Hong Leong Bank chairman weighs stake options

Quek Leng Chan HLIB

SINGAPORE: Malaysia’s second-richest man Tan Sri Quek Leng Chan (pic) is weighing options for his stake in Hong Leong Bank Bhd, including a merger, two sources with knowledge of the matter said, in a move that could trigger wider consolidation in the sector.

Quek, 80, is also exploring the possibility of reducing his stake in the Malaysian lender, said the sources who declined to be named due to the confidential nature of the matter.