Catching the missed boat
Article Abstract:
Domestic problems prevent Malaysian banks from undertaking regional expansion. One of them is the overabundace of banks in the country which is an offshoot of the previous phenomenal five-year economic growth which required the opening of more lending institutions to serve local needs. By Dec 31, 1990, there were a total of 23 local commercial banks, 12 merchant banks, 16 incorporated foreign banks and 44 domestic financecompanies in the country. The priority now of the government is to pare down the number of banks. To achieve this purpose, small and big banks are being allowed to combine their operations.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Hong Leong's coup
Article Abstract:
Hong Leong Group has secured regulatory approval to acquire MUI Bank and Ban Hin Lee Bank.Analysts indicate that the permission to acquire the banks is meant to repay business favors performed by Hong Leong owner Quek Leng Chan. Quek had been instrumental in financing the management buyout of the New Straits Times publishing group and Sistem Televisyen Malaysia from Renong, a company linked to the ruling United Malays National Organization.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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