Apex Equity, Mercury Securities to merge in RM140mil deal

The chief executive of one victim, depositor Saigonbank Berjaya Securities JSC (SBBS) - a unit of Malaysia's Berjaya Corporation Bhd - told Reuters that if the ruling was upheld, she had little hope of recouping her bank's $10 million from the perpetrator, who was sentenced to life imprisonment. "We can't afford to lose the case. This represents 70 percent of our capital. Our business may get suspended," Josephine Yei said in an interview.

KUALA LUMPUR: Apex Equity Holdings Bhd and Mercury Securities Sdn Bhd have entered into a heads of agreement (HOA) to merge their stockbroking operations.

Under the terms of the HOA, Mercury Securities has agreed to transfer its entire business into Apex for  RM140mil.