The Business Times
business-time-50
SUBSCRIBERS

ANZ nears deal to sell Malaysian banking stake to pension fund: sources

google-preferred-sourceAdd BT as a preferred source
Published Thu, Jul 13, 2017 · 09:50 PM

DeeperDive is a beta AI feature. Refer to full articles for the facts.

Abu Dhabi

AUSTRALIA and New Zealand Banking Group is near a deal to sell its Malaysian banking stake to a pension fund and exit the South-east Asian nation, sources familiar with the matter said, in a transaction that could be worth around US$900 million.

ANZ has been pursuing a sale of its 24 per cent stake in its Malaysian affiliate AMMB Holdings (AmBank) since early last year as part of a strategy to divest minority stakes in Asia and as AmBank was dragged into a wide-ranging corruption scandal at state fund 1Malaysia Development Bhd (1MDB).

Share with us your feedback on BT's products and services

Feedback

TRENDING NOW

DBS filed the bankruptcy application after serving statutory demands to the directors of Autobahn Rent A Car in December 2025.

Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS

Loyang Valley sits on a 840,648 sq ft plot of land, which now houses 362 apartments.

Loyang Valley sold for S$880 million to SingHaiyi-led consortium

The price tag for the Nassim Road GCB works out to nearly S$4,550 per square foot.

Nassim Road bungalow changing hands for S$64.9m 

Property-based taxes may have limited room to run – and pushing them further risks hitting the wrong people, observers say.

In taxing wealth, how far can Singapore push property owners?

Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
View More