Kota Kinabalu: Phillip Capital, a group of companies offering comprehensive range of financial services, celebrated the launching of its newest branch in the state capital in an official ceremony witnessed by Minister of Local Government and Housing, Datuk Seri Masidi Manjun.
The Phillip Investor Centre (PIC) in Kota Kinabalu is its third branch in East Malaysia, and the 12th of its kind established throughout major cities in Malaysia.
In his opening remarks at the event, Phillip Capital Malaysia group Managing Director Andy Lim Say Kiat described the launching of new branch as part of Phillip Capital Sdn Bhd objectives and efforts to reach out and serve the local trading and investing community.
“This new PIC will serve as a one-stop financial centre for investors and would-be investors to open account, receive updates on market conditions, get consultation from friendly staff and financial planners for a personal financial health check or coaching sessions, as well as the opportunity to attend our various investor education program initiatives provided here regularly,” he said.
He was confident that the concept of a one-stop financial service centre established within proximity of client’s homes and workplaces would bring immense benefits to Malaysians, which has been a successful business model in Singapore.
The branch which was set up in 2021, is now offering both securities and derivatives broking services including futures products such as commodities, agricultural, indices, precious metals, energy, as well as other services that cater for stocks and Contracts for Difference (CFDs).
Andy said the presence of PhillipCapital Group in Kota Kinabalu would not only benefit the investing community but also various plantations and palm oil refineries in the state.
“We also offer East Malaysia Palm Oil (FEPO) contracts that allow transactions of physical deliveries through one of the ports in Sandakan,” he said.
Apart from that, Andy also said PhillipCapital offer foreign futures products that cater to investors of various portfolios, noting CME Group had launched micro futures contracts on US indexes, crude oil and precious metals that provide more opportunities and flexibility for traders to participate in financial markets.
“In recent months, the strength of the US dollar was seen climbing as the Federal Reserve continues to raise interest rates. ICE Futures Singapore offers mini US Dollar Index futures, well suited for those looking to gain exposure in the US dollar,” he said.
Meanwhile, Masidi said he was pleased with the expansion of global and established players in the financial sectors in the state which was in line with Sabah’s 5-year development plan, Hala Tuju Sabah Maju Jaya, to improve aspects of Sabah’s human capital.
“PhillipCapital as a financial house offer local Sabahans with manifold employment opportunities when they join them as intermediaries or agents distributing their vast range of investment products,”he said.
Furthermore, Masidi who is also State Finance Minister II feels PhilipCapital is well positioned to contribute in promoting financial literacy and increasing awareness among Sabahans on improving money management, which is being carried out via seminars and training organized for their sales force and members of the public.
He pointed PhillipCapital provides options for locals to trade shares and invest into Unit Trust funds with access to local and international markets through their platform. “Financial Planning is an essential skill which should be inculcated for all especially among the younger generation,”he said.
Masidi also welcomed the futures trading for crude palm oil offered by PhillipCapital through their platform, noting the availability of such services would benefit plantations and refinery companies in Sabah.
“As you know, Sabah is rich in resources. One of the major contributors to Sabah’s GDP is the oil palm industry. In year 2020, we managed to produce 5 million tonnes of palm oil which equates to 6 percent of the global output. This makes Sabah the second biggest palm oil state in Malaysia,” he said.
Bursa Malaysia Derivatives Acting Director, Mohd Saleem Kader Bakas also spoke at the event which also featured numerous guest speakers from various backgrounds invited to talk about financial markets as well as market outlooks.
In 2021, Phillip Capital Sdn Bhd has been awarded with the 3 Bursa Excellence Award in 1st runner-up position, namely Best Overall Derivatives Trading Participant, Best Retail Derivatives Trading Participant and Best Institutional Derivative Trading Participant.
PhillipCapital also emphasizes on investor education and has been organizing free seminars and webinars on investing and trading strategies. Up-to-date, PhillipCapital had done numerous seminars in major cities, including Kuala Lumpur, Johor Bahru, Penang, Melaka and Kuching.
Phillip Capital Sdn Bhd (formerly known as Phillip Future Sdn Bhd) which was incorporated on 7 October 1995 is a subsidiary of PhillipCapital Group headquartered in Kuala Lumpur with 12 branches across Malaysia. It is also a holder of Capital Market Services License to carry out business dealing in securities derivatives and the first broking company in Malaysia to introduce online trading for local and international financials and commodities future products offering a wide range of quality and innovative services to retail and high net worth individuals, corporate and institutional customers.
Among those present during the event were Phillip Nova Pte Ltd Chief Executive Officer Teyu Che Chern, Director of Client Development and Sales of CME Group, Rachel Wong and Asia Pacific Sales Director of ICE Futures Singapore, and PIC Head, Emmylia Abd Aziz.
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