SEC OKs change in name of Sia, Tan Caktiong firm

MANILA, Philippines — Brokerage company Tri-State Securities Inc. is now DragonFi Securities Inc., reflecting the change in its owners who now comprise tycoons Tony Tan Caktiong and Edgar “Injap” Sia II.

DragonFi intends to launch its platform by the fourth quarter of the year.

The Securities and Exchange Commission (SEC) has given its green light to Tri-State Securities parent firm BeeDragon Global Corp. to change the corporate name of its wholly owned subsidiary.

BeeDragon Global, a joint venture between Tan Caktiong’s Honeystar Holdings Corp., Sia’s Injap Investments Inc., and the group of Jon Carlo Lim, acquired Tri-State Securities in November last year.

BeeDragon Global is headed by Lim as president and CEO, while Sia serves as chairman and Tan Caktiong as co-chairman. It will be the corporate entity that will house the group’s fintech-related endeavors.

Through DragonFi Securities, the joint venture partners aim to elevate the retail investment space in the country. It also aims to provide everyone with transformational investment platforms that will provide fast, reliable, and secure trade executions to the Philippine equity market.

It also intends to provide exclusive digital financial tools and content that is timely, enriching, and easily digestible that can help its customers improve investment outcomes.

By leveraging best-in-class investment technology, DragonFi will provide the most advanced web and mobile applications that will satisfy both neophyte and discerning investors alike.

Lim, president and CEO of BeeDragon, said the group believes in harnessing the power of technology.

“Currently, less than two percent of the Philippines’ working-age population has a stock brokerage account. By making investing convenient and effortless, we hope to broaden participation in the capital markets, one of the key builders of wealth,” Lim said.

Sia for his part said, “Mr. Tony Tan Caktiong and myself carefully select the specific business and industry we invest in, and we see this venture to have significant long-term growth potential, and as an important strategic addition to the ecosystem that we are building out for the past several years since our first partnership in Mang Inasal, and our succeeding partnership in DoubleDragon.