On 28 September 2021, HKFAEX GROUP LIMITED (HKFAEX) signed a Collaboration Agreement (Agreement) with CAPITAL INVESTMENT BANK LABUAN LIMITED (CIBL) for strategic cooperation in building platforms to facilitate commodities and virtual assets trading and clearing in China, Hong Kong, South East Asia and Islamic countries.
As part of the Agreement, HKFAEx agrees to assist CIBL to apply for licenses from Malaysian authorities for digital token issuance, securities token issuance, digital assets exchange, digital assets custodian and digital banking, and to share experiences and knowhows to help CIBL to construct its regional trading platform to facilitate the trade settlement amongst the eight developing Muslim-majority countries including Malaysia, Indonesia, Bangladesh, Pakistan, Turkey, Egypt, Iran and Nigeria (Developing-8).
On the other hand, CIBL agrees to provide technical support to help HKFAEx to build the platform for the trading and clearing of global commodities and virtual assets, Hong Kong International Commodities Exchange (“HKICEx”), and to apply jointly with HKFAEx for the operation and management contract from exchanges which are looking for innovative and experienced management team.
Mr. Lewis Wan, Chairman of HKFAEx, indicated that “we have always regarded South East Asia and Muslim countries as our important development regions, that is also the reason why we establish our first overseas office in Malaysia which is not only a hub in South East Asia but also an influential Muslim country and leading Islamic Finance center with over 60% Islamic bond market share. We are glad to have CIBL as our partner and we strongly believe that combining CIBL’s technical strength and network resources with our management experience in the platform trading industry, we are confident the collaboration would come up with a great success.”
Mr. Mac Ho, Managing Director of HKFAEx, said “our Malaysia Office has been working for more than two years and we are lucky to receive strong support from the Ministry of Entrepreneur Development of Malaysia and Active Malaysia. As a result of the pandemic, our development in Malaysia and ASEAN has been moving slow. The signing of Collaboration Agreement with CIBL today not only shows our success on collaborating with an influential financial institution but also marks our determination to restart our development plan in the post-pandemic era.”
HKFAEx Managing Director Mac Ho (right) and CIBL Chairman Datuk Nik Mod Amin Bin Nik Abd Majid (left) shake hands after the signing of the Collaboration Agreement.
ABOUT HKFAEX GROUP
Established in Hong Kong in 2006, HKFAEx Group have three main operating entities including HKFAEX GROUP LIMITED, HKFA CLEARING LIMITED and REALCHAMP ASSET MANAGEMENT LIMITED, covering seven business lines including dealing in commodities, dealing in securities, registration and clearing, index compilation, investment advisor and asset management. In terms of value of transaction and market capitalization of products listed, HKFAEx Group is a top-three exchange group in Hong Kong.
HKFAEX GROUP LIMITED is regulated by the Hong Kong Securities and Futures Commission and is the major shareholder of Nasdaq listed Oriental Culture Group (OCG.US) whose wholly owned subsidiary, China International Assets and Equity of Artworks Exchange, is the world’s largest exchange of coins and stamps.
HKFA CLEARING LIMITED holds the "Trust or Company Service Provider License" (TCSP) which is granted by the Hong Kong Companies Registry in accordance with Anti-Money Laundering and Terrorist Financing Ordinance (AMLO) to provide trust and custodian services.
ABOUT CIBL
CAPITAL INVESTMENT BANK LABUAN LIMITED (CIBL), a wholly-owned subsidiary of FCA Capital Sdn Bhd, is an offshore investment bank based in Labuan, Malaysia, and is regulated by Labuan Financial Services Authority.
FCA CAPITAL SDN BHD is an advisory firm with the Capital Markets Services Licence from the Securities Commission Malaysia.
CIBL is in the process of building a next-generation distributed payment network to catalyze trades amongst the eight developing Muslim-majority countries including Malaysia, Indonesia, Bangladesh, Pakistan, Turkey, Egypt, Iran and Nigeria (D8), and between under-served regions including BALKAN-ASEAN, AFRICA-ASEAN and CHINA-BALKAN.
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