INDONESIA - BANKING - Maybank Investment, Kim Eng Integration Progressing Well, To Be Completed End-2012 (BII)

BERNAMA.COM - KUALA LUMPUR, Sept 15 (Bernama) -- The integration between Maybank Investment Bank Bhd and Singapore broker, Kim Eng Holdings, are now in stage two and is progressing well.

Maybank Investment Bank chief executive officer Tengku Zafrul Tengku Abdul Aziz said the integration phase followed completion of Maybank's acquisition of Kim Eng in May. (source)

BANKING - MALAYSIA - MAYBANK - Prudence needed in expansion plans

WHEN news broke yesterday morning that Maybank was buying Singapore's Kim Eng Holdings Ltd, many wanted to know if the country's largest bank in terms of assets was indeed overpaying for the stake in the Singapore brokerage.

The concerns are valid as Maybank was widely criticised for having paid hefty premiums of 4.65 and 5.1 times price-to-book value respectively to enter the Indonesian and Pakistan markets in 2008 and many wonder if it will do the same this time around.