Latest news with #CGSInternational
Straits Times
3 days ago
- Business
- Straits Times
Trading platform ProsperUs to end its services in Singapore
Find out what's new on ST website and app. SINGAPORE - Local digital trading platform ProsperUs, backed by global investment house CGS International, will end its services here from Nov 30. The platform, which allows users to trade investment products like equities, exchange-traded funds (ETFs) and mutual funds, announced its exit in a notice to customers on July 27. Mr Malcom Koo, chief executive of CGS International Securities Singapore, said the move is part of a 'strategic business direction' to consolidate offerings. 'Existing users who want to continue trading with CGS International may transfer their holdings to CGS International's flagship trading platform, iTrade, or open an account on our new trading platform, UP... They may also transfer their holdings to brokerages operated by other firms', he said. iTrade is an all-in-one platform aimed at seasoned investors who want to trade a broad range of assets – including equities, ETFs, mutual funds and bonds – across global markets. UP is designed for newer investors seeking to trade US, Singapore and Malaysia-listed stocks, including fractional trading of US and Bursa shares. 'Prior to the announcement, we have already reached out to them to facilitate the process of new account openings and transfer and liquidation of their stock holdings, offering full support in their transitions,' Mr Koo added. ProsperUs also said in its notice that users will also no longer be able to open new positions from Aug 11. All existing positions will be placed in 'reduce-only' mode, allowing them to sell or transfer their holdings, but not make further purchases. Clients have until Oct 17 to request a fee waiver for transfers. Standard charges will apply thereafter. They will have until Oct 31 to close all open positions and sell any mutual fund units. Any remaining holdings will be closed or sold by CGS International from Nov 3. Withdrawals and transfer-out requests will be accepted until Nov 21, while the last day to download account statements and other documents from the platform is Nov 28. ProsperUs will be officially decommissioned on Nov 30.
CNBC
4 days ago
- Business
- CNBC
Reluctance to open agriculture sector means Thailand does 'not have high hopes' for U.S. trade deal
Kasem Prunratanamala of CGS International warns that both Thailand and Cambodia stand to lose economically from the ensuing conflict, as Thailand's trade surplus with Cambodia becomes at risk and Cambodia's casino industry faces a hit as Thai visitor revenues dry up.
Malaysian Reserve
25-07-2025
- Business
- Malaysian Reserve
CGS International maintains bullish view on Malakoff ahead of tenders
CGS International Securities Malaysia Sdn Bhd remains positive on Malakoff Corporation Bhd, citing its strong position to secure upcoming Energy Commission tenders amid rising power demand and the urgent need to ensure supply stability and reserve margins. The brokerage stated that its outlook is underpinned by Malakoff's established track record in thermal plant development and operations, supported by its ready-to-deploy plans, sites, and assets. 'We estimate the plant extensions could generate at least RM40 million in annual net profit from 2026,' it said in a research note. 'This will be further supported by the RM950 million mini-hydro project and the RM660 million waste-to-energy (WTE) plant, which we forecast could contribute a combined RM35 million in net profit annually.' CGS International said a potential win for a 1.4 gigawatt greenfield gas plant could add at least RM200 million in recurring annual net profit and RM1 billion in equity value, equivalent to 20 sen per share, based on its back-of-the-envelope calculations. Together, these projects offer strong earnings visibility, backed by long-term power purchase agreements (PPAs) and concessions. While Malakoff's share price has rebounded from its recent lows, the firm sees further upside potential, driven by a pipeline of unpriced assets, including the mini-hydro and WTE plants, its stake in E-Idaman, and potential PPA extensions for the GB3, Prai Power, and Segari plants. 'We also see Malakoff as a strong contender for new gas-fired plant contracts,' it said. On May 10, 2025, the Energy Commission called for proposals for new gas-fired generation capacity in Peninsular Malaysia through competitive bidding, comprising two categories: (1) an expansion of existing plants and (2) development of new plants. Malakoff has submitted bids to extend the PPAs for three of its gas plants, GB3 640 megawatts (MW), Prai Power (350 MW), and Segari (1,303 MW), through to 2029, and plans to participate in bids under Category 2. CGS International maintained its 'Add' recommendation on Malakoff with a target price of RM1.20 per share, based on a conservative assumption of just one joint venture win. — BERNAMA
The Star
23-07-2025
- Business
- The Star
New products from CGS International
KUALA LUMPUR: CGS International Securities Pte Ltd (CGS International), through its subsidiary CGS International Securities Malaysia Sdn Bhd has unveiled its latest Islamic structured investment product offerings namely the Islamic Equity Linked Investment Notes (ELIN-i) and Islamic Autocallable Equity Structured Investment Notes (AESIN-i). Group head of syariah services Rushdan Nadzir said the offerings represented a major milestone as they are the first syariah-compliant equity-linked structured investment products in Malaysia, tailored for affluent and institutional investors. 'These products reflect not only our commitment to innovation but also shared mission to support the country's position as a global leader in Islamic finance,' he said at the launch of the products. He highlighted that the vision for the products is consistent with Bank Negara's Financial Sector Blueprint 2022 to 2026, which aims to strengthen Malaysia's role as a leading Asean financial hub. Rushdan also said Malaysia's Islamic capital market is valued at over RM2.6 trillion, making up 63% of the country's total capital market. ELIN-i and AESIN-i leverage Malaysia's rich legacy as a leader in global Islamic finance and CGS's proven investment capabilities to offer sophisticated investors alternatives to capitalise on broader opportunity in equities and syariah, but in a structured manner.' ELIN-i and AESIN-i offer structured exposure designed for high net-worth individuals and high net-worth entities. —Bernama
