The end of the Daim era

Change of ownership: Alliance Bank’s headquarters in Kuala Lumpur. The change of ownership of Langkah Bahagia marks the end of the era of Daim and his interest in banking in Malaysia.

THE recent changes at the shareholding in Langkah Bahagia Sdn Bhd, the single largest shareholder in Alliance Financial Group Bhd (AFG), marks the end of the Tun Daim Zainuddin era in the local banking scene.

Three Malaysians who are seen as friendly to Temasek Holdings Pte Ltd, the investment arm of Singapore, acquired Langkah Bahagia from associates of Daim.