Mr. Tommy Taechaubol, Chief Executive Officer of Country Group Holdings Public Company Limited (SET: CGH) revealed that principal subsidiary Country Group Securities (CGS) is in the final stages of an overhaul of its technology infrastructure and preparing to launch its new digital platform. These initiatives were the outcome of a prior strategic review and funded by the company’s improved profitability performance.
Following positive outcomes on several key technology milestones, CGS will be calling a shareholders’ vote to change its name to Pi Securities Public Company Limited. The new company name reflects the company’s commitment to its new and proprietary digital platform, being launched under the brand name “Pi”, and aligns with an overall business direction of making the latest financial products and technologies (‘FinTech’) from around the world easily accessible to the Thai retail market.
The Pi application, set for initial release in March 2022 for Android and iOS devices, is positioned to be the premier personal trading and investment lifestyle solution in Thailand. Pi has been designed from the ground up to match the fast-moving modern lifestyle and offers clients real-time trading in local equities, global equities, derivatives, mutual funds, and bonds all within a single application with an interchangeable wallet system, alongside global financial news, market prices, research and analytics. The company is reorganizing its entire business around Pi to realize its vision of leveling the playing field for retail investors and empowering new generations of traders and wealth builders.
Mr. Tommy revealed that the company has been developing Pi for over a year in collaboration with multi-national technology partners and expects the platform to lead the market in terms of user experience and convenience, with the widest range of products available to trade and invest. Pi welcomes both expert and beginner traders and is paired with a companion website that is also trade-enabled, requiring no download or installation to get started with Pi. Subsequent to initial launch, a comprehensive roadmap of feature updates and ecosystem partnerships is in place to ensure Pi continues to expand its functionality and product range. The application is built on state-of-the-art APIs and cloud infrastructure for maximum scalability and to serve as a gateway into the wider FinTech ecosystem. The Pi brand will further celebrate the personal trading and investment lifestyle with loyalty and social trading features set to be added to the application within 2022.
“Country Group Holdings is proud of how our teams are executing on the Pi vision. The market is ready for a solution that puts its users front and center. Trading and investment are a way of life for many of our clients, and we designed Pi from day one to be a true companion to that lifestyle”, said Mr. Tommy.
The announcement comes shortly after CGH announced the establishment of and baht 500 million capital commitment to Pi Ventures, an early-stage investment vehicle aimed at investing in companies and projects with potential to develop into Pi ecosystem partners. Ventures is expected to accelerate the flow of innovative digital products for distribution through the Pi platform.
Country Group Holdings Public Company Limited (CGH) is an investment holding company listed on the Stock Exchange of Thailand (SET) that makes long term investments across multiple sectors. We focus on the acquisition of controlling stakes in established businesses that can be improved by implementing our management expertise and drawing from the group’s synergistic advantages.
Country Group Securities (CGS) is a diversified securities company and principal subsidiary of CGH. The company has a long history of serving high-net-worth and retail clients in Thailand and navigated multiple technology transitions, having divested of its physical branch network and focused on new asset classes and channels. The company delivered a 36% compound annual growth in revenues and 39% growth in client count in recent years and is ranked number two in market share of TFEX derivatives volume in Thailand, as well as being recognized as the “Best TFEX agent” by the Stock Exchange of Thailand (SET) for the last three years consecutively.