Malaysian Reserve
23-07-2025
- Business
- Malaysian Reserve
CGS International Accelerates Sustainability Efforts and Unveils Second Sustainability Report
The Group received 17 Sustainability-related awards in 2024, spanning CSR, DEI and ESG categories. Notable progress was made on its eight Sustainability Focus ('8SF') areas, including the launch of its ESG Incorporation Framework ('ESGIF') to guide the development of ESG-labelled products and services. Starting 2025, the Group will focus on further ESG incorporation into its products and services, tracking Scope 3 emissions, and integrating climate risk into its risk management framework. SINGAPORE, July 23, 2025 /PRNewswire/ — CGS International Securities Pte Ltd ('CGS International') has published the second edition of its sustainability report, reaffirming its commitment to sustainable practices in its business and operations. The 2024 Sustainability Report is aligned with globally recognised sustainability reporting standards, Global Reporting Initiative ('GRI'), as well as the International Financial Reporting Standards S2 on climate-related disclosures. 'CGS International remains committed to future-proofing our business by embedding sustainability in our strategy. We are focused on creating long-term value for our stakeholders and giving back to the communities we serve. At the same time, we continue to facilitate capital flows between China and ASEAN, some of which could be channeled to sustainable development areas that address climate and biodiversity risks in the ASEAN region,' said Ms Carol Fong, Group CEO of CGS International. Promoting Bilateral Relations and Mutual Growth In an increasingly fragmented and volatile global economy, it is important for Asian countries to forge closer regional cooperation to increase collective influence and trade resilience. The Group strengthened its role as a China-ASEAN nexus, facilitating not only capital flows, but also bilateral relations. In 2024, several high-impact conferences were organised across Southeast Asia and China, including the CGS SEA Bilateral Investment Forum 2024 in Hainan, which brought over 300 business leaders from China and ASEAN together. The Group also fostered closer relations between China and Malaysia, including a letter of intent between the governments of Hangzhou and Kuala Lumpur, and hosting high-level delegates to deepen bilateral cooperation. A notable initiative within the Group was the launch of a secondment programme between CGS International and its parent company, China Galaxy Securities, with the aim to facilitate cross-cultural exchanges and strengthen intra-group ties. Deepening ESG Integration Across the Group The 2024 report highlights meaningful progress across the Group's 8SF areas and marks a milestone in its Vision 2025 Strategy and Business Plan, the five-year roadmap that places sustainability at the heart of its strategic direction: Made material progress in emissions tracking, where Scope 2 emissions tracking was extended to international offices. Developing reduction targets and plans for Scope 1 and 2 for Malaysia, Indonesia, Singapore and Thailand offices in 2025 and 2026. Laid the groundwork with the continued measurement of Scope 3 emissions Category 1 (Purchased Goods and Services) from previous years Embarking on other Scope 3 categories covering business travel and finance-related activities in future years. In 2024, CGS International advanced its 'Sustainable Finance' focus by introducing the ESGIF, developed and endorsed by the Group's Sustainability Committee. This framework aims to provide direction and harmonisation for the development of ESG products and services. It establishes clear mechanisms for measurement, tracking, and reporting to support strategic decision-making. Furthermore, CGS International's Malaysia office launched ESG Margin Financing to promote investment in companies with strong ESG performance. Customers investing in constituents of the FTSE4Good Bursa Malaysia Index with high ESG ratings received preferential financing rates, with total loans extended reaching RM4.88 million. The Group's presence in Shariah-compliant markets across ASEAN also drove over S$6 million in revenue from faith-based products. Fostering Collaborative Impact 'At CGS International, we believe that knowledge sharing and collaboration are essential to driving meaningful progress on critical sustainability issues. By working closely with our partners and stakeholders, we aim to create a stronger collective catalyst for sustainable finance across Southeast Asia, and mobilise the industry towards greater climate action across ASEAN,' said Mr Kevin Lee, Group Head of Sustainability. One such initiative is the ASEAN Institute of Carbon Neutrality ('AICN'), launched in late 2023. AICN aspires to mobilise capital towards sustainable development in the ASEAN region to address issues such as climate change. This is done through education and engagement with the business community on sustainability issues through knowledge sharing and thought leadership. The AICN has collaborated with the Sustainable and Green Finance Institute ('SGFIN') from the National University of Singapore since 2024, which resulted in two white papers published on the topics, Just Energy Transition Partnership in Indonesia and Renewable Energy Imports for Singapore. AICN also hosted two webinars on related topics in 2024, including one on nature-related risks for corporates. In the pipeline are three joint research reports with SGFIN in 2025. For more details about CGS International's sustainability initiatives: – END – About CGS International Securities CGS International Securities Pte. Ltd. ('CGS International') is an award-winning and market leading integrated financial services provider, ranked among the top securities houses in Asia. CGS International taps on our wealth of global and ASEAN insights to offer equities trading, leveraged products, wealth management, investment banking, equities research, Shariah-compliant financing, fixed income, currency and commodities, structured products and prime brokerage services in over 15 countries and regions. Along with its parent organisation China Galaxy Securities, a leading securities house in China, CGS International is trusted by close to 18 million customers globally. Find out more at
