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MALAYSIAN Industrial Development Finance Bhd (MIDF) has received approval from Bank Negara to start negotiations with Utama Banking Group (UBG) to purchase the equity of Utama Merchant Bank Bhd (UMBB).
MALAYSIAN exporters will likely receive a strong boost in competing at the international level in the form of #147;specific#148; incentives although the range is expected to be smaller in the forthcoming Budget 2004.
Public Bank Bhd#039;s (PBB) 61.4%-owned Hong Kong subsidiary JCG Holdings Ltd has proposed buying out minority shareholders for HK$1.26bil (about RM630mil), or HK$4.61 (RM2.25) per share, and go private.