Maybank Said to Plan $1.4 Billion Bid for Broker Kim Eng

Malayan Banking Bhd., Malaysia’s biggest lender by assets, is planning a 4.2 billion ringgit ($1.4 billion) general offer for Kim Eng Holdings Ltd., a Singapore securities broker, said a person familiar with the matter who couldn’t be identified as the information was confidential. 

Both Malayan Banking, or Maybank, and Kim Eng’s shares were suspended today pending an announcement. Kim Eng said in a Singapore exchange filing on Dec. 17 that it had been approached by unidentified parties that may be interested in buying its shares that may lead to a general offer. 

Celina May Benjamin, a Maybank spokeswoman, was not immediately available for comment when phoned by Bloomberg.Source: Bloomberg