PETALING JAYA: The implications of the newly-passed Financial Services Act (FSA) is still being hotly debated. CIMB Research says it does not see banking tycoons having to sell down their stakes as a result of the FSA.
A media report speculated last week that individuals owning more than 10% in financial institutions, including Tan Sri Azman Hashim, Tan Sri Quek Leng Chan and Tan Sri Teh Hong Piow, were required to sell down their stakes to 10% or below.
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