Wednesday, September 7, 2011

RHB Cap perks up

KUALA LUMPUR: Shares of RHB Capital Bhd perked up, rising to a high of RM8.45 in late morning on Wednesday, Sept 5, supported by some local fund buying in line with the firmer markets.

At 11.22am, it was up 14 sen to RM8.39. There were 623,600 shares done at prices ranging from RM8.24 to RM8.45.

Its decision not to buy PT Bank Mestika Dharma could have also brought some relief on concerns about Indonesia's banking rules.

RHB Cap put on hold its application to acquire Bank Mestika pending a review by Indonesia's central bank to impose a limit on single-party ownership in commercial banks there to not more than 50%.

RHB Cap had earlier stated its intention to buy 80% of Bank Mestika for RM1.16b. If RHB Cap aborts its plan to buy Bank Mestika, it will be the second local bank to do so after Affin Holdings.

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