Malaysian merger plan runs into rough­weather

China Daily (Canada) - - FRONT PAGE -

A$20 bil­lion merger to cre­ateMalaysia’s big­gest bank is about to col­lapse after CIMBHold­ings andRHBCap­i­tal failed to agree on newdeal terms, peo­ple fa­mil­iar with the mat­ter said on Tues­day. The merger of CIMB, RHBandMalaysian Build­ing So­ci­ety Bhd would have formed a bank­ing group with as­sets of about $190 bil­lion, eclips­ingMalayan Bank­ing Bhd (May­bank) and mak­ing it South­east Asia’s fourth-big­gest bank. The State­backed deal was part ofMalaysia’s am­bi­tious plan to pro­mote its firms as re­gional cham­pi­ons.

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