CIMB Group, which recently bought some of The Royal Bank of Scotland's (RBS) operations in Asia, says that the Indian operations will now be excluded from the deal. RBS was excluding India due to 'an unexpected legal issue' that arose in connection with the sale, CIMB said in a statement yesterday. The Indian operations comprise cash equities, equity capital markets and merger and acquisition corporate finance businesses. Despite the setback, CIMB said it remained committed to having an Indian component to its Asia-Pacific investment banking platform. CIMB in April agreed to buy most of RBS' cash equities and associated investment banking businesses in the Asia Pacific, including India at a cost of STG173.9mil (RM849.4mil). Without the India portion, the total cost has now come down to around STG160.0mil (RM781.0mil). ' Business Times

KKB Engineering Bhd has received a letter of intent for the supply of steel pipe piles from KACC-JAKS JV (KJJV) worth RM28.0mil, once a formal letter of award is issued upon finalisation of its appointment by KJJV. The job is scheduled to commence within the third quarter (3Q) this year, with supply to be completed in 1Q13. ' The Edge

Source: AmeSecurities