Wednesday, November 16, 2011

Maybank share price up on Laos, Thailand plans

KUALA LUMPUR (Nov 16): Shares of MALAYAN BANKING BHD [] climbed on Wednesday on a news report that it was in talks for a Laos bank licence while it would use its Singapore-based brokerage Kim Eng Holdings Ltd to open a Thai bank.

At 4.03pm, Maybank was up 13 sen to RM8.40. There were 4.47 million shares done.

The FBM KLCI fell 2.48 points to 1,474.74. There were 1.73 billion shares done valued at RM1.15 billion. Losers beat gainers 529 to 263 while 243 stocks were unchanged.

Dow Jones news wire reported that Maybank would focus on Southeast Asia opportunities. The report also said Maybank was in talks for a bank licence in Laos while it would also use its unit Kim Eng to open a Thai bank.

In January, 2011 Mayabnk acquired a strategic 44.6% stake in Kim Eng Holdings Ltd at S$3.10 per share, amounting to S$798 million (RM1.9 billion) with a view to take over the Singapore'based broking firm.

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