DragonFi Securities receives PSE approval
The Philippine Stock Exchange (PSE) has approved the trading operations of DragonFi Securities Inc., a brokerage firm backed by businessmen Edgar Sia II and Tony Tan Kaktyong.
The brokerage firm will start its work on March 13.
“Achieving this milestone brings DragonFi one step closer to delivering our best-in-class equity trading platform that will appeal to professional and ambitious investors alike. The coming weeks will be dedicated to beta testing in preparation for a full-scale launch at the end of April,” said DragonFi CEO John Carlo Lim.
“DragonFi is the perfect vehicle to support our shared belief in prioritizing investment in long-term wealth creation,” Sia said.
DragonFi will be owned by BeeDragon Global Corp., a joint venture with Honeystar Holdings Corp., Injap Investments Inc. and the Lim group. BeeDragon will become the legal entity that will house the group’s fintech efforts.
BeeDragon will be managed by Lim as President and CEO and Katherine Ann Lao as Director and Chief Technology Officer.
Honeystar Holdings Corp. is a holding company led by Jollibee Foods Corp. founder Tan Kaktyong, while Injap Investments is a holding company led by founder Mang Inasal and MerryMart chairman Sia.
Both Honeystar and Injap Investments are major shareholders of the listed company DoubleDragon Corporation.
“Tony Tan Kaktyong and I carefully select the specific business and industry we are investing in, and we see that this venture has significant long-term growth potential and is an important strategic addition to the ecosystem we have been building over the past few years. since our first partnership with Mang Inasal in 2010 and our successful partnership with DoubleDragon in 2012,” said Sia, who is also Chairman of BeeDragon.
“Long term, we also see a FinTech space to create a synergistic gel that will enhance and benefit various other business units in our ecosystem.”
Lim, who is also the President and CEO of BeeDragon, received an MBA in Finance and Accounting from the J. Booth of the University of Chicago and has over 20 years of experience in the financial markets.
Meanwhile, Lao earned her Master of Engineering degree in Computer Science from Cornell University. She has worked in Equity Technology in New York for Bank of America and Citigroup NA.
“Currently, less than 2 percent of the working population in the Philippines have a brokerage account. By making investing convenient and easy, we hope to increase participation in the capital markets, one of the key sources of wealth,” said Lim.
“We are committed to democratizing personal finance in a meaningful way using best-in-class investment technology. We intend to provide wealth-building tools to ensure that economic prosperity spreads to more Filipinos.”