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Grab eyes Singapore online banking licence

SINGAPORE: Grab, South-East Asia’s most valuable start-up, is exploring a move into Singapore banking as regulators in the city-state consider allowing online-only banks, sources said.

India set to overhaul corporate governance

NEW DELHI: Narendra Modi, who recently won a second term as India’s prime minister, is looking to overhaul the nation’s corporate governance system that allowed a string of frauds to mar his first stint in office.

‘Sexy access’ lures younger bankers to family office jobs

NEW YORK: Family offices are on the hunt for talent. Yet attracting ­financial hotshots to C-level positions at wealthy families’ investment offices is tricky work, mostly because not everyone is prepared for the culture change.

TM appoints new director

PETALING JAYA: Telekom Malaysia Bhd (TM) has appointed Datuk Ibrahim Marsidi as its independent and non-executive director.In a filing with Bursa Malaysia, the company said Ibrahim, 66, began his career with Malayan Banking Bhd in 1979 as a sub-accountant.

Ibrahim Marsidi(filepic) is Telekom's new independent and non-executive director.

Britain may get another foreign central bank chief

LONDON: Raghuram Rajan has delivered some uncomfortable economic truths in a career spanning the International Monetary Fund (IMF) and powerful positions in his native India. The question is whether Brexit Britain is ready to hear them from another foreign Bank of England (BoE) governor.

Rajan(pic has made sympathetic noises toward the UK’s dilemma, particularly the disillusionment in parts of the country that fuelled the Brexit vote.

Second merger wave likely to hit UAE lenders

Dubai: Banks in the United Arab Emirates may go through a second wave of consolidation as lenders seek to improve profitability and tackle inefficiencies, according Bloomberg Intelligence.

Seacera posts RM102mil quarterly net loss

KUALA LUMPUR: Seacera Group Bhd posted a net loss of RM102.15mil for the quarter ended March 31, 2019, dragged by impairment of plant, machinery, equipment from the shutdown of its tiles factory of RM23mil, as well as impairment from its subsidiary, SPAZ Sdn Bhd of RM43mil.

In a filing with Bursa Malaysia yesterday, the tile maker said the group’s net profit was also impacted by the recognition of liability on corporate guarantee in favour of SPAZ of RM31mil as demanded by SME Bank.

MBSB bullish on growth prospects

KUALA LUMPUR: The new bank in town, Malaysia Building Society Bhd (MBSB), is more bullish on its growth prospects as compared to its peers.

President and CEO of Malaysia Building Society (MBSB) Ahmad Zaini Othman (left) and CFO Tang Yow Sai at the AGM. - Bernama