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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Maybank plans to make RHB takeover proposal by end of June

Posted on 14 June 2011

Malayan Banking Bhd. (MAY), Malaysia’s biggest lender, will present a proposal to acquire rival RHB Capital Bhd. by the end of the month, its chairman said.

“An acquisition would give us scale,” Malayan Banking Chairman Megat Zaharuddin Megat Mohd Nor told reporters in Kuala Lumpur today. “You need scale to compete. Not only the incumbent Southeast Asian players are trying to grow their business here, we have global players from other parts of the world that are focusing in this part of the world.”………………………………………Full Article: Source

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