The Malaysian Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
- Published: February 2012
- Region: Malaysia
SINGAPORE (Standard & Poor's) March 16, 2006--Standard & Poor's Ratings Services today placed its 'BBB-/A-3' counterparty credit ratings on Malaysia's Bumiputra-Commerce Holdings Bhd. (BCHB) on CreditWatch with negative implications, following BCHB's announcement that it will acquire Southern Bank Bhd. (BBpi). At the same time, Standard & Poor's revised its outlook on the 'BBB+/A-2' rating on Bumiputra-Commerce Bank Bhd. to developing from stable. Bumiputra-Commerce Bank has a bank fundamental strength rating of 'C+'. BCHB is the holding company of Bumiputra-Commerce Bank, Malaysia's third-largest commercial bank, and Commerce International Merchant Bankers Bhd. (CIMB; BBB/Stable/A-2). On March 15, 2006, BCHB said it is acquiring Southern Bank, Malaysia's eighth-largest bank. The acquisition will be satisfied via cash or a combination of cash and redeemable...
Companies mentioned in this report are: CIMB Group Holding Bhd.,CIMB Bank Bhd.,Southern Bank Berhad,CIMB Investment Bank Bhd.
Action: Outlook: Developing
Action: On CreditWatch:Negative
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Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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CIMB Group Holding Bhd.,CIMB Bank Bhd.,Southern Bank Berhad,CIMB Investment Bank Bhd.