Undisclosed deal: Aabar is restricted from exercising its rights to anything more than 15 of its shareholding of RHB Cap. It is still a mystery to most observers as to how this onerous rule came about.
THE increasing capital calls on local banks and financial holding companies (FHCs) is a natural catalyst for more merger and acquisition (M&A) activities in the sector.
At the same time, it’s no longer fun to own a bank. Increased regulation and capital calls combined with a bleak business outlook should mean that there must be better ways to invest your millions if you were a major shareholder of a bank. Of course, that’s just layman thinking. Some owners of banks know that it’s a privileged place to be and tend to take a longer-term view of things.
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