DRB-Hicom to keep Bank Muamalat stake

DRB-HICOM Bhd will not divest all its stake in Bank Muamalat Malaysia Bhd to Affin Holdings Bhd.

The group will simply pare down its share in accordance to the requirement of Bank Negara Malaysia.

BNM had given Affin permission to commence talks with Bank Muamalat's owner DRB-HICOM, which has a 70 percent stake and Khazanah Nasional Bhd with 30 per cent on a possible stake acquisition.

"As part of the management team I believe the shareholders at some stage will be getting together to commence the negotiation," he said Bank Muamalat CEO, Datuk Redza Shah Abdul Wahid.

For more.