CIMB, China firm to execute definitive agreements by Q2

PETALING JAYA: CIMB Group Holdings Bhd aims to execute the definitive agreements on the proposed partnership with China Galaxy International Financial Holdings Limited (China Galaxy International) by the second quarter of 2017.
In a filing with Bursa Malaysia yesterday, CIMB said China Galaxy Securities Co Ltd’s (China Galaxy Securities) board of directors passed the resolutions in connection with the proposed partnership last Friday.
China Galaxy Securities made the announcement through the Shanghai Stock Exchange and the Stock Exchange of Hong Kong. China Galaxy International is a wholly-owned subsidiary of China Galaxy Securities.
CIMB noted the positive development and said that it will continue discussions with China Galaxy International on the proposed partnership in the cash equities business comprising institutional and retail brokerage, equities research and associated securities businesses.