Cracks in CIMB, RHB, MBSB merger plan; EPF may not be able to vote

Sources said there was uncertainty as to whether MBSB shareholders would approve the merger, considering that its largest shareholder

PETALING JAYA: The proposed mega-banking merger of the three financial institutions in the country could be called off because Malaysia Building Society Bhd (MBSB) may not be part of the deal, according to sources.

Sources said there was uncertainty as to whether MBSB shareholders would approve the merger, considering that its largest shareholder – the Employees Provident Fund (EPF) which owns 64.6% of MBSB – would not be able to vote on the deal.