Phillip Futures opens second Johor branch

PHILLIP Futures has expanded its Malaysia presence by opening its second branch office there in Sutera Utama, Johor Baru.

The opening on Saturday follows the establishment of its first branch, which was opened in Taman Molek, Johor Baru two months ago.

Plans are also under way to set up its third branch by the end of the year - in Penang.

Mr Lim Wah Tong, Phillip Securities executive director, said: "It allows us to reach the investor community in different parts of Malaysia directly, by being virtually at their doorsteps."

Clients can step into the branches to set up futures trading accounts or meet dealers to discuss market conditions, he said. They can also receive financial education about different products and trading platforms by attending free seminars held there.

Located at Taman Sutera Utama, the new branch offers broking services across a range of derivatives contracts, including stock indexes, metals, energy and agricultural commodities.

Mr Chong Kim Seng, Bursa Malaysia Derivatives chief executive, said: "Together, we hope to attract new clients and pave the way for greater retail participation in the derivatives market."