Latest news with #CGSInternational
The Sun
2 days ago
- Business
- The Sun
CGS, CGS International sign pacts for Asean-China business partnerships at Asean Business Forum 2025
KUALA LUMPUR: China Galaxy Securities Co Ltd (CGS) and CGS International Securities Group signed five strategic memorandums of understanding (MoUs) and one letter of intent (LoI), with top corporations, development partners and investment managers across Asean and China on May 29. These landmark agreements were signed at the inaugural Asean Business Forum 2025 (ABF2025) and witnessed by Malaysian Investment Development Authority (Mida) CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid on behalf of Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Securities Commission Malaysia (SC) executive chairman Datuk Mohammad Faiz Azmi, Asean Business Advisory Council (Asean-BAC) Malaysia chairman Tan Sri Nazir Razak and CGS chairman Wang Sheng. They aim to promote the growth of the Asean region as an integrated and cohesive regional economic powerhouse, deepen cross-border collaboration and accelerate capital flows across high-growth sectors. The signings reflect growing confidence in Asean's long-term growth prospects and the role of Malaysia – under its Asean chairmanship – to facilitate China-Asean and intra-Asean business and capital flows. Spanning access, private equity and investment in solutions for technology, healthcare, industrial development, investment promotion and wealth management family-office facilitation, the agreements reflect CGS and CGS International's broader mission and capability to bridge capital and opportunities within the region. These signings also build on their commitment made during the Johor-Singapore Special Economic Zone Partners' Dialogue on May 19, where CGS International committed to a target of RM6 billion – comprising RM3 billion in facilitation of foreign direct investment within three years and RM3 billion in assets under management in the establishment of single family office ventures. The signing parties and scope of partnerships of the LoI and the MoUs signed by CGS and CGS International include: • LoI for China-Asean Investment Programme – Establish a private equity fund to invest in high growth sectors such as healthcare/medical devices, semiconductor, advanced manufacturing, renewable energy, agriculture/food security and consumers throughout Asean with Malaysia as a key regional anchor and to facilitate the transfer of industry knowledge and technology from China to Asean. ARROW -- MoU with Mida to jointly promote Malaysia as an investment hub, support investor facilitation and collaborate on fundraising, business matching and supply chain development for high-value industries. ARROW -- MoU with Fullgoal Asset Management (HK) Limited (Fullgoal HK) and Bursa Malaysia Bhd. Fullgoal HK and CGS International will jointly list exchange-traded funds on Bursa Malaysia, with the aim to provide Malaysian investors with access to a wider range of investment options, and exposure to global markets. ARROW -- MoU with GL Capital Management Limited to jintly establish a closed-end private equity fund dedicated to healthcare/medical devices sector in Asean to tap its high growth opportunities. ARROW -- MoU with OCBC Bank (Malaysia) Bhd to jointly facilitate China and Asean trade and investment flows by supporting regional clients with banking, treasury and investment banking services. ARROW -- MoU with Zhongguancun International Holding Limited (Hong Kong) to facilitate the entry of Chinese companies in the sectors of advanced manufacturing, digital technology, food security and healthcare, into the Johor-Singapore Special Economic Zone and selected Malaysian industrial parks. CGS International Group CEO Carol Fong, said: 'These signings are more than just intents and agreements – they signify our strong confidence in the investment and growth potential of Asean and Malaysia. CGS International is proud to play the role of connector and catalyst, and to leverage our wider Asean presence and Chinese parentage to help our clients and partners accelerate cross-border strategic collaborations, capital and talent mobility for business growth.' ABF2025 was co-organised with Asean-BAC Malaysia and Mida, supported by partners MBSB and OCBC Malaysia. The forum was held in conjunction with the 46th Asean Summit 2025 and Sean-GCC+China Summit 2025. Over 500 regional policymakers, investors and corporate leaders attended the full-day event which featured strategic panels, high-level keynotes, and closed-door business matchmaking.
