CIMB Group Holdings
Bhd (RM7.86/share)
RBS deal to exclude
Indian ops
CIMB Group, which recently bought some of The Royal Bank of
Scotland’s (RBS) operations in Asia, says that the Indian operations will now
be excluded from the deal. RBS was excluding India due to “an unexpected legal
issue” that arose in connection with the sale, CIMB said in a statement
yesterday. The Indian operations comprise cash equities, equity capital markets
and merger and acquisition corporate finance businesses. Despite the setback,
CIMB said it remained committed to having an Indian component to its
Asia-Pacific investment banking platform. CIMB in April agreed to buy most of RBS’
cash equities and associated investment banking businesses in the Asia Pacific,
including India at a cost of STG173.9mil (RM849.4mil). Without the India
portion, the total cost has now come down to around STG160.0mil (RM781.0mil). –
Business Times
KKB Engineering Bhd
(RM1.53/share)
Gets RM28mil contract
KKB Engineering Bhd has received a letter of intent for the
supply of steel pipe piles from KACC-JAKS JV (KJJV) worth RM28.0mil, once a
formal letter of award is issued upon finalisation of its appointment by KJJV. The
job is scheduled to commence within the third quarter (3Q) this year, with
supply to be completed in 1Q13. – The Edge
Source: AmeSecurities
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