KUALA LUMPUR (Sept 17): Tricor Services (Malaysia) Sdn Bhd has acquired Equiniti Services Sdn Bhd, one of the two companies that provide issuing house services governed by the Securities Commission, to expand its market share.

With the acquisition, Equiniti has been renamed to Tricor Investor & Issuing House Services Sdn Bhd (TIIH). Tricor Malaysia now offers a complete investor services package to public companies that aim to list on Bursa Malaysia.

"The acquisition fits in very well for us, in terms of our strategy for growth and provision of a total solution for our clients," Tricor Malaysia chief executive officer and managing director Yeap Kok Leong told a press conference today.

Tricor Malaysia has added 24 new share registration clients after the acquisition, bringing its total number of clients to 324, accounting for one-third of the market.

In total, Tricor Malaysia has a client base of more than 6,000.

Johnny Ng, group CEO and group managing director of the Tricor Group, said that Tricor Malaysia is a key member of the group as a whole.

“Out of our total 1,800 staff, 360 of them are from Malaysia. Tricor Malaysia gives important contribution to the group, financially and strategically to our operations,” Ng said.

Going forward, Tricor Malaysia will be embarking on a new segment for its business, which includes providing business centre services, also known as the Tricor Hive.

The Tricor Hive is based in Bangsar South, Kuala Lumpur, with facilities including virtual office and hot desk services, meeting suites, business suites and the Tricor Hive Exchange Lounge.

Meanwhile, Ng said Tricor Group “may consider” expanding into Taiwan, Cambodia and the Philippines. The group had recently set up operations in Vietnam.

The group is also looking to expand outside Asia, as Tricor already has presence in most of the Asian countries.

Tricor Group is a global provider of integrated business, corporate and investor services, with presence in countries including Hong Kong, Barbados, British Virgin Islands, the UK, Dubai, the United Arab Emirates, India, Indonesia, Singapore and Malaysia.