Thursday, January 6, 2011

Maybank plans RM4.2b bid for Kim Eng, reports say

KUALA LUMPUR: MALAYAN BANKING BHD [] is planning to make a RM4.2 billion general offer for Singapore-based brokering firm Kim Eng Holdings Bhd, according to wire reports citing unnamed sources.

Maybank had on Thursday, Jan 6 morning requested for a trading halt in its securities from 9am to 5pm 'pending an announcement of a material corporate proposal'.

Meanwhile, Kim Eng had also requested for a trading suspension in the securities on the Singapore Exchange this morning.

Kim Eng said in a filing to the Singapore bourse the suspension from 9am on Thursday was 'pending release of announcement'.

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