Malayan Banking
Bhd (RM8.86/share)
May be bidding for
Philippines’ Islamic bank
Malayan Banking Bhd (Maybank) said it is keeping its options
open in bidding for Al Amanah Islamic Investment Bank of the Philippines, the
country’s only Islam-oriented commercial bank, a Philippine’s based newspaper
reported.
Al Amanah Islamic Bank is looking for a strategic partner
through the sale of a 49.0% stake or the entire bank to a foreign entity with
expertise in Islamic banks. Maybank told the Philippine’s based newspaper that
it wanted to expand further in the Asean region while strengthening its hold in
the Asia-Pacific region. It alreadyoperates a commercial bank in the
Philippines. Maybank Islamic Bhd, a member of the Maybank Group, is the largest
Islamic commercial bank in the Asia-Pacific and17th worldwide. It is also into
Islamic insurance or takaful. – StarBiz
DRB-Hicom Bhd
(RM2.63/share)
Team looking into the
mechanics
DRB-Hicom Bhd, the country’s biggest automotive company, has
sent in a five manstrong post-acquisition team to evaluate and study the inner
dealings in Proton Holdings Bhd, said an industry source. It is learnt that the
team is headed by Datuk Lukman Ibrahim, DRB-HICOM’s group chief operating
officer.
Business Times was told that the team which reported for
duty to Proton managing director Datuk Syed Zainal Abidin Syed Mohamed Tahir on
Monday, does not have a management role.
Rather, they are there to understand how the Proton management operates.
Another source from Proton said the team is going through
all the impending deals on the table for Proton to know the rationale behind
Proton management’s train of thought.
In China, Proton is working on two deals, namely a potential
tie-up with China’s Hawtai Motor Group to invest in product development and
vendor sourcing; and an ongoing agreement with Jinhua-based Youngman Automobile
Group. The deal with GM is centred on a proposal by the American company to
take up some 50.0% of Proton’s production facility.
Meanwhile, the emergence of the post-acquisition team on
Monday had led to rumours that Syed Zainal had resigned from the company. The
rumours were later squashed by Proton. –
Business Times
Construction
Sector
Major changes in top
management of Keretapi Tanah Melayu seen
Ahead of any official announcement, speculation is rife that
there will be some major changes in top management at national railway company,
Keretapi Tanah Melayu Bhd (KTMB).
However, according to a source, such speculation may be
premature as MMC Corp Bhd is currently doing its due diligence exercise on KTMB
for the purpose of taking over and turning around the ailing rail operator. As
a result of the due diligence exercise by MMC, KTMB’s earlier planned
restructuring exercise had also been put on hold. On the other hand, the source
said KTMB also needed a really sound turnaround plan which had been long
overdue.
A recent news report stated that current KTMB president Dr
Aminiddin Adnan was likely to be replaced by Land Public Transport Commission
chief operating officer Azahar Ahmad. It was learnt that Aminuddin had yet
received any letter from the Government on that matter.
Another source also confirmed that Mohd Azharuddin Mat Sah,
the vice-president of special projects at the office of Khazanah Nasional Bhd
managing director, might be roped in to turn around KTMB. – StarBiz
Source: AmeSecurities
No comments:
Post a Comment