Kenanga unlikely to pay a premium for Interpac’s stockbroking business

It will result in one of the largest stockbrokers in Malaysia

FOLLOWING the change in government, business deals seem to have come to a halt, as the corporate world comes to terms with the positive changes taking place. But that has not stopped Kenanga Investment Bank Bhd from proposing to acquire stock broker Inter-Pacific Securities Sdn Bhd (Interpac).

In fact, Kenanga’s filing to the stock exchange early this week in which it said it had initiated discussions to acquire Interpac is the first large corporate market deal to be announced under the new Pakatan Harapan government that recently came into power.