Value Investor Research
ECM: Banking: Indonesia's withdrawal of ownership ruling to benefit Malaysian banks
value_investor
Publish date: Thu, 16 Feb 2012, 11:30 PM
The move by Indonesia to drop a controversial policy that would limit ownership of its banks is good news for Malaysian banking groups with a position there, but the markets reaction has been muted. Malaysian Banking Bhd (Maybank) (MAY MK, Hold, TP: RM7.80) and CIMB Group Holdings Bhd (CIMB MK, Hold, TP: RM7.00) who stand to lose if Indonesia went ahead with the
ruling, were unchanged at the close yesterday. Maybank added one sen to the RM8.53, while CIMB lost one sen to RM7.30. Maybank has a 95% stake in Bank international Indonesia (BII) and CIMB a 97% stake in PT Bank CIMB Niaga TK. (Starbiz)
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