KUALA LUMPUR: Stockbroker TA Enterprise Bhd
(TAE) is seeking the Securities Commission's consent to withdraw its conditional voluntary offer to take over property arm TA GLOBAL BHD.
"Upon receipt of the SC's prior written consent, the offer shall cease and TAE will be released from any obligation arising from the offer," it said in a filing with Bursa Malaysia today.
TAE wanted to abort the deal it proposed on Feb 12 this year after taking into consideration the adverse impact of the novel coronavirus (Covid-19) pandemic on TA Global's financial performance in financial year ending Dec 31, 2020.
TA Global, in April, announced that it has suspended its hotel operations in Malacca, Thailand, Australia and Canada since March due to the pandemic.
...
