Kay Hian can trace its history back to the early 1900s as Kay Hian & Co (Pte),
a commodities and securities dealer which subsequently became a founder member
of the Singapore Stockbrokers' Association, the forerunner of today's SGX. It
acted as an agency broker, primarily in Singapore and Malaysia securities. Kay
Hian Hldgs Ltd was incorporated in Singapore on 1 August 1990 as an investment
holding company and in October of that year issued 25 percent of its equity to
In 1989, James Capel (a subsidiary of the HSBC group) merged its stockbroking
activities with Kay Hian to form the Kay Hian James Capel Hldgs Ltd. It became
Kay Hian Hldgs Ltd in 1996 when James Capel's holding in the Group was reduced
to less than 5 percent.
Following the merger of Kay Hian Hldgs Ltd, UOB Securities and the United
Overseas Bank Ltd Group's overseas stockbroking interests, UOB-Kay Hian Hldgs
was formed and listed on the SGX-ST on 23 October 2000. At the same time, Kay
Hian Hldgs Ltd was delisted.
Its subsidiary, UOB Kay Hian Pte Ltd is an amalgamation of eight stockbroking
houses, namely, Kay Hian, UOB Securities, RHB-Cathay Securities, OUB
Securities, Grand Orient Securities, J M Sassoon, Millennium Securities and the
retail arm of Credit Suisse First Boston.
As part of the UOB Group, it is able to tap on the Group’s competitive
strengths to cross-sell its products. It has broadened its business activities
to cover fund management, unit trust, derivatives trading and corporate finance.
To capitalize on the emerging opportunities in Asia, it has established offices
spanning the region including Bangkok, Hong Kong, Kuala Lumpur and Shanghai
besides the HQ in Singapore. It acquired BNP Paribas’ Thai retail operations
in late 2001 with the objective of building a strong stockbroking and financial
services arm in Thailand. The acquisition of Worldsec Intl, a Hong Kong-based
brokerage house, position the Group well for the Chinese equity market. To
enhance its institutional sales capability, it has also established sales
offices in key global financial centres in New York and London.