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Strategies & Market Trends : Asia Forum

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To: Worswick who wrote (2593)	3/11/1998 11:26:00 AM
From: Mohan Marette	of 9980

SIDBY-News Worswick and all SIDBY fans,here is a bit of news I found which may be of interest to you. MALAYSIA'S RASHID HUSSAIN BHD TO BUY SIME BANK BHD KUALA LUMPUR - Rashid Hussain Bhd has agreed to acquire Sime Bank Bhd from diversified group Sime Darby Bhd [OTC BB:SIDBY - news] for RM852.24 million (US$223.6 million). The acquisition and merger would create the second largest bank in Malaysia. Sime Darby owns 60.35 percent of the ailing bank while KUB Malaysia Bhd owns about 30 percent. Sime Bank posted a loss of RM1.8 billion (US$453 million) for the half year ended Dec 31, 1997 and needs RM1.2 billion in fresh capital to stay afloat.

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