Kuala Lumpur , 25 September 2008
SC approves Nomura’s application to establish stockbroking company
The Securities Commission (SC) has approved Nomura Group’s application to establish a stockbroking company in Malaysia.
The licence granted is one of the three stockbroking licences that are available to be issued to leading stockbroking companies following the Budget 2008 measures announced by YAB Prime Minister to strengthen Malaysia’s position as an international Islamic financial centre.
SC Chairman Dato’ Zarinah Anwar said, “Nomura’s presence in Malaysia is expected to further encourage greater flow of funds from Nomura’s global network including from Japan and the Middle East, and promote the Malaysian capital market to global investors.”
In granting the approval, the SC had considered, amongst others, the scope of operations that will be established by Nomura in Malaysia, their stockbroking and capital market experience, expertise and geographical presence.
Nomura is expected to play a key role in promoting the intermediation of funds from the Middle East to Malaysia given its operations in the Middle East. The group was recently given approval to establish an investment bank in the Kingdom of Saudi Arabia .
Nomura leads the Japanese securities market and has established itself as one of the leading global investment bankers, with services in major capital markets in Asia, Middle East, Europe and the United States. Its group of companies comprises Instinet Inc, a trading platform across the United States, Canada, Europe and Asia with access to more than 80 securities markets worldwide.