Apex Mercury inks RM140mil merger deal

Scomi Group Bhd surprised investors when it proposed to revise its current issued share capital reduction from RM224.96mil to RM3mil from the earlier RM40mil.

KUALA LUMPUR: JF Apex Securities Bhd (JF Apex) and Mercury Securities Sdn Bhd (Mercury) today entered into an agreement to merge their stockbroking operations.

Apex Equity Holdings Bhd (Apex), the parent company of JF Apex, said Mercury had agreed to transfer its entire business comprising stockbroking and corporate advisory, together with the requisite business assets and business liabilities, into JF Apex for RM140mil.