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Article: Malaysia's second-largest banking group outlines strategy to become regional giant
- Article from:
- AP Worldstream
- Article date:
- June 6, 2005
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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EILEEN NG, Associated Press Writer
AP Worldstream
06-06-2005
Dateline: KUALA LUMPUR, Malaysia
Malaysia's second-largest banking group on Monday announced a major restructuring to consolidate its assets _ including an Indonesian bank and a stockbroking firm in Singapore _ as part of an ambitious plan to become a regional banking giant.
The revamp of Commerce Asset-Holding Bhd. will create an enlarged group with assets of around 100 billion ringgit ($26.3 billion; euro21 billion). The move is driven by the need to venture abroad to remain competitive as the domestic financial services market gradually liberalizes, officials said.
"We want to be Malaysia's financial services regional champion," ...
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