KUALA LUMPUR: TA Enterprise Bhd
(TAE) said the Securities Commission has rejected its application to abort its voluntary offer to take over TA GLOBAL BHD (TAG).
TAE on May 6 has submitted an application to ask the SC for permission to withdraw the offer made on Feb 12.
The stockbroker cited the adverse impact of the Covid-19 pandemic to TAG’s business as the reason for making the application.
"On behalf of the board, TA Securities wishes to announce that the SC had, vide its letter dated June 1, resolved to decline the application for the withdrawal after having considered the justifications provided on a holistic basis," it said today.
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