More frustration for Rashid

A new blow for Tan Sri Rashid Hussain as he seeks to retain control of his bank.

In Asia, irony is never in short supply. No one knows this better than Tan Sri Rashid Hussain.

In February 1998, the Malaysian banker was on the verge of acquiring the Renong-controlled banking group Commerce Asset. Today, many analysts are wondering whether Commerce will get control of his bank instead. This may be the upshot of a recent decision by Malaysias Finance Ministry to allegedly veto the sale of a 15% stake in RHB Bank to RHB Capital.

The 15% stake was set to be sold by the bank restructuring agency Danamodal to RHB Capital for M$1.38 billion $363 million, netting the government agency M$380 millionĀ in profit.

However, the Finance...

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