RUMOURS that Singapore state investment arm Temasek Holdings Pte Ltd is looking to sell its stake in Malaysia's Alliance Financial Group Bhd (AFG) have begun to make its rounds.
While Temasek seems to be keeping its cards close to its chest, investment bankers said a possible divestment in AFG might not be far-fetched given its recent divestment in two of China's biggest banks Bank of China and China Construction Bank. And the name that keeps coming to the forefront as a potential buyer of AFG is Singapore's biggest lender, DBS Group Holdings Ltd, of which Temasek owns 27.17% .
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