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Maybank ready for S'pore incorporated ops (1155)
by hlk Fri 29 Jun 2012, 18:26
Malaysia's top lender Maybank is prepared to locally incorporate its
retail operations in Singapore if the city state's government requires
it, a top company official said on Friday.
Chief Executive
Abdul Wahid Omar said Maybank was waiting for more clarity on the new
rules announced by Deputy Prime Minister Tharman Shanmugaratnam on
Thursday in a speech to bankers attending an industry dinner.
Shanmugaratnam said foreign banks with a large share of deposits in the
city-state will be required to locally incorporate their retail
operations, a move that will force lenders like Maybank to commit
capital there. -- Reuters
retail operations in Singapore if the city state's government requires
it, a top company official said on Friday.
Chief Executive
Abdul Wahid Omar said Maybank was waiting for more clarity on the new
rules announced by Deputy Prime Minister Tharman Shanmugaratnam on
Thursday in a speech to bankers attending an industry dinner.
Shanmugaratnam said foreign banks with a large share of deposits in the
city-state will be required to locally incorporate their retail
operations, a move that will force lenders like Maybank to commit
capital there. -- Reuters
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