Malayan Banking Bhd (Maybank) said it is keeping its optionsopen in bidding for Al Amanah Islamic Investment Bank of the Philippines, thecountry's only Islam-oriented commercial bank, a Philippine's based newspaperreported.

Al Amanah Islamic Bank is looking for a strategic partnerthrough the sale of a 49.0% stake or the entire bank to a foreign entity withexpertise in Islamic banks. Maybank told the Philippine's based newspaper thatit wanted to expand further in the Asean region while strengthening its hold inthe Asia-Pacific region. It alreadyoperates a commercial bank in thePhilippines. Maybank Islamic Bhd, a member of the Maybank Group, is the largestIslamic commercial bank in the Asia-Pacific and17th worldwide. It is also intoIslamic insurance or takaful. ' StarBiz

DRB-Hicom Bhd, the country's biggest automotive company, hassent in a five manstrong post-acquisition team to evaluate and study the innerdealings in Proton Holdings Bhd, said an industry source. It is learnt that theteam is headed by Datuk Lukman Ibrahim, DRB-HICOM's group chief operatingofficer.

Business Times was told that the team which reported forduty to Proton managing director Datuk Syed Zainal Abidin Syed Mohamed Tahir onMonday, does not have a management role. Rather, they are there to understand how the Proton management operates.

Another source from Proton said the team is going throughall the impending deals on the table for Proton to know the rationale behindProton management's train of thought.

In China, Proton is working on two deals, namely a potentialtie-up with China's Hawtai Motor Group to invest in product development andvendor sourcing; and an ongoing agreement with Jinhua-based Youngman AutomobileGroup. The deal with GM is centred on a proposal by the American company totake up some 50.0% of Proton's production facility.

Meanwhile, the emergence of the post-acquisition team onMonday had led to rumours that Syed Zainal had resigned from the company. Therumours were later squashed by Proton.  'Business Times

Ahead of any official announcement, speculation is rife thatthere will be some major changes in top management at national railway company,Keretapi Tanah Melayu Bhd (KTMB).

However, according to a source, such speculation may bepremature as MMC Corp Bhd is currently doing its due diligence exercise on KTMBfor the purpose of taking over and turning around the ailing rail operator. Asa result of the due diligence exercise by MMC, KTMB's earlier plannedrestructuring exercise had also been put on hold. On the other hand, the sourcesaid KTMB also needed a really sound turnaround plan which had been longoverdue.

A recent news report stated that current KTMB president DrAminiddin Adnan was likely to be replaced by Land Public Transport Commissionchief operating officer Azahar Ahmad. It was learnt that Aminuddin had yetreceived any letter from the Government on that matter.

Another source also confirmed that Mohd Azharuddin Mat Sah,the vice-president of special projects at the office of Khazanah Nasional Bhdmanaging director, might be roped in to turn around KTMB. ' StarBiz

Source: AmeSecurities