KUALA LUMPUR: CIMB Group Holdings Bhd, Malaysia's second-biggest bank, on July 24 said its subsidiary will form an equity joint venture with Ant Financial Services Group, the parent of Alipay, to provide mobile wallet and related financial services.
The CIMB unit, Touch 'n Go Sdn Bhd, will be majority shareholder and Ant Financial a minority shareholder, the bank said in a statement filed at the Kuala Lumpur stock exchange.
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