Malaysia's 2nd largest bank guns for pole position.
CIMB Group Holdings Bhd is on course for a February swoop of Affin Bank Bhd, the smallest anchor bank in Malaysia.
If it goes through, the deal will be the largest takeover in 12 months in the Asian finance, broking and banking industry. It will also propel the country's second largest lender into pole position for the first time. The deal would dwarf the US$1.4 billion, the country's top lender, Maybank intends to splash out for Singaporean brokerage - Kim Eng Holdings Ltd.
Affin's largest shareholders are Lembaga Tabung Haji (35.66 per cent), Hong Kong's Bank of East Asia Ltd (23.52 per cent) and Boustead Holdings Bhd (20.69 per cent), while CIMB's largest stakeholders are Khazanah Nasional Bhd (28.61 per cent) and EPF (13.71 per cent).