglomerate based in Tokyo, founded by Hiroshi Mikitani in 1997. Centered around Rakuten Ichiba, its businesses include financial services utilizing financial technology, as well as digital content and communicati ...

Securities, Inc. Rakuten Trade is Malaysia's first full-fledged online stockbroker. 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 Bursa Malaysia is the stock exchange of Malaysia. It is one of the largest bourses in ASEAN. It is based in Kuala Lumpur and was previously known as the Kuala Lumpur Stock Exchange (KLSE). It provides a full integration of transactions, offeri ...

in three years. In February 2021, Kenanga IB acquired a 19% stake in

cryptocurrency A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. It i ...

exchange operator Tokenize.

References

External links

* {{Finance links , name=K & N Kenanga Holdings Berhad , symbol=KNNK.KL 1973 establishments in Malaysia Investment banks in Malaysia Companies based in Kuala Lumpur Malaysian brands Financial services companies established in 1973 Companies listed on Bursa Malaysia Malaysian companies established in 1973