KUALA LUMPUR, Dec 13 — CGS-CIMB Securities Sdn Bhd and Pertama Digital Bhd is collaborating to develop digital financial services to empower investors post-pandemic.

Deputy chief executive officer Alan Inn Wei Loon said presently, there are 200,000 retail investors on board with the brokerage firm and it aimed to widen the reach nationwide via the collaboration.

"Robo advisor, Islamic space, cryptocurrency and digital stockbroking are among the prospects eyed by CGS‐CIMB under the collaboration,” he said at the memorandum of understanding (MoU) signing ceremony here today.

Under the MoU, the parties would combine their respective strengths to create dependable products with a hyper focus on the needs of retail customers, in support of the Capital Market Masterplan 3 launched by the Securities Commission on Sept 21, 2021.

Pertama Digital director of strategy Saify Akhtar said the flight to digital has created fertile grounds for international investment platforms to land in Malaysia after the Covid-19 accelerated the demand for digital financial services, including digital stockbroking.

"These include Wahed Invest from the USA, Stashaway from Singapore and Raiz from Australia.

"This collaboration is an opportunity to serve our diverse rakyat via a hyperlocal strategy, giving an opportunity to those of us who are otherwise left behind,” he said.

Meanwhile, Saify said Pertama Digital is open for mergers and acquisitions to support the collaboration such as in digitalisation services. — Bernama