RHB Bank: No merger plans between RHB Cap, MBSB as yet

by **Cals** Wed 12 Jun 2013, 17:37

Published: Wednesday June 12, 2013 MYT 5:18:00 PM
RHB Bank: No merger plans between RHB Cap, MBSB as yet
By Intan Farhana Zainul

KUALA LUMPUR: There is still no merger plans between [url=http://archives.thestar.com.my/search/?q=RHB Capital Bhd (RHBCap)]RHB Capital Bhd (RHBCap)[/url] and [url=http://archives.thestar.com.my/search/?q=Malaysia Building Society Bhd (MBSB)]Malaysia Building Society Bhd (MBSB)[/url], said [url=http://archives.thestar.com.my/search/?q=RHB Bank Bhd]RHB Bank Bhd[/url] [url=http://archives.thestar.com.my/search/?q=Johari Abdul Muid]managing director Johari Abdul Muid[/url].
"On the merger plans, it was what the experts are saying. If there is anything that we need to announce, we will make the announcement at the right time, but so far there is no discussion on it," he said on Wednesday.
Johari added that the bank is always on a lookout for acquisition.
"If MBSB is one of them we will look at it, but as for now there is nothing," he said.
Speaking to reporters after the launch of RHB Signature Credit Card, Johari said RHBCap was still pursuing its effort to acquire stakes in [url=http://archives.thestar.com.my/search/?q=PT Bank Mestika Dharma]PT Bank Mestika Dharma[/url].
"At the moment, we are facing regulatory changes in Indonesia, but it is something that we are pursuing," he said, citing [url=http://archives.thestar.com.my/search/?q=CIMB Group]CIMB Group[/url]'s success in Indonesia.
It was reported on May 30 that the [url=http://archives.thestar.com.my/search/?q=Employees Provident Fund (EPF)]Employees Provident Fund (EPF)[/url]would let RHBCap and MBSB to decide on their merger plan.
The EPF owns 44.84% of RHBCap and 65.5% in MBSB.
"We will wait for the two companies to decide what they want to do and there will be a few announcements to be made," EPF chief executive officer, [url=http://archives.thestar.com.my/search/?q=Datuk Shahril Ridza Ridzuan]Datuk Shahril Ridza Ridzuan[/url] was quoted saying.