Monday, 8 July 2013

TA Ent denies unit's sale news

TA Enterprise, which owns one of the country's largest stockbroking houses, has dismissed reports that it is selling its stockbroking arm. The news comes just a year after its managing director-cum-chief executive officer Datin Alicia Tiah reportedly said the company welcomes joint ventures, but was in no hurry to jump onto the consolidation bandwagon. Tiah denied that TA Enterprise is selling its stockbroking firm. "That is stale news ... We have already clarified to Bursa Malaysia that the news reported by a news portal was not true," she said.

TA Securities is one out of six 1+1 brokers in the country that is non-bank backed. A 1+1 brokerage can open branches, provide electronic access facilities and undertake structured products offerings. Despite not being bank backed, TA Enterprise has a large retail client base, thereby fuelling speculation every now and then that the company is a potential takeover target. (BT)

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