SC approves ECM Libra’s disposal

In a statement issued yesterday, the SC said the Cabinet Special Committee on Anti-Corruption (JKKMAR) had approved its recommendation to require listed companies to put in place anti-corruption measures and a framework to promote the effective discharge of directors

PETALING JAYA: The Securities Commission (SC) has approved ECM Libra Financial Group Bhd’s proposal to dispose of its entire 100% equity interest in Libra Invest Bhd.

According to a statement to Bursa Malaysia, the deal which would see it selling this stake for a provisional cash consideration of RM50.07mil had been approved on condition that the proposed change of shareholder will not adversely affect the soundness of Libra Invest’s business.