LIKE many other commodities, Malaysia’s golden crop palm oil went through a whirlwind of a year. The upward trend in prices saw interest return to plantation counters that had missed out on the rally in crude palm oil (CPO) prices in 2021.
THE recent proposal by Alliance Bank Malaysia Bhd to dispose of its stockbroking unit to Phillip Futures Sdn Bhd may suggest further consolidation is in store for the stockbroking industry, in view of dwindling trading volumes this year. Last year was an exceptional one for stockbroking firms. Trading interest, particularly among younger investors, picked up swiftly after the global equity rout in March.
KUALA LUMPUR: PhillipCapital Group has announced that its derivatives broking arm in Malaysia, Phillip Futures Sdn Bhd has entered into a business sale and purchase agreement with Alliance Investment Bank Bhd for the purchase of the bank’s stockbroking business.