US brokerage giant drops Asia and goes with TKS Securities

One of the biggest US based broking houses focusing on emerging markets, Auerbach Grayson and Co has picked new kid on the block TKS Securities as its exclusive broker in Sri Lanka.

This breakthrough for TKS puts it among 127 top broking houses in markets and countries Auberbach deals in.

The US firm previously worked with Asia Securities for which Auerbach deals accounted for around 60% of total turnover.

TKS is a Malaysian based investment house and is part of Malaysian MP and business leader Tiong King Sing owned TKS Holdings, which has exposure to finance, real estate and hotels. Asia Capital is also now controlled by Malaysia-based business tycoon Vijay Eswaran.

Formed by a group of highly experienced management team comprising veteran stockbrokers and key executives, TKS saw several of Asia Securities senior staff joining.

TKS’ lead consultant is top fund manager and investor Asanga Seneviratne who co-founded Asia Capital. TKS team headed by former Chief Operating Officer Hussain Gani who is the CEO/ Director also includes key executives and leading brokers with experience over 15 years in equity trading/placements. Its research team is headed by Danushka Samarasinghe formerly of Asia Securities. Two other directors are Ajahn Punchihewa, Prasanna Chandrasekara also from Asia.

Auerbach relies heavily on research for its investments decisions.

TKS said the exclusive deal with Auerbach is part of ties up with few other international partners. It said that Auerbach has picked TKS as they value the professionalism and expertise of the team heading TKS Securities. The broking firm says it is in business to serve clients as a fiduciary of their investments and promises unparalleled equity trading, supported by comprehensive investment research in Sri Lanka’s capital market space.

“We take great pride in the growth of our business that has come through our referrals from satisfied clientele. We focus on stretching our services beyond Indian Ocean borders with full-fledged branch network providing live trading facilities and new online software aims to increase investor access to investment opportunities in Sri Lanka,” a TKS spokesman said.

It has also forged a strategic alliance with foreign Fund/Wealth Management Companies, world-renowned research/media firms and other local and foreign High Net Worth clientele. Among services provided by TKS are Equity Broking Services, Wealth/Portfolio Management, In-depth research on key listed Companies, Strategic Investments in listed and private placements, Mergers & Acquisition, Restructuring and Recapitalisation, Listing and IPOs and Project appraisals and development.

Major shareholder of TKS Holdings is Tiong King Sing who is the Deputy Chairman and Chief Executive Officer of Wijaya Baru Global Berhad, a company listed on the Main Board of Bersa Malaysia. He is also the President and Chief Executive Officer of Wijaya Baru Group of Companies and sits on the Board of Bintulu Port Authority. Tiong is presently a Member of Parliament of Malaysia.

source - www.ft.lk

CSE1 wrote:One of the biggest US based broking houses focusing on emerging markets, Auerbach Grayson and Co has picked new kid on the block TKS Securities as its exclusive broker in Sri Lanka.

This breakthrough for TKS puts it among 127 top broking houses in markets and countries Auberbach deals in.

The US firm previously worked with Asia Securities for which Auerbach deals accounted for around 60% of total turnover.

TKS is a Malaysian based investment house and is part of Malaysian MP and business leader Tiong King Sing owned TKS Holdings, which has exposure to finance, real estate and hotels. Asia Capital is also now controlled by Malaysia-based business tycoon Vijay Eswaran.

Formed by a group of highly experienced management team comprising veteran stockbrokers and key executives, TKS saw several of Asia Securities senior staff joining.

TKS’ lead consultant is top fund manager and investor Asanga Seneviratne who co-founded Asia Capital. TKS team headed by former Chief Operating Officer Hussain Gani who is the CEO/ Director also includes key executives and leading brokers with experience over 15 years in equity trading/placements. Its research team is headed by Danushka Samarasinghe formerly of Asia Securities. Two other directors are Ajahn Punchihewa, Prasanna Chandrasekara also from Asia.

Auerbach relies heavily on research for its investments decisions.

TKS said the exclusive deal with Auerbach is part of ties up with few other international partners. It said that Auerbach has picked TKS as they value the professionalism and expertise of the team heading TKS Securities. The broking firm says it is in business to serve clients as a fiduciary of their investments and promises unparalleled equity trading, supported by comprehensive investment research in Sri Lanka’s capital market space.

“We take great pride in the growth of our business that has come through our referrals from satisfied clientele. We focus on stretching our services beyond Indian Ocean borders with full-fledged branch network providing live trading facilities and new online software aims to increase investor access to investment opportunities in Sri Lanka,” a TKS spokesman said.

It has also forged a strategic alliance with foreign Fund/Wealth Management Companies, world-renowned research/media firms and other local and foreign High Net Worth clientele. Among services provided by TKS are Equity Broking Services, Wealth/Portfolio Management, In-depth research on key listed Companies, Strategic Investments in listed and private placements, Mergers & Acquisition, Restructuring and Recapitalisation, Listing and IPOs and Project appraisals and development.

Major shareholder of TKS Holdings is Tiong King Sing who is the Deputy Chairman and Chief Executive Officer of Wijaya Baru Global Berhad, a company listed on the Main Board of Bersa Malaysia. He is also the President and Chief Executive Officer of Wijaya Baru Group of Companies and sits on the Board of Bintulu Port Authority. Tiong is presently a Member of Parliament of Malaysia.

source - www.ft.lk

Asia Capaital seems to be recovering well from the last few year downfall. Their stockbrokering arm is one business only. They have other including Asian Alliance Insurance which is doing well. Today there was a big crossing of AAIC.

Though this will be a temporary hit to their stockbrokering business the chairman said they will look for other avenues. Lets wait and wacth.