DBS Group Holdings Ltd, the largest bank in Singapore, is considering expanding its presence in Malaysia by acquiring stakes in local banks. This move is part of DBS’s strategy to solidify its presence in Southeast Asia, with Malaysia being a key market. The bank is reportedly interested in acquiring a 29.1% stake in Alliance Bank Malaysia Bhd, currently valued at $460 million, which is owned by Singapore state investor Temasek. This move would give DBS a foothold in Malaysia, as it is the only Singaporean bank without retail operations in the country. The article also mentions the positive economic outlook in Malaysia, with its economy growing 5.9% in the second quarter, driven by increased household spending and infrastructure investments. Meanwhile, the European Union and China are facing trade tensions, with the EU expressing concerns over discriminatory trade practices and China imposing tariffs on European imports. The article concludes that these developments highlight the complex dynamics in international business and trade strategies, and how regional economic and political climates will influence the decisions made by financial powerhouses like DBS.
Source: https://evrimagaci.org/tpg/dbs-targets-malaysian-expansion-amid-trade-tensions-53327