PM is part of the MUI Group and is a Universal Broker. It was the first of the three
organisations to evaluate Guava, and the contract was also the first to be finalised. OSK and Kenanga are two of the largest Universal Brokers in Malaysia, and have both applied for Investment Banking licences to be issued by Bank Negara Malaysia, the countryâs central bank.
OSK has issued a letter of intent to CCK, and the contract negotiations have been finalised and the document is awaiting signature. The implementation for both PM and OSK have already commenced.
All three financial institutions will be using Guava to handle their total treasury functions, covering money market and securities trading, for dealing, risk management, settlement and accounting functions. Guava will also cover OSKâs corporate banking requirements.
Mr Joseph Wong, Managing Director, CCK said, âWe are delighted that PM, OSK and Kenanga have selected Guava as their treasury solution of choice. Winning three new contracts in such rapid succession is a wonderful achievement and establishes Guava in the forefront of advanced treasury solutions in the market place, rich in functionality and flexibility and fulfilling the ever increasing and changing market requirements. CCK was able to win these contracts as it is
responsive to the clientsâ needs for an innovative solution.â
Datoâ Nik Mohamed Din, the Chairman of OSK, said âOSK has selected Guava after a detailed evaluation of international and local solutions. We are very impressed by both the functionality and the flexibility of the software. OSK is excited about its change into an Investment Bank, and Guavaâs functionality will help us continue to offer our clients the best in services. The flexibility will also allow us to make full use of the innovation of our team, whilst continuing to
meet our uncompromising standards of excellence.â
In all three cases, Guava will be implemented under CCKâs Rapid Implementation
Methodology. CCKâs consulting team will work closely with the three organisations to deliver the best solution swiftly and professionally. CCKâs in-depth understanding of treasury and the needs of our customers will ensure that all three organisations will be live before 1 July, at which time the Investment Banking licences are expected to commence.
Guava is a fully integrated suite of front to back office treasury application, which provides users with effective straight through processing. The suite of products cover dealing (including pricing of financial products, portfolio analysis and deal capture), risk management (including limit management, computation of Value at Risk and compliance reporting) operations (including confirmations and settlement) and accounting.