A deal for the Alliance Bank stake is unlikely to proceed if DBS cannot get a green light to buy as much as 49% of the Malaysian lender. — Reuters
KUALA LUMPUR: DBS Group Holdings Ltd’s plan to buy a stake in Alliance Bank Malaysia Bhd
has stalled as Singapore’s biggest bank has yet to get regulatory approval to commence talks, according to people with knowledge of the matter.
DBS and Alliance’s largest shareholder Vertical Theme Sdn Bhd submitted separate applications to Malaysia’s central bank about eight months ago but haven’t heard back from the regulator, said the people, asking not to be identified because the process is private.
