Malaysian construction stocks are trailing regional peers by the most since 2007, a buy signal to CLSA Ltd. and Manulife Asset Management as the government’s $16 billion building plan sends profit estimates to a record.
RHB Investment Bank Bhd., a unit of Malaysia’s fourth-largest lender, said it’s in talks with potential partners in the Philippines to further its push into Southeast Asia’s fast-growing economies and boost revenue.
Malaysians will go to the polls on May 5 in what is expected to be a close fight as Anwar Ibrahim’s opposition seeks to end 55 years of unbroken rule by Prime Minister Najib Razak’s National Front coalition.
Astro Malaysia Holdings Bhd., the country’s largest pay-TV broadcaster, and shareholders including billionaire T. Ananda Krishnan raised 4.6 billion ringgit ($1.5 billion) in an initial public offering.
CIMB Group Holdings Bhd. and Malayan Banking Bhd. won separate Malaysian central bank approval to begin competing merger talks with RHB Capital Bhd. , triggering a takeover battle that may create Southeast Asia’s biggest bank.
SP Setia Bhd., Malaysia’s biggest listed developer by sales, said shareholder Permodalan Nasional Bhd. made an offer to take over the company in the country’s largest property acquisition in at least two decades.
RHB Capital Bhd. surged to a 14-year high after CIMB Group Holdings Bhd. and Malayan Banking Bhd. won central bank approval to begin separate merger talks, triggering a battle to potentially create Southeast Asia’s biggest bank.