Merger fever cools down

Article Abstract:

Mergers in Malaysia's banking industry have slowed down with the failed merger negotiations between Pacific Bank Bhd. and Oversea-Chinese Banking Corp. (OCBC) and Malaysian Industrial Development Finance (MIDF) Bhd. and Sime Darby Bhd. Legal impediments surrounded the Pacific Bank-OCBC merger talks with Pacific Bank insisting on control over OCBC in the merger despite OCBC owning a 29.65% stake in Pacific Bank. In the MIDF-Sime Darby case, MIDF did not wish to relinquish its 78% stake in Oriental Bank Bhd. with which Sime Darby wishes to merge with.

Bank mergers, Statistics, Malaysia, Sime Darby Bhd., Pacific Bank Bhd., Malaysian Industrial Development Finance Bhd.

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Suharto's son, partner are negotiating to buy remains of Indonesian bank

Article Abstract:

Business partners Bambang Trihatmodjo and Johannes Kotjo are planning to acquire the remaining assets for defunct PT Bank Summa, which ceased operations in 1992 because of debt problems. The two bidders intend to prioritize the settlement of PT Bank Summa's financial obligations to the Indonesian central bank and other commercial banks. A similar acquisition was tried by Bambang's sister, Siti Hardijanti, in 1994 but the negotiations fell through after Siti and her partner failed to show how they would pay off PT Bank Summa's $180 million in debts.

Planning, Trihatmodjo, Bambang, Kotjo, Johannes, PT Bank Summa

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