Citadel Group, which was established in 2019 has been focused on growing the business in Peninsular Malaysia and establishing their base in Borneo. In line with their effort to gear up towards growing locally and internationally, it is time for them to make their presence known in the Borneo financial industry.
Citadel Group Chairman and Group CEO, Dato’ Jeff S. Medina said, “We want to be seen as a credible, reliable and sound finance organisation with the applicable licences from the relevant regulators.”
According to Dato Jeff, “Citadel Group seeks to unlock digital financial instruments to assist high net worth individuals to manage their wealth as well as SMEs to survive and thrive in these challenging times, amidst a recovering economy.”
Citadel wealth products and services promote Islamic financing and this has been evident in their previous fund-raising exercises which was used to further expand their e-payment gateway business both locally and into the neighbouring countries in the Asian region.
Citadel Group hosted their first Borneo media networking session with selected media houses, as the start to establishing their presence in the financial market.
The corporate presentation and media luncheon was attended by leading media practitioners. They were treated to a hearty luncheon that took place at the Hilton Hotel, Kuching, hosted by Citadel Group’s Senior Management and representatives from their Kuching, Sibu Sarawak and Kota Kinabalu, Sabah offices.
Two other presentations on Citadel Group services were presented by Amir Mokhtar, CEO and Executive Director of Citadel Trustee Berhad and Md Harris Md Taib, CEO of Citadel Capital.
Amir further elaborated on their Islamic Trustee products. In this case, they not only hold their clients’ funds in trust but also grow them during the trust period. This significantly benefits the benefactor upon the passing of their client. Amir also highlighted their Islamic Citadel Hybrid Family Trust (ICHFT) that caters to families by combining wealth preservation and wealth accumulation.
On another front, Harris explained that his role is in the recruitment of agents that will further assist in obtaining new clients to partake in Citadel Trustee products as well as other investment instruments, suitable to the clients’ risk appetite and portfolio.
Asmi Haron, CEO of Niu Group explained that their company was set up mainly to assist SMEs in managing their financial concerns. Niu Group mainly offers factoring (purchase of business accounts receivable [invoices] to meet SMEs short-term liquidity needs) and micro financing services for salary-employed individuals.
Asmi explained that they aim to provide financial consulting advisory services to assist SMEs with managing their money and providing an alternative source of financing to qualified businesses and individuals.
Funds raised in previous fund-raising exercises will be used primarily for the expansion of e-payment platforms in Malaysia and other Asian countries. This FinTech company, which is licensed by Bank Negara Malaysia, specialises in payments for over 400 F&B restaurants and educational companies. “This initiative is in line with Bank Negara Malaysia’s Strategic Thrust 3: Advance Digitalisation of the Financial Sector and we are happy to be able to support the realisation of this aim with our contribution,” said Syaiful.
