Malaysia's Kenanga Investment Bank picks 4.99% stake in Merchantrade Asia

Kenanga Investment Bank group managing director Chay Wai Leong

Malaysia’s Kenanga Investment Bank Bhd has acquired a 4.99 per cent interest in e-money player Merchantrade Asia for an undisclosed amount.

The stake acquisition follows Kenanga’s recent collaboration with Merchantrade to introduce Malaysia’s first stockbroker e-wallet, Kenanga Money, the investment bank said in a statement on Wednesday. 

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