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Publish date: Tue, 10 Apr 2012, 07:10 PM
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Malaysia's RHB wants to start Indonesia bank
Malaysian lender RHB Capital expects to start its operations in Indonesia by the end-2012 should it manage to complete an acquisition of Bank Mestika Dharma in the third quarter of this year, said RHB's top official on Tuesday. The 1.1 billion ringgit ($358.13 million) deal, first launched in 2009, has been delayed repeatedly due to uncertainties surrounding investment policies in Indonesia's banking sector.

Indonesia's response to foreign ownership will come into play again after Singapore's DBS Group, Southeast Asia's biggest bank, launched a $7.24 billion takeover offer bid for the nation fifth largest lender Bank Danamon last week. ($1 = 3.0715 ringgit) (Reporting By Yantoultra Ngui; Editing by Niluksi Koswanage).

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