Logo of Phnom Penh Post newspaper Phnom Penh Post - CIMB, CapBridge to provide firms access to private capital

CIMB, CapBridge to provide firms access to private capital

Content image - Phnom Penh Post
This MoU will see CIMB Bank and CapBridge collaborating to offer the bank’s customers in Cambodia and other countries access to private capital and liquidity through the CapBridge private capital ecosystem. POST PIX

CIMB, CapBridge to provide firms access to private capital

CIMB Bank Bhd’s recent memorandum of understanding (MoU) with Singapore’s CapBridge Pte Ltd will facilitate capital raising and trading of shares for private companies through the latter’s investment platform and the 1exchange (1X) private securities exchange.

This MoU will see CIMB Bank and CapBridge collaborating to offer the bank’s customers in Malaysia, Singapore, Indonesia, Thailand and Cambodia access to private capital and liquidity through the holistic CapBridge private capital ecosystem, CIMB said in a statement on Sunday.

The CapBridge Investment platform is a private capital raising platform for growth stage and pre-initial public offering (IPO) companies, while 1X is a trading platform which facilitates a buyer-seller match for private securities listed on the exchange by using blockchain to register and track the shareholdings of investors who trade on the platform.

The wide-ranging partnership provides a unique value proposition to CIMB’s small- and medium-sized enterprise (SME) and mid-sized corporation clients looking to raise capital and have part of their shares traded, while remaining private and in full control of their businesses.

‘Better-positioned’

Victor Lee Meng Teck, CEO of Group Commercial Banking, CIMB Group, said: “As the main banker for companies wishing to raise funding on CapBridge’s platforms, CIMB is even better-positioned to help its SME and mid-sized corporation customers access the capital they need to grow their business.

“In line with Forward23, CIMB’s next mid-term growth plan, this collaboration with CapBridge also further strengthens our refocused SME proposition to help them grow through tech-driven end-to-end solutions, and by transforming our customer journey.”

Meanwhile, CapBridge founder and CEO Johnson Chen said: “With the CapBridge ecosystem, private companies have a fully integrated private capital solution.”

The private companies also can gain access to both growth capital through primary fundraising, as well as enable partial liquidity via secondary trading of private securities on 1X subsequently, he said.

“As of today, we are already helping companies list on 1X and we look forward to CIMB’s clients joining our growing ecosystem, and working closely with CIMB Bank to bring our innovative suite of private market capital services to even more growth companies in the Asean region.”

Tapping on blockchain infrastructure for security, 1X, together with its trust partners, harnesses the immutability and connectivity of the global public Ethereum network to record share ownership.

1X investors with digital wallets can thus directly check their real-time shareholdings without going through a trust administrator.

The exchange can also potentially connect to the millions of digital wallets actively seeking regulated and tradable private equities, thus linking companies to a truly global liquidity or capital pool, Chen added. THE STAR (MALAYSIA)/ASIA NEWS NETWORK

MOST VIEWED

  • US imposes sanctions on Oknha Pheap and Kun Kim

    The Ministry of Foreign Affairs and International Cooperation expressed strong dismay on Monday over the designation of Cambodian tycoon Oknha Try Pheap and General Kun Kim under the US’ Global Magnitsky Act. “It is very disturbing when the public figures of a country become the

  • Mother, daughter killed in hotel fire

    The bodies of a mother and daughter were found locked in an embrace after they were killed in a hotel fire in Phnom Penh at around 3:30am on Wednesday at the Phkar Chhouk Tep 2 Hotel and Restaurant in Phsar Doeum Kor commune, in the capital’

  • EBA withdrawal a destruction of EU achievements, PM says

    Prime Minister Hun Sen said the EU’s possible suspension of its Everything But Arms (EBA) agreement amounted to a destruction of its achievements in the Kingdom and the demise of the opposition group. Hun Sen made the remarks while addressing more than 6,700 students during

  • Rights Day forum denied in Sihanoukville

    The Preah Sihanouk provincial administration last Saturday denied the request of land communities for a public location in the province to celebrate International Human Rights Day 2019 as the administration had already held forums to discuss land issues. However, the land community representatives said they would

  • US told to refrain from interfering in Sokha case

    Senior Cambodian officials said on Thursday that the US can monitor Kem Sokha’s trial as it wishes but would not be allowed to interfere in court procedures. The point was made in response to US Secretary of State Mike Pompeo’s comments on Wednesday

  • Europe expected to consider EBA efforts, impact

    The government said it expects the European Commission to consider its efforts to comply with the “Everything But Arms” (EBA) regulations and the impact on one million workers should access to the agreement be suspended in February. The Ministry of Foreign Affairs and International Cooperation