CCB acquires banking license in Malaysia
State-owned China Construction Bank acquired a commercial banking license from theMalaysianMinistry of Finance, the country’s central bank Bank, NegaraMalaysia, said in a statement on Tuesday. The newly-established bank, called China Construction Bank (Malaysia) Berhad, or CCBMalaysia, will be operated as a wholly-owned subsidiary of CCB Corporation Ltd, said the statement. The granting of the license was based on CCB’s prudential strength and ability to bring in propositions that were in the best interests ofMalaysia, the central bank said. were 35,000 fewer work positions in the oil sector, indicating at least 5,000 more job cuts were made or announced in the past six months.