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Commerce International Merchant Bankers Bhd (CIMB) announced yesterday that it has been unable to conclude a RM400mil deal to buy Botly Securities Sdn Bhd and several other stockbroking companies from TA Enterprise Bhd (TAE) because of inconsistency between issues brought up by TAE and the terms and conditions spelt out in their memorandum of agreement (MoA).
CIMB Bhd's share price lost ground Wednesday following news that the investment banking group had not been able to conclude its proposed RM400mil deal to acquire the stockbroking business of TA Enterprise Bhd (TAE).
TA Enterprise Bhd (TAE) has asserted that the issues it raised and discussed in the failed negotiations to sell its stockbroking subsidiaries to CIMB Bhd were 'consistent with the terms of the Memorandum of Agreement (MoA) dated Feb 13, 2004.'
Bekko or tortoise shell makes pretty jewellery and ornaments. When polished to a high shine, the mottled hues of browns and beiges on the shell come alive and lend a special allure to the crafted item, be it a brooch, comb, hairpin or spectacle frame.