Securities Commission Malaysia approved ECM Libra Financial Group Berhad.'s sale of its 100% equity interest in Libra Invest Bhd. to Kenanga Investors Bhd.
ECM Libra is selling the entire issued share capital of Libra Invest to the Kenanga Investment Bank Bhd. unit for a total cash consideration of 50.1 million ringgit.
Securities Commission Malaysia approved the transaction, subject to the condition that the change in owner will not adversely affect the soundness of Libra Invest's business or the interest of the clients of Libra Invest.
As of June 3, US$1 was equivalent to 4.18 Malaysian ringgit.