RHB Bank

Public Bank’s 2Q earnings drop 4.5%

(Aug 19): Despite reporting a 4.5% decline in net profit for the second quarter ended June 30 (2QFY2019), Public Bank’s earnings remain very much within the consensus estimate.

According to Bloomberg data, Public Bank’s average earnings per share (EPS) estimate for FY2019 is RM1.472.

The country’s second-largest lender based on market value reported EPS of 70.66 sen for 1HFY2019, which translates into 48% of analysts’ full-year consensus on Bloomberg, indicating earnings to be within expectations.

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ANZ talks to sell stake in Malaysia's AmBank scrapped

KUALA LUMPUR/SINGAPORE (Aug 23): Australia and New Zealand Banking Group's (ANZ) talks to sell its 24% stake in Malaysian lender AMMB Holdings (AmBank) to retirement fund KWAP have been called off, people familiar with the matter said on Wednesday.

The collapse follows a joint announcement from AmBank and domestic peer RHB Bank late on Tuesday to drop merger talks after failing to reach mutually acceptable terms.

AMMB, RHB confirm merger plan; get BNM nod

KUALA LUMPUR (June 1): RHB Bank and AMMB Holdings have confirmed that they are exploring a merger and that they have obtained approval from Bank Negara Malaysia (BNM) to commence discussions.
 
With BNM’s approval, the two lenders said they have inked an exclusivity agreement to negotiate and finalise terms and conditions of the proposed merger by Aug 30.
 
“It is envisaged that the transaction will effectively be an all shares merger,” RHB and AMMB said in a joint statement today.
 

Talk of AMMB-RHB merger surfaces again

(March 20): Talk of potential merger between mid-sized lenders AMMB Holdings and RHB Bank seems to have resurfaced in the banking industry, with a source telling The Edge that an adviser — a big accounting firm — has been working on certain aspects of the perspective union.

"The firm was brought on board to help study this. It's been kept very hush-hush given the sensitivity [of the matter]. It's a very small group that is aware of this," the source says.

Serrano director Chia Wing Hock declared bankrupt, stripped of post

SINGAPORE (Nov 18): Serrano’s executive director Chia Wing Hock has been declared bankrupt and removed from his post with effect from Nov 17, says the company in a filing to the Singapore Exchange (SGX) on Thursday.

The bankruptcy proceedings against Chia were initiated by RHB Bank.

Chia is the brother of Chia Wing Keong, the CEO and executive director of Serrano, the Catalist-listed provider of interior fit-out solutions.

Serrano updates on bankruptcy proceedings

SINGAPORE (Oct 20): Serrano provided an update on bankruptcy proceedings against CEO Chia Wing Keong by The Bank of East Asia, and Executive Director Chia Wing Hock by RHB Bank, following a hearing in court today.

All further proceedings are adjourned to 3 Nov 2016, the company said in its filing.

Shares of Serrano closed flat at 0.9 cent.

Say ‘Annyeong-Haseyo’ to the Hallyu star of stocks

SINGAPORE (Oct 13): RHB is initiating coverage on South Korean move producer Spackman Entertainment Group with a “buy” recommendation and price target of 22 cents, noting the group is “probably in the best health since its IPO” in mid-2014 while presently trading at a significant discount to peers.

In a Thursday report, analyst Jarick Seet says Spackman is “primed for a strong turnaround”, especially given a strong interest of Chinese firms in South Korean content providers in the last five years.

Serrano unit receives writ of summons over unpaid bills

SINGAPORE (Aug 17): Serrano, the provider of interior fit-out solutions for the residential, hospitality and retail sectors, says its wholly owned subsidiary, Serrano Holdings, has received a writ of summons on Aug 2, from Maxcon Enterprise’s lawyers.

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