SINGAPORE -Malaysia’s second-richest man Quek Leng Chan is weighing choices for his stake in Hong Leong Financial institution Bhd, together with a merger, two sources with information of the matter mentioned, in a transfer that might set off wider consolidation within the sector.
Quek, 80, can be exploring the potential for decreasing his stake in theMalaysian lender, mentioned the sources who declined to be named as a result of confidential nature of the matter.
Conglomerate Hong Leong Monetary Group Bhd, managed by Quek, holds a 62 p.c stake in Hong Leong Financial institution, the nation’s fourth-largest lender with a market worth of $10 billion, in line with Refinitiv information. Hong Leong Financial institution and Hong Leong Monetary didn’t reply…
Carry on studying: Malaysia’s Hong Leong Financial institution chair weighs choices for stake in financial institution – sources