15.07.2014 - CIMB Merger Plans Puzzling
CIMBís plans to merge with RHB Capital and Malaysia Building Society to create Malaysiaís biggest bank by asset size, is a puzzling move. CIMB and RHB had previously ditched plans to merge because their businesses overlap. CIMBís chief executive Datuk Seri Nazir Razak is expected to step down to become the chairman of the bank. He will also be joining the board of Khazanah, Malaysiaís biggest sovereign wealth fund. Khazanah has 25 per cent of CIMB, and according to speculation would have a 20 per cent stake in the merged CIMB, RHB MBSB...............................................Full Article: Source
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