Wednesday, July 27, 2011

SEC grants Investment Manager License to Kenanga

Kenanga Investment Corporation Limited (“KICL”, “Company”), an arm of K & N Kenanga Holdings Berhad (“Kenanga”) in Sri Lanka, added another feather to its cap when it was granted an Investment Manager License by the Securities and Exchange Commission (“SEC”) of Sri Lanka on June 29.

The license allows KICL to offer new investment management products to cater to specific target market. The Company plans to launch two investment products within the second half of this year.

“Sri Lanka is on the international investor radar due to its rapid growing economy. Therefore we would want to leverage on every opportunity available and fill the gap in the financial products and services,” said Deputy Chairman of KICL, Rohan Senanayake.

Rohan added that the soon-to-be launched investment product will complement KICL’s existing products and services. The Company will provide wealth management services, which include portfolio management, and information on investing in Sri Lanka to the target market. It also assists those who wish to build up their investment portfolio in the country. KICL is currently active in providing services in the area of corporate finance and this include financial restructuring process, structuring, managing and placing of securitization transactions, employee share option scheme and creating access to investment products.

The Company was established in 2007 has concluded over Rs. 10 billion worth of business transactions via initial public offerings, listing, corporate debentures and financial restructuring.

Kenanga is one of the providers of wealth management and investment banking services in Malaysia. As at 30 June 2011, Kenanga’s total asset under management (“AUM”) stood at RM 2.4 billion.

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