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Native name | 大华继显控股有限公司 |
|---|---|
| Company type | Public |
| SGX:UOKH | |
| Industry | Financial services |
| Founded | Early 1900s (as Kay Hian & Co) |
| Founder | Khoo Kay Hian |
| Headquarters | |
Key people | Chairman: Mr. Wee Ee-chao |
| Services | |
| Revenue | SGD$375 million[1] |
| SGD$124 million[2] | |
| SGD$75 million[3] | |
Number of employees | 3,036[4] |
| Parent | United Overseas Bank |
| Website | www |
UOB Kay Hian Holdings Limited (Chinese:大华继显控股有限公司;pinyin:Dàhuá Jì Xiǎn Kònggǔ Yǒuxiàn Gōngsī) is aSingapore-basedbrokerage firm that engages inbrokerage services,private wealth management,investment management andfinancial research. UOB Kay Hian was founded in the early 1900s by Khoo Kay Hian as Kay Hian & Co (Pte).
It is headquartered in Singapore, with additional offices inHong Kong,Shanghai,Jakarta,Makati City,London,Toronto,Kuala Lumpur,Bangkok andNew York City. Following its incorporation in June 1970 and the merger of Kay Hian Holdings withUOB Securities in October 2000, UOB Kay Hian Holdings was established.
In the early 1900s,Khoo Kay Hian established a stockbroking firm,Kay Hian & Co, to deal in commodities and securities.[5] Kay Hian & Co was one of the founding members of theSingapore Stockbrokers Association. The company was incorporated as a private company,Kay Hian & Co (Pte), in June 1970.
After the Stock Exchange of Malaysia and Singapore was split into two stock exchanges in Singapore and Malaysia, Kay Hian & Co (Pte) became a member of theStock Exchange of Singapore (SES).
In August 1987, the company was subsequently renamedKay Hian Pte Ltd.
On 5 January 1989, James Capel International Holdings BV was approved by the SES to take up 30% equity stake of Kay Hian Pte Ltd.[6] In June, James Capel Singapore Holdings Pte Ltd merged with Kay Hian Pte Ltd and the company was renamedKay Hian James Capel (KHJC).[7] In October 1990, KHJC issued 25% of its equity to the public and was listed on the SES.On 1 Aug 1996, HSBC James Capel group reduced its stake in KHJC and the company was renamed asKay Hian Holdings Ltd.[8]
In 1999, Kay Hian Holdings Ltd managed to secure a seat on theStock Exchange of Hong Kong.
On 27 September 2000,United Overseas Bank Securities Pte Ltd's and Kay Hian's shareholders approved the merger of both companies. The merger includes Kay Hian Holdings Ltd, UOB Securities Pte Ltd and The United Overseas Bank Group's overseas stockbroking interests (including Hong Kong, Thailand, Indonesia and the Philippines). The merger was approved by the High Court of Singapore and was effective on 21 October. In January 2001, the merged company was namedUOB-Kay Hian Holdings Ltd.[9]
In March 2001, Kay Hian Overseas Securities Ltd and United Mok Ying Kie Ltd were merged.
In May 2002, OUB Securities (Hong Kong) Ltd and UOB Kay Hian (Hong Kong) Ltd were merged.
In June 2005, UOB Kay Hian Securities (Thailand) Public Company Limited was listed on Stock Exchange of Thailand.
On 31 August 2022, UOB Kay Hian was finedS$375,000 by theMonetary Authority of Singapore (MAS) for failing to comply with business conduct requirements under the Securities and Futures (Licensing and Conduct of Business) Regulations, as well as anti-money laundering andcountering the financing of terrorism requirements listed by the MAS.[10] UOB Kay Hian failed to detect and reportsuspicious transactions despitered flags of potential nominee arrangements, which may be abused to concealbeneficial ownerships and facilitatemarket misconduct. UOB Kay Hian also failed to verify customers' source of wealth, even though they were determined by the firm to be of higher money laundering risk.[11][12]
On 4 July 2025, UOB Kay Hian was handedS$2.85 million in penalty by theMonetary Authority of Singapore (MAS) for flouting anti-money laundering controls related to the 2023 money laundering case involving more than S$3 billion in assets. The 10 criminals were reportedly part of the Fujian gang, anorganised crime syndicate originally fromChina’sFujian province who washed more than S$3 billion inillicit funds and using multiplepassports to avoid detection. All have been jailed, deported after serving their sentences and barred from re-entering Singapore.[13]
UOB Kay Hian did not adequately establish and corroborate the source of wealth of customers who posed a higher risk of money laundering, even though there were significant discrepancies in the documents they had provided. UOB Kay Hian also did not adequately investigate suspicious transactions flagged by its own system and fell short in following up onsuspicious transaction reports filed against its customers. The institution failed to take adequate and timelyrisk mitigation measures, such as enhanced monitoring and reviewing the customers’ risk classification. In additional, UOB Kay Hian failed to implement adequate policies or processes for rating money laundering risks presented by some of its customers. This led to mis-rating of the risks and affected its ability to address higher money laundering risks presented by several persons of interest.[14]
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