TA Enterprise Bhd today has clarified that it did not take over Kota Bharu Securities (KB Securities) but bought over the assets and the stockbroking licence of KB Securities through its wholly-owned subsidiary, TA Securities Holdings Bhd.
Thereafter, the company established KB Securities’ business as a branch of TA Securities Holdings Bhd in Kota Baru, TA Enterprise’s executive director Philip Chang said.
With the sale of its dealer’s licence, KB Securities had changed its name and would be retained by its existing owner, Chang said when clarifying a Bernama report published yesterday.
He said KB Securities did not change its name to TA Securities Sdn Bhd as reported but to KB Management Services Sdn Bhd on Oct 11.
He also said the correct name of TA Enterprise’s subsidiary should be TA Securities Holdings Bhd (formerly Botly Securities Sdn Bhd) and not TA Securities Sdn Bhd as reported.
Chang said TA Enterprise does not have any branch called TA Securites Sdn Bhd, Botly Securities Sdn Bhd or Borneo Securities Sdn Bhd as reported.
He said the stockbroking licences and business assets of TA Securities Bhd (in Kuala Lumpur), Borneo Securities Sdn Bhd (in Sibu) and KB Securities Sdn Bhd (in Kota Baru) respectively were acquired by Botly Securities Sdn Bhd, which is now known as TA Securities Holdings Bhd.
With the acquisition of the licences and businesses of the various stockbroking companies, TA Securities Holdings Bhd then established these businesses as its branches in Ipoh, Sibu and Kota Baru respectively, Chang said. – Bernama
Did you find this article insightful?