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NewsUnder selling pressure RHB shares close lower
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Under selling pressure RHB shares close lower
by hlk Fri 30 Mar 2012, 08:25
PETALING JAYA: The share price of RHB Capital Bhd (RHBCap) came under some selling pressure, closing 14 sen lower at RM7.76 with 1.13 million shares sold.
According to earlier reports, RHBCap and OSK Holdings Bhd were still negotiating the terms and conditions of the acquisition of OSK Investment Bank Bhd by RHBCap.
Both were reported to be waiting for Bank Negara’s approval after submitting their applications on Jan 11 to the central bank for the proposed deal, expected to be completed by April.
The local banking industry has been consolidating in recent years with even several cross-border merger and acquisition deals. The merger of the investment banking operations of OSK Holdings with RHBCap would create the largest securities firm in the country as well the fourth largest financial services group by assets.
While a number of analysts remained bullish on the outlook for banking, there has been some concern after the latest indicators showed that loan applications, approvals and disbursement activities had began the year on a slow note.
According to earlier reports, RHBCap and OSK Holdings Bhd were still negotiating the terms and conditions of the acquisition of OSK Investment Bank Bhd by RHBCap.
Both were reported to be waiting for Bank Negara’s approval after submitting their applications on Jan 11 to the central bank for the proposed deal, expected to be completed by April.
The local banking industry has been consolidating in recent years with even several cross-border merger and acquisition deals. The merger of the investment banking operations of OSK Holdings with RHBCap would create the largest securities firm in the country as well the fourth largest financial services group by assets.
While a number of analysts remained bullish on the outlook for banking, there has been some concern after the latest indicators showed that loan applications, approvals and disbursement activities had began the year on a slow note.
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