Kenanga Investment Bank, Mimos to promote fintech in Malaysia

PETALING JAYA: Kenanga Investment Bank Bhd has entered into a memorandum of understanding (MoU) with Mimos Bhd to promote and advance financial technology (fintech) in Malaysia.
Mimos is the national research and developmentcentre in information and communications technology (ICT). To date, it has filed more than one thousand patents in various technology domains across key socio-economic areas.
Kenanga Investment Bank told Bursa Malaysia yesterday the collaboration is an opportunity to develop home-grown technology and will provide a platform to accelerate knowledge exchange, proof-of-concept projects, field-testing and training between the parties.
The group said any new intellectual property created, developed, or reduced to practice jointly by the personnel of the parties will be jointly owned by Mimos and Kenanga Investment Bank.
Kenanga Investment Bank said the MoU will not have any effect on the issued share capital and substantial shareholdings of the group and is not expected to have any material effect on the net assets per share, gearing and earning per share of the group for the financial year ending Dec 31, 2017.