RHB's largest shareholder considers buying everything

By IVCPOST Staff Reporter

Jun 21, 2013 10:10 AM EDT

Employees Provident Fund, RHB Capital Bhd's largest stakeholder, is thinking over buying the entirety of the $6.6 billion Malaysian lender, said a source with knowledge on the issue.

Goldman Sachs Group Inc is partnering with the Employees Provident Fund, Malaysia's biggest pension fund, to look at different options for RHB Capital said the source. Employees Provident Fund Chief Executive Officer Shahril Ridza Ridzuan stated that the fund is not planning a buyout of RHB Capital at the moment.

EPF holds 41 percent of the shares in the firm as of November according to data gathered by Bloomberg. RHB Capital, based in Kuala Lumpur, Malaysia, gained 12 percent the local market trading this year, amounting to about $6.7 billion.

James Lau, Chief Investment Officer at Phiem Asset Management, said that "this is a tactical move on the part of the EPF following the merger with OSK. It has become a different animal and there are a lot of things that have to be reshuffled within the whole group. A lot of these things are best done outside the purview of shareholders."

© 2024 VCPOST, All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics