Kenanga signs MoU with MSD

A Memorandum of Understanding (MoU) was signed recently between Kenanga Investment Corporation Limited (KICL) and the Maldives Securities Depository Company (Pvt) Ltd (MSD).

MD and CEO, Kenanga Investment Corporation Ltd., Rohan Senanayake said with KICL entering into this MoU with the MSD, KICL has led the way for a formal endorsement for Sri Lankan investment bankers to take advantage of a range of lucrative corporate finance opportunities in the Maldives.

"KICL has been invited by the Colombo Securities Exchange (CSE) to participate in the proposed investor forum being organised with the Maldivian Stock Exchange to create awareness among Maldivian corporates on the advantages of listing on the CSE," he said.

"Being the overseas investment arm of Malaysian listed company, K & N Kenanga Holdings Berhard, a financial group in Malaysia with experience of over four decades, this MoU expands the depth, breadth and scope of services offered by KICL to the market, leveraging on the strengths we possess," Senanayake said.

Among the activities of the Group are equity broking, investment banking, future broking, treasury, corporate advisory, Islamic banking, wealth management and investment management, he said.

KICL set up in Sri Lanka in 2007, specialises in capital market activities with its core strengths in investment banking and fund management, facilitating the listing of companies, raising corporate debt through listed debentures and providing advisory services for several restructuring ventures, mergers and acquisitions.

"Building on the synergies of the Kenanga Group's established presence in Asia and Middle East, through direct equity participation and strategic partnerships in Sri Lanka, Vietnam and Saudi Arabia, KICL is looking forward to expansion within the SAARC region, with this MoU being the first step in that process and South India being earmarked next,"Senanayake said.