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AFG unaware of progress on DBS-Temasek talks (2488)

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AFG unaware of progress on DBS-Temasek talks (2488) Empty AFG unaware of progress on DBS-Temasek talks (2488)

Post by hlk Fri 20 Jul 2012, 21:12

KUALA LUMPUR: Alliance Financial Group Bhd (AFG) has not been informed of any progress on the negotiations between Singapore's DBS Bank Ltd and Temasek Holdings for a stake in the bank, said chairman Datuk Oh Chong Peng.
DBS had received the green light from Bank Negara in April to begin negotiations with Duxton Investments Pte Ltd, a unit of Temasek, for the latter's 14.2% equity in AFG.
Alliance Bank Bhd group CEO Sng Seow Wah
also said after a shareholder's meet on Friday that loans growth across
the industry could be weaker this year compared to 2011 due to a
combination of factors.
He added, however, that AFG should be
able to sustain the growth momentum of its loans, based on the bank's
performance so far in the first three months of its financial year that
begins in April.
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