Kenanga Investment signs MOU with Maldives Securities Depository Company

Wednesday, 23 March 2016 00:00 - - {{hitsCtrl.values.hits}}

Kenanga Investment Corporation MD/CEO Rohan Senanayake celebrates the signing of the MOU with Maldives Securities Depository Company MD/CEO Hassan Manik while (from left): KICL Manager Corporate Finance Azeem Zubair and Director Surath Peiris and Director/CEO of SMB Securities Nandun Jayatilleke look on

A Memorandum of Understanding was signed recently between Kenanga Investment Corporation Ltd. (KICL) and the Maldives Securities Depository Company Ltd. (MSD). The MOU was signed by MD/CEO Rohan Senanayake and Director Surath Peiris on behalf of KICL, while the MD/CEO Hassan Manik signed on behalf of MSD.

Senanayake explains that with KICL entering into this MOU with the MSD, KICL has led the way for a formal endorsement for Sri Lankan investment bankers to take advantage of a range of lucrative corporate finance opportunities in the Maldives. “KICL has been invited by the CSE to participate in the proposed investor forum being organised in collaboration with the Maldivian Stock Exchange to create awareness among Maldivian corporates on the advantages of listing on the CSE. Being the overseas investment arm of Malaysian listed company K & N Kenanga Holdings Berhad, a highly established financial group in Malaysia with experience over four decades, this MOU expands the depth, breadth and scope of services offered by KICL to the market, leveraging on the strengths we possess,” he says of the Group’s operations in equity broking, investment banking, future broking, treasury, corporate advisory, Islamic banking, wealth management and investment management.

KICL established in Sri Lanka in 2007, specialises in capital market activities with its core strengths in investment banking and fund management encompassing a formidable presence in Sri Lanka’s investment banking arena facilitating the listing of companies, raising corporate debt through listed debentures and providing advisory services for several restructuring ventures, mergers and acquisitions.

“Building on the synergies of the Kenanga Group’s established presence in Asia and Middle East, through direct equity participations and strategic partnerships in Sri Lanka, Vietnam and Saudi Arabia, KICL is looking forward to expansion within the SAARC region, with this MOU being the first step in that process and South India being earmarked next,” states Senanayake.