PETALING JAYA: Maybank Investment Banking Group subsidiary Maybank Securities Pte Ltd in Singapore and merchant banker BOB Capital Markets (Bobcaps) in India have entered into an agreement to strengthen their India offering to clients in Asean and the world.
This tie-up enables Maybank to enhance its product coverage to global institutional clients while allowing Bobcaps to expand its reach outside India. This relationship further augments Maybank’s capabilities in serving clients in Asean and key global markets while empowering them with bespoke, on-ground and in-depth research insights. The association will extend across research, corporate access and roadshows to elevate interest in India equity products.
According to McLagan, India forms 10% of the overall foreign client commissions of about US$4.5 billion (RM20 billion) paid in Asia ex Japan cash equities, while Asean is a large contributor of foreign portfolio flows into India including the secondary equity market, new listings, bonds, as well as private equity and venture capital investments.
Maybank Investment Banking Group CEO Datuk Ami Moris said India is now the world’s fifth largest stock exchange with a total market capitalisation of over US$3 trillion.
“Since the start of the pandemic, the Nifty 50 benchmark index has risen 41%, and is a consistent outperformer versus other emerging markets. The investment case for India remains sound, and is supported by strong economic growth. We expect to unlock more Asian plus global capital flows into India through this combined service,” she said in a statement today.