CCB ac­quires bank­ing li­cense in Malaysia

China Daily (Canada) - - BUSINESS -

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.

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