The Sun
2 days ago
- Business
- The Sun
CGS , CGS International sign pacts for Asean-China business partnerships at Asean Business Forum 2025
KUALA LUMPUR: China Galaxy Securities Co Ltd (CGS) and CGS International Securities Group signed five strategic memorandums of understanding (MoUs) and one letter of intent (LoI), with top corporations, development partners and investment managers across Asean and China on May 29. These landmark agreements were signed at the inaugural Asean Business Forum 2025 (ABF2025) and witnessed by Malaysian Investment Development Authority (Mida) CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid on behalf of Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Securities Commission Malaysia (SC) executive chairman Datuk Mohammad Faiz Azmi, Asean Business Advisory Council (Asean-BAC) Malaysia chairman Tan Sri Nazir Razak and CGS chairman Wang Sheng. They aim to promote the growth of the Asean region as an integrated and cohesive regional economic powerhouse, deepen cross-border collaboration and accelerate capital flows across high-growth sectors. The signings reflect growing confidence in Asean's long-term growth prospects and the role of Malaysia – under its Asean chairmanship – to facilitate China-Asean and intra-Asean business and capital flows. Spanning access, private equity and investment in solutions for technology, healthcare, industrial development, investment promotion and wealth management family-office facilitation, the agreements reflect CGS and CGS International's broader mission and capability to bridge capital and opportunities within the region. These signings also build on their commitment made during the Johor-Singapore Special Economic Zone Partners' Dialogue on May 19, where CGS International committed to a target of RM6 billion – comprising RM3 billion in facilitation of foreign direct investment within three years and RM3 billion in assets under management in the establishment of single family office ventures. The signing parties and scope of partnerships of the LoI and the MoUs signed by CGS and CGS International include: • LoI for China-Asean Investment Programme – Establish a private equity fund to invest in high growth sectors such as healthcare/medical devices, semiconductor, advanced manufacturing, renewable energy, agriculture/food security and consumers throughout Asean with Malaysia as a key regional anchor and to facilitate the transfer of industry knowledge and technology from China to Asean. ARROW -- MoU with Mida to jointly promote Malaysia as an investment hub, support investor facilitation and collaborate on fundraising, business matching and supply chain development for high-value industries. ARROW -- MoU with Fullgoal Asset Management (HK) Limited (Fullgoal HK) and Bursa Malaysia Bhd. Fullgoal HK and CGS International will jointly list exchange-traded funds on Bursa Malaysia, with the aim to provide Malaysian investors with access to a wider range of investment options, and exposure to global markets. ARROW -- MoU with GL Capital Management Limited to jintly establish a closed-end private equity fund dedicated to healthcare/medical devices sector in Asean to tap its high growth opportunities. ARROW -- MoU with OCBC Bank (Malaysia) Bhd to jointly facilitate China and Asean trade and investment flows by supporting regional clients with banking, treasury and investment banking services. ARROW -- MoU with Zhongguancun International Holding Limited (Hong Kong) to facilitate the entry of Chinese companies in the sectors of advanced manufacturing, digital technology, food security and healthcare, into the Johor-Singapore Special Economic Zone and selected Malaysian industrial parks. CGS International Group CEO Carol Fong, said: 'These signings are more than just intents and agreements – they signify our strong confidence in the investment and growth potential of Asean and Malaysia. CGS International is proud to play the role of connector and catalyst, and to leverage our wider Asean presence and Chinese parentage to help our clients and partners accelerate cross-border strategic collaborations, capital and talent mobility for business growth.' ABF2025 was co-organised with Asean-BAC Malaysia and Mida, supported by partners MBSB and OCBC Malaysia. The forum was held in conjunction with the 46th Asean Summit 2025 and Sean-GCC+China Summit 2025. Over 500 regional policymakers, investors and corporate leaders attended the full-day event which featured strategic panels, high-level keynotes, and closed-door business matchmaking.
The Star
3 days ago
- Business
- The Star
Lower crude palm oil prices a drawback for Hap Seng Plantations
PETALING JAYA: Hap Seng Plantations Holdings Bhd's second half of financial year 2025 (2H25) earnings may come under pressure due to lower crude palm oil (CPO) prices. CGS International (CGSI) Research said it expects a weaker 2H25 due to lower CPO pricing, adding that CPO prices were down 21% since April to date. 'We expect 2H25 forecast earnings to be lower half-on-half, mainly due to lower CPO pricing, though this may be partially offset by higher sales volume and lower cost of production. 'Having said that, we believe the company's 2H25 earnings may be stronger than its peers, mainly on the back of its higher-than-peers CPO average selling price (ASP) which is usually 10% to 15% higher than peers, thanks to its sustainability and food grade-related certification as well as better cost efficiency 'We reiterate our 'add' call, with an unchanged target price of RM2.25. 'Downside risks include worse-than-expected fresh fruit bunch (FFB) yields (due to heavy rainfall in Sabah) and lower-than-expected sales volume. 'Potential re-rating catalysts are higher-than-expected FFB and CPO output, and higher-than-expected dividend payout,' CGSI noted. Hap Seng Plantations' 1Q25 core net profit came in at RM39mil, contributing 28% of CGSI Research and 24% of Bloomberg consensus full-year forecasts. UOB Kay Hian Research expects the ASP of CPO at RM4,200 per tonne versus previous assumptions of RM4,500, along with a production growth of 9% year-on-year.
