PhillipCapital Announces Acquisition of Hak Menkul Kiymetler A.S. in Turkey

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PhillipCapital is pleased to announce the acquisition of HAK MENKUL KIYMETLER A.S. (“HAK”), a securities and futures brokerage firm based in Istanbul, Turkey. This acquisition further extends our reach of markets, and will allow the Group to tap into the growth of the capital markets in Turkey and the region. With this acquisition, PhillipCapital now operates in 13 countries in Asia, Australia, Europe and the United States. This is in line with the Group’s objective of providing a wider range of financial products and services for its customers.

PhillipCapital looks forward to working closely with HAK to introduce more Asian and
global financial products to the Turkish markets. We also plan to introduce Turkish financial products to Asia through our extensive distribution network

PhillipCapital is pleased to announce the acquisition of HAK MENKUL KIYMETLER A.S. (“HAK”), a securities and futures brokerage firm based in Istanbul, Turkey. This acquisition further extends our reach of markets, and will allow the Group to tap into the growth of the capital markets in Turkey and the region. With this acquisition, PhillipCapital now operates in 13 countries in Asia, Australia, Europe and the United States. This is in line with the Group’s objective of providing a wider range of financial products and services for its customers. Founded in 1990 and a pioneer in online trading, HAK is a member of both the Istanbul Stock Exchange and the Turkish Derivatives Exchange. The company also holds a minority stake in Takasbank A.S., the central clearing and settlement bank.

“We are delighted to have this new partnership with PhillipCapital. We look forward to benefit from their expertise in stockbroking and related activities to expand our business in Turkey, while tapping into the Group’s global connectivity”, said Kerem Korur, General Manager of HAK.

“PhillipCapital looks forward to working closely with HAK to introduce more Asian and global financial products to the Turkish markets. We also plan to introduce Turkish financial products to Asia through our extensive distribution network. We are proud that HAK will become the first Asian-owned firm to be a member of the Istanbul Stock Exchange”, said Thomas Yeoh, Director of Corporate Development, PhillipCapital.

Situated at the crossroads of Eastern Europe and Central Asia, Turkey has a population
of over 70 million, Gross Domestic Product (GDP) per capita exceeding USD 10,000, and GDP growth rate of 8.9% in 2010. There are currently more than 350 companies listed on the Istanbul Stock Exchange, while the futures market, Turkish Derivatives Exchange, has been growing steadily since its launch in 2005. Its young and dynamic population is driving its economy on a high growth trajectory. In the financial services area, Turkey aims to be an international financial centre for the region.

About PhillipCapital
Over the past 36 years, PhillipCapital is an established integrated Asian financial
institution with network offices around the world, offering a comprehensive suite of
innovative financial products and services to both retail, institutional and corporate
clients. Today, PhillipCapital operates in the financial hubs of 13 countries – Singapore, Malaysia, Indonesia, Thailand, Hong Kong, China, Japan, Sri Lanka, Turkey, United Kingdom, France, Australia and USA.

For more information, visit http://www.phillip.com.sg.

About HAK MENKUL KIYMETLER A.S. (“HAK”)

Founded in 1990, HAK is a securities and futures brokerage firm based in Istanbul, Turkey. It is a member of both the Istanbul Stock Exchange (ISE) and the Turkish Derivatives Exchange (Turkdex). The company also holds a minority stake in Takasbank A.S., the central clearing and settlement bank. A pioneer in online trading, it launched its Internet trading platform in 1998. Currently, its activities are mainly focused on ISE securities, Turkdex futures, and government bonds.

For more information, visit http://www.hakmenkul.com.tr

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Kenice Tay