Keep the high-flyers in banks

By JAGDEV SINGH SIDHU

THE heirs of the late Public Bank Bhd founder Tan Sri Teh Hong Piow are selling down his estate’s stake to 10% over the next five years, from 23.4% currently. But it’s not necessarily because they want to.

They have done so to comply with the Financial Services Act (FSA) 2013, highlighting a concern that the legislation may now have outlived its usefulness in certain aspects.

Save 30% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 9.73/month

Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 8.63/month

Billed as RM 103.60 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
PublicBank , FinancialServicesAct , BankingRegulation , EntrepreneurshipLegacy , WealthTransfer , BankOwnership , CorporateGovernance , BankingIndustry

Next In Insight
What performance truly means
Time is money, really
Addressing FBM KLCI’s weaknesses
Rise of the machines
Save, invest and outpace inflation
Corruption fight must go deeper
US inflation – it’s stronger than it looks
China’s new growth strategy needs a reality check
Talent trumps territory in defining AI’s future
Will the Fed be allowed to do its job?

Trending in Business

Others Also Read

Load more

Copyright © 1995- Star Media Group Berhad [197101000523 (10894-D)]

Best viewed on Chrome browsers.