CIMB Group Holdings Bhd., Southeast Asia’s top-ranked investment bank over the past three years, is taking aim at a bigger market following its acquisition of some of Royal Bank of Scotland Group Plc’s operations in Asia.
CIMB Group Holdings Bhd., Malaysia’s second-largest bank by assets, may not break even as planned by the end of this year on its 2012 purchase of most of Royal Bank of Scotland Group Plc’s Asia-Pacific investment banking assets.
Malaysia’s benchmark Kuala Lumpur Composite Index gained 3.31, or 0.3 percent, to 1,026.78 at the close of trading, rounding a 3.6 percent gain this week. It’s the measure’s biggest weekly advance since April 10. The index climbed to its highest close since Sept. 24.
Mukhriz Mahathir, the 48-year-old son of Malaysia’s longest-serving prime minister, will tomorrow contest the vice presidency of the nation’s biggest political party, staking his claim as a potential future national leader.