ANNUAL REPORT
2022

OUR DIGITAL JOURNEY

  • Rakuten Joint Venture

    Kenanga entered into a joint venture with Japanese internet giant Rakuten Securities, Inc.

    2016
    2017

    Back Office Digitalisation

    Kenanga completed back office digitalisation to enhance efficiencies.

    Launch of Rakuten Trade

    Kenanga and Rakuten Securities, Inc. jointly launched Rakuten Trade, Malaysia’s first fully digital equity broker.

  • Launch of Remisier Portal

    Kenanga launched a new portal to enable remisiers to work remotely.

    2019
    2020

    E-Wallet Launch with Merchantrade

    Kenanga launched an e-wallet with Merchantrade and later acquired a 4.99% stake in the company.

    Partnership with CapBay

    Kenanga entered into partnership with CapBay to digitalise first-in-Malaysia factoring solution unifying both, private and public sector’s receivables under one (1) platform.

  • A Stake in Tokenize Xchange

    Kenanga received approval from Securities Commission Malaysia to acquire 19% stake in Digital Asset Exchange Platform, Tokenize Xchange.

    2021
    2022

    Launch of a Robo-Advisory Platform

    Kenanga launched a fully A.I.-driven robo-advisory platform, Kenanga Digital Investing.

    Signed Memorandum of Understanding with Ant Group

    Kenanga entered into partnership with Ant Group to develop Malaysia’s first Wealth SuperApp, geared to revolutionise wealth generation and management.

    MESSAGE FROM CHAIRMAN

    Dear Shareholders,
    This coming year, we will be celebrating Kenanga’s 50th anniversary as a proud home-grown brand that has evolved from a humble stockbroking company to the country’s leading independent investment bank. Over the years, we have dedicated to providing exceptional services to our clients, helping them grow their wealth and achieve their financial goals.

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    GROUP MANAGING DIRECTOR’S MANAGEMENT DISCUSSION & ANALYSIS

    Dear Shareholders,
    In a year shaped by intense headwinds, the enterprising spirit of our people was the cornerstone to many new opportunities that tapped the underserved segments, as well as drove the design of new solutions that responded to changing demands fueled by the volatile market conditions. This culture of tenacity and growth mindset has enabled us to continue delivering healthy returns to shareholders in the face of a tumultuous year.

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    RESULTS

    Profit Before Tax

    RM 74.2 million

    Net Profit

    RM 55.4 million

    Dividend Declared

    6.0 sen

    Earnings Per Share

    7.5 sen

    Annualised Return on Equity

    5.3%

    OUR PERFORMANCE REVIEW

    FIVE (5)-YEAR GROUP FINANCIAL HIGHLIGHTS

    • Operating Revenue
      (RM’000)

      669,368

      '18

      651,270

      '19

      973,762

      '20'

      891,491

      '21

      723,086

      '22

    • Profit Before Taxation
      (RM’000)

      28,851

      '18

      42,951

      '19

      134,715

      '20'

      148,236

      '21

      74,150

      '22

    • Shareholders' Funds
      (RM’000)

      871,006

      '18

      904,289

      '19

      999,838

      '20'

      1,050,329

      '21

      1,017,280

      '22

    • Basic Earnings per Share
      (sen)

      1.67

      '18

      3.78

      '19

      14.56

      '20'

      16.29

      '21

      7.50

      '22
      Five (5)-Year Group Financial Highlights

      OUR SUSTAINABILITY APPROACH

      As a leading independent investment bank, Kenanga is committed to promoting and adopting business-relevant sustainable practices by embedding ESG in our core business strategy and operations, while considering the ESK risks and opportunities in shaping up sustainable investment products and services towards contributing to the best interests of our stakeholders.

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      • Sustainable Economic Growth

        Integrate ESG factors into our business decisions and value chain and manage ESG risks and opportunities as we innovate to build a sustainable future.

        Alignment with UN SDGs

        Responsible Investment

        Incorporate ESG factors into our investment processes, offer and promote sustainable products and solutions and take an active stewardship role in the companies in which we invest.

        Digitalisation

        Leverage technological advancements to develop secure, meaningful and innovative products and solutions that will help shape the future of investing.

      • Environmental Stewardship

        Promote climate positive culture within the organisation and relevant external stakeholders to attain a low carbon economy.

        Alignment with UN SDGs

        Climate Impact

        Take ownership of climate risks and opportunities of our operations through monitoring environmental performance, identifying and practising behaviours to promote climate positive action and outcomes.

      • Good Governance

        Lead a responsible business underpinned by a robust compliance culture and high levels of ethical standards.

        Alignment with UN SDGs

        Good Business Conduct

        Promote and embed good business conduct and high standards of integrity throughout the organisation, operate ethically and transparently and in compliance with applicable laws and regulations.

      • Empowering People and Communities

        Create a positive impact on our employees, clients, business associates, as well as communities in need.

        Alignment with UN SDGs

        Diversity, Inclusion and Wellbeing

        Inculcate an equitable workplace culture that recognises the unique needs and contributions of employees and where employee rights, safety, health and wellness are promoted.

        Community Investment

        Enhance financial literacy for investors and the community through education. Reaching out to communities in need through targeted social investments and employee volunteerism.

      Our Sustainability Approach Our Sustainability Approach

      HOW WE ARE GOVERNED

      Corporate Governance Overview Statement

      Corporate governance is regarded by the Board of Directors (“Board”) as vital to the success of the business of Kenanga Investment Bank Berhad (“KIBB” or “the Company”). Therefore, the Board is unreservedly committed to applying the principles necessary to ensure that the principles of good governance are practised in all of the Company’s business dealings and operations.

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      Ethics And Compliance Statement

      Kenanga Investment Bank Berhad and its subsidiary companies (“Kenanga”) is committed to ensure our business and operations are conducted professionally in compliance with the applicable laws and regulations while adopting the highest standards of ethical principles and integrity. We continuously emphasise on the importance of a strong governance framework and robust operational controls in our pursuit of business opportunities with the goal of maintaining sustainable presence.

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      Statement on Risk Management and Internal Control

      Pursuant to Paragraph 15.26(b) of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”), a listed issuer must ensure that its Board of Directors (“Board”) includes in its annual report a statement about the state of its risk management and internal controls as a group. In addition, the Malaysian Code on Corporate Governance also stipulates that the Board should maintain a sound system of internal controls and review its effectiveness to safeguard Shareholders’ investments and the Group’s assets.

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      How We Are Governed How We Are Governed

      49TH ANNUAL GENERAL MEETING

      Date:

      Thursday, 25 May 2023

      Time:

      11.00 am

      Address:

      Level 19, Kenanga Tower,
      237, Jalan Tun Razak,
      50400 Kuala Lumpur,
      Wilayah Persekutuan,
      Malaysia

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      “Think Green and Go Digital”

      Annual Report 2022
      Our Digital Journey
      Chairman's Message
      Group Managing Director's Management Discussion & Analysis
      Five (5)-Year Group Financial Highlights
      How We Are Governed
      Corporate Governance Report
      Statement Accompanying the Notice of AGM and Proxy Form
      Administrative Guide
      Sustainability Report 2022
      Share Buy-Back Statement

      Annual Report 2022 Requisition Form

      Shareholders who wish for a printed copy of the Annual Report 2022 should submit their request online through this link (Hard Copy Request) and must provide all the required information accurately, i.e. full name, email address, full mailing address and shareholder's mobile number.

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