The acquisition of Jupiter Securities completes the deal. According to Olympia Industries’ annual report, Jupiter Securities is a stockbroking company providing online Internet broking, retail client and institutional client services. In June 2017, CIMB and China Galaxy signed a SPA to formalise their strategic partnership across CIMB’s stockbroking business. This part of the deal excludes the Malaysian stockbroking business. We understand that the cost of CIMB’s stockbroking business is estimated at RM600 million per annum; CSI is effectively loss-making.

Source: The Edge Markets September 08, 2017 02:03 UTC