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Hwang-DBS Gets Nod To Start Brokerage Sale Talks With AMMB Holdings Berhad, AFFIN Holdings Berhad-Reuters


Monday, 15 Apr 2013 08:26pm EDT 

Reuters reported that Hwang-DBS Malaysia Bhd, a financial services firm, said on Monday the central bank has given it permission to start talks to sell its brokerage unit Hwang-DBS Investment Bank Bhd to two potential suitors, AMMB Holdings Berhad and AFFIN Holdings Berhad. The announcement comes as Malaysian authorities encourage bank mergers to create larger groups with the financial muscle to grab market share in Southeast Asia, whose ASEAN grouping plans to form a single economic zone by 2015. 

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