Kenanga Investment Bank to Increase Stake in Merchantrade Asia to 19.94 percent

Kuala Lumpur: Malaysia’s leading independent investment bank, Kenanga Investment Bank Berhad has received Bank Negara Malaysia approval to acquire an additional 15.20% equity interest in Merchantrade Asia Sdn Bhd , the country’s largest Money Services Business operator and leading player in the digital payments space.

Our increased equity interest in Merchantrade underscores our commitment to leveraging emerging technologies to revolutionise the way financial services are delivered. Through strategic partnerships, the company has established a comprehensive ecosystem of digital financial products tailored for individuals, as well as SMEs, large corporates, financial institutions and more.

With this new development, we eagerly anticipate the next phase of our journey,” added Mr. Ramasamy K. Veeran, Managing Director and Founder of Merchantrade.

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Kenanga Investment Bank Posts 119% Jump in Net Profit, Revenue Rises to RM204.2 million for 1Q 2024Kuala Lumpur: Kenanga Investment Bank Berhad (“Kenanga” or “Kenanga Group” or “the Group”) today announced its financial results for the first quarter ended on 31 March 2024 (“1Q24”).
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