Kenanga Investor Completes Merger Deal With ING Funds

KUCHING: Kenanga Investors Bhd (Kenanga Investors) has successfully 

merged with ING Funds Bhd (ING Funds) with all of its assets and liabilities 

transferred to Kenanga Investors. According to a press release, this marked a 

key milestone for the integration exercise, as both institutions now operate

as one entity, under Kenanga Investors, a wholly owned subsidiary of K&N 

Kenanga Holdings Bhd via Kenanga Investment Bank Bhd.

“We are very excited about the completion of this merger exercise and the 

prospects it brings. With this, Kenanga Investors has moved up from No.16 to 

No.12 (according to Lipper as at April 2013) in terms of unit trust assets 

under  management (AUM) and will now have over RM5 billion in AUM as well

 as a larger retail customer base of over 30,000 investors.

“Our clients now have access to over 1,000 tied agents, an enlarged and 

experienced fund management team, new online portals as well as, a suite of 

award winning financial products comprising of 32 funds.

“We are also one of the eight Private Retirement Scheme (PRS) providers in 

the country and look forward to offering relevant and compelling PRS products 

to the market,” said Chay Wai Leong, Group managing director of K&N 

Kenanga Holdings Bhd.

Last December, Kenanga Investors entered into a conditional sale and 

purchase agreement to acquire 100 per cent interest in ING Funds owned by 

ING (70 per cent) and its joint venture partner Tab Inter-Asia Services Sdn 

Bhd  (30 per cent). The acquisition was completed on April 19, 2013. The 

Kenanga Group, driven by its growth agenda, has embarked on an expansion 

plan to bolster its businesses and fortify its presence in Malaysia.

The acquisition of ING Funds is the group’s second exercise within a year. The 

first acquisition was of ECM Libra Investment Bank Bhd, which has propelled 

Kenanga Investment Bank Bhd to become the largest independent investment 

bank in the country by equity trading volume and value.

Read more: http://www.theborneopost.com/2013/06/11/kenanga-investor-completes-merger-deal-with-ing-funds/#ixzz2VsJVoWoP