The acquisition of 100% stake in CGS-CIMB Securities (Thailand) by China Galaxy Securities has led to the name change to CGS International Securities (Thailand) (CGSI).
- CGS-CIMB Securities (Thailand) has rebranded to CGS International Securities (Thailand) following China Galaxy Securities’ full acquisition, strengthening its ties with the Chinese government and expanding its regional presence.
- The acquisition is expected to enhance the relationship between China and Southeast Asia, providing CGS International Securities with greater connections to regional clients and investment opportunities.
- CGS International Securities Research holds a positive outlook on Thai hospital stocks, anticipating profit growth from increased foreign patient influx, particularly benefiting hospital groups like Bangkok Dusit Medical Services and Bumrungrad Hospital.
CGS-CIMB (Thailand) announced a name change to CGS International (Thailand) Limited and a new abbreviation, CGSI, after China Galaxy Securities, a major securities company ranked 2nd in China, acquired 100% of the shares. The change took effect on February 5, 2024. The company aims to provide comprehensive investment services and plans to expand business in Asia, particularly by connecting Thai and Chinese customers, aiming for steady growth.
“We changed our name from CGS-CIMB to CGSI after our parent company because now China Galaxy Securities, which is owned by the Chinese government, has acquired 100% of our shares. It can be said that now CGSI is the only Thai broker which is owned by the Chinese government.”
Patcharanon Chewkriangkrai, Chief Executive Officer CGS International Securities (Thailand)
China Galaxy Securities is a major securities company or brokerage firm ranked second in the People’s Republic of China, with the Chinese government holding 100% of the shares and having more than 500 branches nationwide.
The new ownership is anticipated to strengthen the ties between China and Southeast Asia, offering increased connectivity with regional clients and investment prospects. Furthermore, CGSI Research holds a positive outlook on hospital stocks listed on the Thai bourse, forecasting revenue growth for hospital groups as a result of rising foreign patients seeking healthcare services in Thailand.