The Sun
29-05-2025
- Business
- The Sun
Bursa, Fullgoal HK and CGS International in pact to facilitate ETF listings on M'sian market
PETALING JAYA: Bursa Malaysia Bhd, Fullgoal Asset Management (HK) Ltd and CGS International Securities Malaysia Sdn Bhd today signed a memorandum of understanding (MoU) to promote international financial integration and enhance the vibrancy of Malaysia's capital market. The tripartite collaboration aims to facilitate the listing of foreign underlying exchange-traded funds on Bursa Malaysia, providing Malaysian investors access to a broader range of investment options while offering exposure to global markets. The MoU was signed by Bursa Malaysia CEO Datuk Fad'l Mohamed, Fullgoal Fund CEO and chairman of Fullgoal HK Lixin Zhang, and CGS International deputy CEO Khairi Shahrin Arief Baki at the Asean Business Forum 2025 in Kuala Lumpur. The signing was witnessed by Malaysian Investment Development Authority (Mida) CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid on behalf of Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. Other dignitaries present at the signing included China Galaxy Securities chairman Wang Sheng, Securities Commission Malaysia executive chairman Datuk Mohammad Faiz Azmi and Asean-Business Advisory Council Malaysia chair Tan Sri Nazir Razak. Bursa Malaysia said it continues to strengthen the local ETF ecosystem through a series of structured and strategic initiatives. These initiatives include those focused on ecosystem development and stakeholder engagement, as well as the ETF Challenge, which aims to raise awareness and educate retail investors. 'This collaboration marks a pivotal step in expanding Malaysia's ETF landscape, offering our investors greater diversity and access to global opportunities. Together with Fullgoal HK and CGS International, we are committed to deepening market sophistication and driving sustainable growth in our capital markets. 'This initiative reinforces Bursa Malaysia's position as an investment gateway, bridging Malaysia with global financial markets,' Fad'l Mohamed said. Currently, Bursa Malaysia offers investment opportunities via 17 ETFs managed by six issuers, with total assets under management of about RM2.4 billion. Fullgoal Fund and Fullgoal HK emphasised the strong maritime ties between China and Malaysia, rooted in a long-standing friendship. With the collaborative efforts of both governments to advance the Belt and Road Initiative, financial and economic cooperation has significantly deepened, they noted. CGS International group CEO Carol Fong said the company looks forward to bringing its investment management, research, and distribution capabilities to the partnership, facilitating the cross-listing of ETFs on Bursa Malaysia with Fullgoal HK. 'In the past two years, we have collaborated with Fullgoal HK on two ETFs in Singapore, which offer the local investors unique opportunities to invest in markets and sectors that are hard to access. We are excited to bring more ETFs to Malaysian investors, fulfilling our aim of making investing more accessible to the masses,' she added. The MoU reflects the joint commitment by Bursa Malaysia, Fullgoal HK and CGS International to strengthen collaboration to promote capital market connectivity between China and Malaysia, enrich cross-border product offerings and enhance the cross-border development capabilities of the asset management industry.
BusinessToday
26-05-2025
- Business
- BusinessToday
Government May Delay Subsidy Reforms: CGS
Malaysia's headline inflation held steady at 1.4% year-on-year in April 2025, in line with CGS International and Bloomberg consensus estimates. The Consumer Price Index (CPI) remained unchanged from the previous month, supported by easing food prices but tempered by rising utility and personal care costs. Core inflation, however, edged higher to 2.0% in April—its highest level since December 2023—indicating resilient underlying price pressures, particularly in non-volatile categories. 'The sustained low headline inflation was largely driven by slower food price growth, which moderated to +2.3% yoy, its lowest level since December last year,' CGS International said in its latest economic update. Food Costs Dip, But Utilities Rebound Food-at-home prices grew by just 0.5% yoy, while food-away-from-home eased to 4.3%. On a monthly basis, food costs dipped by 0.1%. However, the utilities segment rebounded in April, fuelled by rising service maintenance and repair costs for dwellings, averaging 5.7% yoy since the beginning of the year. Other categories such as personal care and social protection also saw prices rise, contributing modestly to the upward pressure on the index. Egg Subsidy Removal Seen Having Minimal CPI Impact The Ministry of Agriculture and Food Security's (MAFS) announcement to phase out egg subsidies—starting with a reduction from RM0.10 to RM0.05 per egg from 1 May and full removal by 1 August—is expected to have minimal impact on inflation. 'With egg prices forming just 0.4% of the CPI basket and having shown a declining trend since July 2024, we believe the price liberalisation will not trigger significant inflationary pressure,' CGS noted. The move is projected to save the government RM400 million in subsidies in 2025, aligning with broader fiscal reform objectives. Policy Delays Prompt CPI Forecast Revision In light of weakening domestic demand and global tariff concerns—particularly following U.S. President Donald Trump's renewed trade policy threats—the Malaysian government has opted for a more cautious approach to subsidy and tax reforms. The implementation of the expanded Sales and Services Tax (SST), originally scheduled for early 2025, has been delayed to 1 June, with actual enforcement likely beginning in July. The SST expansion could add 10–20 basis points to CPI, with a second-round effect expected by August. Additionally, the long-anticipated rationalisation of RON95 fuel subsidies, previously targeted for mid-2025, may be delayed. The reform could impact 15% of households and add a further 20 basis points to the annual inflation rate. Revised CPI Forecast for 2025 Given the delay in price reforms, subdued global commodity prices, and modest inflation in the first four months of the year (1.5% yoy), CGS International has revised its full-year 2025 CPI forecast down to 2.0% from 2.3% previously. 'Despite short-term softness, we expect inflationary pressures to pick up in the second half of 2025 and into 2026 as reform measures gradually take hold,' CGS added. The revised outlook reflects a more measured reform timeline and a shifting macroeconomic backdrop, positioning Malaysia for stable yet cautious inflationary trends in the year ahead. Related
