Research Update: Malaysia's Maybank Ratings Affirmed On Acquisition Announcement Mar 08
- ID: 2030378
- March 2008
- Region: Malaysia
- Standard & Poors
On March 28, 2008, Standard & Poor's Ratings Services affirmed its 'A-/A-2' counterparty credit ratings on Malaysia's Malayan Banking Bhd. (Maybank). The outlook is positive. Maybank has announced that it is to acquire a controlling interest of 56% in PT Bank Internasional Indonesia Tbk. (BII; B+/Watch Pos/B) through Sorak Financial Holdings. Maybank will also be tendering for the approximately 44% in BII held by the public. The process is likely to take slightly more than six months. This acquisition is part of Maybank's strategy to increase its geographic diversification. Over the next few years, the acquisition of BII is expected to improve Maybank's future income profile by serving as a platform in the growing Indonesian market. (See article titled "Research...
Companies mentioned in this report are:
- Malayan Banking Bhd.
- PT Bank Internasional Indonesia Tbk.
Action: Outlook: Positive
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Product Type: Research Update
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