Maybank Investment Bank (Maybank IB) today signed an agreement with Standard & Poor’s (S&P) to offer S&P’s Global Research Reports to Maybank IB clients.
The agreement was signed by the CEO of Maybank IB, Tengku Dato’ Zafrul Tengku Aziz and Managing Director of S&P, Mr. Surinder Kathpalia during the World Capital Markets Symposium organised by the Securities Commission in Kuala Lumpur. Witnessing the signing was Chairman of the Securities Commission Malaysia, Tan Sri Zarinah Anwar, Maybank Chairman, Tan Sri Dato' Megat Zaharuddin Megat Mohd Nor, Maybank President & CEO, Dato' Sri Abdul Wahid Omar and S&P Vice President & Head of Sales & Client Services Asia Pacific, Rocco Sta. Maria.
Under the collaboration, clients from Maybank IB will be able to receive the Global Research Reports as part of the Group’s value added services. The research reports cover more than 180 top listed corporations from the United States, Europe and Asia.
“This is a landmark agreement in the Malaysian investment banking scene as it marks the first time that a renowned research service is made available to investors here,” said Tengku Dato Zafrul.
He added that recent trends indicate an increasing number of regional retail investors are joining institutional investors to trade in offshore markets enabled by online technologies.
“However, presently such investors have limited access to reliable and internationally branded equities research reports for investment in overseas equities. For the first time now, our investors will have access to comprehensive quality information of top value overseas equities. We anticipate a significant increase in interest by investors that will also enable us at Maybank IB to expand our online investment services to customers in the region,” added Tengku Dato’ Zafrul.Tengku Dato’ Zafrul added that the deal would enable Maybank IB to establish research collaboration with S&P and enhance the quality of its equities research. Apart from conventional stocks, investors will also have immediate global investment choices of top Shariah-compliant equities from S&P proprietary STAR rating systems. This, he said, will expand clients’ overseas investment portfolio to spread their investment risks.Meanwhile, Surinder Kathpalia said that S&P’s Equity Research was the highest ranked independent research provider in The Wall Street Journal’s 2009 “Best on the Street” annual survey of top ranking analysts for their stock-picking performance.
“S&P Equity Research has consistently been placed in the Survey’s top ten, and as the highest ranked of independent research firms. The recognition validates the consistency of S&P Equity Research’s valuation approach through a wide range of equity market environments and S&P Equity Research’s independent analysis in helping customers achieve their investment goals,” he said
“S&P Equity Research is committed to providing Malaysian investors with comprehensive and timely analysis, and we are delighted to extend this commitment to help Maybank’s customers make better global investment decisions,” added Surinder. “Our clients around the world value our methodology and approach, the depth of our coverage and our ability to react quickly to news events.”
According to Tengku Dato’ Zafrul, Malaysia’s retail investors invested about RM7 billion in global equities in 2009. “In today’s globalised world, we see growing interest by Malaysian retail investors to move into global equities. This will be driven by sustained growth in the Malaysian economy as well as more equity related services offered by financial institutions such as Maybank IB. Convenient access to quality current information of foreign equities is also an important contributory factor for greater investment in global equities.”
Tengku Dato’ Zafrul said the value of overseas equities traded via Maybank IB, grew by 50% in the financial year ended June 2010 compared with the previous period. With the recent realignment of the Group’s operations that encourages greater cross-border co-operation within Maybank, the Bank is targeting to increase overseas’ equities value by another 30% for this financial year.
He added, “In line with Maybank Group’s vision to be a regional financial services leader, we are increasing the range of value added services that leverages on online technology to our regional retail clients. The S&P Global Market Report is one such exclusive service that is disseminated via email to our clients.”
Maybank IB currently offers dealer-assisted access to foreign equities and is expanding its equity services by offering online access to 6 new markets beginning the latter part of September 2010
About Standard & Poor’s
Standard & Poor's, a subsidiary of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research and data. With offices in 23 countries and markets, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for 150 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit www.standardandpoors.com.
About Standard & Poor's Equity Research Services
As the world's largest producer of independent equity research, Standard & Poor’s licenses its research to over 1,000 institutions for their investors and advisors, including 19 of the top 20 securities firms, 13 of the top 20 banks, and 11 of the top 20 life insurance companies. Standard & Poor’s team of 120 experienced U.S., European and Asian equity analysts use a fundamental, bottom-up approach to assess a global universe of approximately 2,000 equities across more than 120 industries worldwide.
The equity research reports and recommendations provided by Standard & Poor’s Equity Research Services are performed separately from any other analytic activity of Standard & Poor’s. Standard & Poor’s Equity Research Services has no access to non-public information received by other units of Standard & Poor’s. Standard & Poor’s does not trade for its own account. The analytical and ethical conduct of Standard & Poor’s equity analysts is governed by the firm's Research Objectivity Policy, a copy of which may also be found at www.standardandpoors.com