Mitsubishi to strengthen alliance with CIMB

Mitsubishi USJ Financial Group Inc plans to strengthen its capital alliance with CIMB group to boost its banking business in South-East Asia.

It is selling its 29.9% stake in Kim Eng Holdings Ltd for 34 billion yen to Maybank.

Mitsubishi UFJ, which owns 4.1% of CIMB, wants to increase equity and bond underwriting in the region with its partner's corporate client network, the Japanese's brokerage unit said in a statement yesterday. The Japanese banking group's stake sale in Kim Eng is part of Maybank's takeover of Singaporean stockbroker Kim Eng.

Mitsubishi UFJ is seeking to utilise its stake in CIMB group to maintain a presence in Asean, as its smaller rival Sumitomo Mitsui Financial Group was rumoured to be eyeing Abu Dhabi Commercial Bank's 25% stake in RHB Cap.

ADCB's was seeking to sell its stake in RHB Cap as part of its rationalisation programme and also in line with Abu Dhabi's plan to rationalise its banking assets under a single umbrella.

The full story is available at thestar.

Follow the link for more news on

Also Read

OCBC Ignite aims to double poly graduate intake

Singapore’s big banks aim for 96% emissions cut by 2050

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

What is Lorem Ipsum?

What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Evergreen Group obtains financing license to expand in Malaysia