Yahoo Finance CGS International launches rebrand, aims to double revenue to $700 mil by 2030
This follows CGS International Holdings’ acquisition of CIMB Group’s stake in the two parties’ joint venture in December 2023.
CGS-CIMB Securities has officially rebranded as CGS International Securities (CGS International), The integrated financial services provider launched its new identity in Singapore on April 18.
This follows CGS International Holdings’ acquisition of CIMB Group’s stake in the two parties’ joint venture in December 2023.
Accompanying the rebrand, CGS International announced a target to double revenue to $700 million by 2030. It also holds a long-term vision to become a “leading investment house, one of the first with Asian roots”.
Present at the launch were Xue Jun, president, China Galaxy Securities; Tan Sri Nazir Razak, chairman and founding partner of Ikhlas Capital; Goh Geok Khim, executive chairman of G.K. Goh Holdings; and Carol Fong, group CEO of CGS International.
Together, they addressed over 300 guests, including Zong Changqing, Minister Counsellor, Embassy of the People's Republic of China in Singapore; and Fu Xiaohui, Secretary-General, China Enterprises Association.
New identity
The new CGS International is ready to pursue a broader vision to become Asia’s global investment house, says Fong. “In 2022, we set out our strategic blueprint to steer the group towards a diversified and sustainable business, and have already achieved significant milestones.”
According to Fong, these include completing over 40 investment banking deals in Singapore, Malaysia and Thailand; and obtaining investment banking licences in Malaysia, Indonesia, Singapore and Thailand and asset management licences in Singapore, Malaysia and Thailand.
CGS International has also successfully launched two major ETFs in Singapore, an oversubscribed Commercial Papers Programme in Malaysia, a new line of structured warrant products in Indonesia and led the underwriting for Credit Bank of Thailand’s IPO.
“These achievements are just a small glimpse of the scale of our ambitions as we broaden our fundamental value proposition,” says Fong.
With its deep roots in the Asean markets of Malaysia, Indonesia, Singapore and Thailand; along with strong Chinese parentage, CGS International believes it is poised to become the “nexus for China-Asean relations”.
CGS’s Xue says the Chinese brokerage and investment bank will “work closely” with CGS International to facilitate greater economic collaboration, cross-border investments and financing. The company also hopes to support the overseas expansion of more “quality Chinese enterprises”.
With a 45-year track record of operating successfully in Asia, CGS International has embarked on a business transformation since 2021.
Sustainability integration is high on CGS International’s priorities. The company has been incorporating ESG principles into its business, being the first investment house in Asia to fully integrate “ESG in a nutshell” into its research reports since 2021.
According to CGS International, it now has a team of eight to drive its ESG initiatives throughout the group. The company launched its five-year ESG roadmap last year.
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