While RHB Capital announced in March that it would pay M$13.3 million ($3.85 million) for a 49% stake in VSEC, the deal has only now received the necessary approvals.
Malaysian companies have been looking abroad recently for investment opportunities. For example, Malaysia's Maybank in March announced a plan to buy a 15% stake in Vietnam's An Binh Bank.
Maybank is expected to pay M$327 million for the stake û down from the earlier agreed price of M$430 million thanks to the economic environment in Vietnam, which has seen prices spiral lower. Vietnamese inflation is expected to top 25% this year.
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