The DBS acquisition plans are faced by the Alliance Bank Malaysia Group

DBS Group has faced a large share in Alliant Bank Malaysia delays, due primarily due to the lack of regulatory approval, Bloomberg said, noting sources familiar with developments.

DBS, one of the best banks in Singapore, and the vertical topic, the main shareholder at Alliace Bank, submitted separate requests to the central bank in Malaysia about eight months ago.

However, they have not yet received any response from the organizer, the sources said.

Malaysian regulations require approval before starting any discussions.

Getting a stake in Alliance Bank expands the presence of DBS in Malaysia, a market where other Singaporean banks have already been created such as the Chinese Banking Company and the bank abroad.

The deal is also in line with DBS ‘ Strategy to prepare it Retail banking is in the Southeast Asian market.

In January, the publication highlighted this vertical issue, a Malaysian holding company with the support of the state investor in Singapore, Temasek Holdings, considering selling its 29 % share at the Alliance Bank to DBS.

If the transaction continues, the DBS may aim to increase its coalition’s share to up to 49 % through a voluntary partial public offer, as indicated by the sources.

They added that the current regulations in Malaysia restrict foreign ownership of commercial banks to 30 %, but there were discussions on possible relaxation in this cover across certain sectors.

One of the sources noticed that if the DBS fails to obtain approval to obtain up to 49 % of the Malaysian bank, it is unlikely to provide the deal.

The sources added that the discussions are still under progress, and final decisions have not been reached.

DBS representatives and supporters of the vertical theme chose not to comment, while Alliance Bank stated that he was not aware of the situation.

Negara Malaysia, the country’s central bank, refrained from commenting on individual requests, acquisition of shares or withdrawing them in its organized entities, citing the reasons for politics.

The Central Bank explained that the requests related to the contribution of licensed banks, including those in foreign entities, are evaluated in accordance with the relevant provisions under the 2013 Financial Services Law and the Islamic Financial Services Law for the year 2013.

The DBS acquisition plans for Alliance Bank Malaysia Face “were originally created and published Banker Retail InternationalThe brand owned by Globaldata.

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