RHB delays pursuit of Bank Mestika

RHB Capital has put on hold its application to acquire Indonesia's PT Bank Mestika Dharma amid Bank Indonesia's plans to limit single-party ownership in commercial banks to not more than 50%.

“It is too early for us to comment further at this stage as there is no clarity on the outcome of the new ruling.
“We continue to closely monitor the developments,” RHB Cap told The Star.

RHB Cap's decision to put on hold its proposed buy of Bank Mestika comes

However, this is still at the assessment stage.

RHB Cap had earlier stated its intention to buy 80% in Bank Mestika for RM 1.16 billion.

If RHB Cap aborts its plan to buy Bank Mestika, it will be the second local bank to do so after Affin Holdings Bhd said last month that it had cancelled its plan to acquire Indonesia's PT Bank Ina Perdana following reports that the country was planning to impose the limit on single-party ownership.