EPF not seeking waiver in banking merger vote

THE Employees Provident Fund (EPF) will not be seeking a waiver from the authorities from the rule prohibiting it from voting in the mega-banking merger involving CIMB Group Holdings Bhd, RHB Capital Bhd (RHB Cap) and Malaysia Building Society Bhd (MBSB), sources say.

At the same time, Aabar Investments PJSC is likely to vote in support of the deal, thereby removing concerns that the deal would not see the light of the day unless it got the vote of the EPF, sources close to the negotiations of the merger revealed.