rhb capital

As Maybank and CIMB prepare to fight for RHB Capital, investors ask whether the resulting new banking group will be made of muscle or fat.

The Employees Provident Fund sells 4.5% in RHB Capital, while Malaysia Telekom offloads just under half of its 2.27% stake, raising a combined $368 million.

The controlling shareholder of Indonesian coal company Indika sells $212 million of shares while, in Malaysia, Khazanah raises $128 million by reducing its stake in Malaysia Airports.

Malaysia's RHB Capital agrees to pay $329 million for 80% of Bank Mestika in Indonesia and will fund the deal through a rights issue.

The Malaysian mobile phone operator secures strong support from Khazanah for the deal, which is expected to be followed by a similar-sized rights offering from Maybank.