March 2006
Malaysian M&A is anything but easy
A hostile bid in the Malaysian banking market is almost unheard of. But CIMB's pursuit of Southern Bank has provoked more than just headlines, and now almost every major banking group in the country is in play.
OF MALAYSIA’S TOP 10 banking groups, only one, the biggest, is out of the M&A frame. Four banks are involved in negotiations, and there is speculation of varying credibility about the remaining five. A smaller bank, Bank Islam, is being bid for by Dubai Financial, a subsidiary of Dubai Investment Group.
At the centre of the action is Southern Bank, Malaysia’s ninth-largest banking group, which for more than three months has been pursued by CIMB, part of the Bumiputra-Commerce Group, Malaysia’s second largest. The deal’s twists and turns have been front-page news, with interest stoked by the involvement of prominent figures that include the sultan of Malaysia’s Selangor state; Nazir Razak, CIMB’s CEO; and Chua Ma Yu, one of the country’s most prominent investors.
The deal...
You must be a subscriber to access this archived content.
If your subscription includes access to the archive, please log in now to view.
To gain access to this content visit the subscription page or call our hotline on +44 (0)207 779 8999.
Subscribe online now and save up to 30% on your subscription.
If you are a trialist or subscriber, please enter your username and password at the top right-hand side of euromoney.com
Subscribers to Euromoney benefit from:
- 12 months access in print and online - on euromoney.com, read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 1996
- More than 30 specialist research guides free
- The results of Euromoney’s polls and surveys
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Click here to subscribe