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 million in profit.
However, the Finance...