PETALING JAYA: Kenanga Investment Bank Bhd
’s (Kenanga IB) proposed RM875.1mil merger with ECM Libra Financial Group Bhd’s investment bank will have no immediate impact on the former’s ratings, according to RAM Ratings.
The ratings agency said in a statement that post-acquisition, Kenanga IB’s overall risk-weighted capital-adequacy ratio was estimated to be lowered to about 24% from 38.6% as at end-March, which was still adequate.
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