DBS Group Holdings, the only Singapore bank without a retail presence in Malaysia, is mulling potential acquisitions across the Causeway, reports Reuters, citing unnamed sources.
According to Reuters, one possibility is to take over Temasek’s 29.1% stake in Alliance Bank Malaysia, which is now valued at US$460 million.
DBS had previously tried to buy Temasek’s stake in Alliance Bank in 2012 but failed to clear regulatory hurdles.
DBS’s own largest shareholder is Temasek.
Another option is to buy Kuwait Finance House’s Malaysian retail banking assets, worth more than US$500 million and which have been put up for sale, one of the sources told Reuters.
“We do not comment on market rumours and speculation,” says a DBS spokesperson in response to Reuters. Temasek declined to comment as well.
