Khazanah mandates JPM, CIMB

The new administration''s first equity sale will likely be completed by the end of the year, although no decision has been made on what is going to be sold.

JPMorgan and CIMB have scored something of a bull's eye by being awarded a key mandate from Khazanah Nasional - the investment holding arm of the Malaysian government. The mandate is open ended at the moment with sources saying an equity sale is likely to happen in one of four separate stocks - Telekom Malaysia, Tenaga Nasional, Astro AllAsia Networks or PLUS Expressways. No decision has yet been made as to which stock Khazanah will end up selling.

Similarly no decision has been made about the method of disposal. Many banks have been to see Khazanah, most recently in a beauty parade last month in which a number of...

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