ECM Libra to return its Labuan IB licence to the authorities

KUALA LUMPUR: ECM Libra Financial Group Bhd's wholly-owned subsidiary, ECM Libra Investment Bank Ltd, has planned to surrender its Labuan investment banking (IB) licence to the authorities.

In a filing to Bursa Malaysia, ECM Libra Financial Group said ECM Libra Investment Bank has obtained approval from the Labuan Financial Services Authority for the surrender of the licence, effective on May 8 this year.