THE excitement over unconfirmed reports that Singapore's state investment arm Temasek Holdings is set to acquire a stake in Alliance Bank Malaysia Bhd
from Malaysian Plantations Bhd appears to have spilled over to PacificMas Bhd, which is in the midst of merging with a Singapore partner.
PacificMas, which is 45%-owned by Singapore's OCBC group and United Malacca Bhd (also part of the OCBC group), has been in talks for over a year to acquire Great Eastern Life Assurance (M) Bhd and Overseas Assurance Bhd, also partly owned by the OCBC group.
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