KUALA LUMPUR (Oct 4): ET Smart Wealth Sdn Bhd, a wholly-owned subsidiary of Equitiestracker Holdings Bhd, has been granted a capital markets services licence (CMSL) by the Securities Commission Malaysia, which allows the company to undertake fund management activities.

However, ET Smart Wealth must still satisfy several conditions including appointing a licensed director, two licensed representatives, one compliance officer and increase its paid-up capital and shareholders’ funds to a minimum of RM2 million within six months.

“The CMSL would enable the company to further expand its business to include the complementary fund management business, which would create an additional income stream for the group and thus, is expected to contribute positively to the future earnings of the group,” said Equitiestracker in a bourse filing on Tuesday (Oct 4).

Equitiestracker is an equity investment research platform and investment training provider. Its revenue is derived mainly from Malaysia and its customer base includes retail investors and institutional clients. The bulk of its sales comes from financial institutions such as securities/investment firms, as well as Bursa Malaysia.