Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on January 7, 2020

KUALA LUMPUR: Vortex Consolidated Bhd confirmed yesterday that it is in talks to acquire a stockbroking firm, but said it has yet to enter into any definitive agreement.

The ACE Market-listed company said this in a filing with Bursa Malaysia after it was reported yesterday that Vortex’s new major shareholder, Eugene Goh, had not denied speculation that the company was in talks to buy one of the last stand-alone stockbroking firms.

“Among the remaining ones are PM Securities Sdn Bhd and SJ Securities Sdn Bhd,” said the report in The Star, which noted that Vortex has RM52.83 million in cash, Goh currently owns 15.5% of shares in Vortex. “The board would like to clarify and confirm that to the best of its knowledge and after making due enquiry with the directors seeking their views on the subject matter of the article, the company is currently in discussion to buy a stockbroking firm but has yet to enter into any definitive agreements,” Vortex said in the filing.

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