DBS Group's Potential Entry Into Alliance Bank Malaysia Appears Sensible -- Market Talk

Dow Jones11-11

0344 GMT - DBS Group's potential entry into Alliance Bank Malaysia appears to be a sensible deal, as it could help the Singapore bank fill a gap in its Asean presence, RHB IB analysts Nabil Thoo and David Chong say in a note. A media report last week said that DBS plans to expand in Malaysia, potentially by acquiring stakes in local banks, including the 29.1% stake in Alliance held by Singapore's state investment company, Temasek. Alliance could also benefit from DBS's reach, clientele and banking expertise, while investors are expected to react positively to this development, they say. RHB raises Alliance Bank's target price to MYR5.50 from MYR5.10, and keeps a buy rating. Shares are 6.7% higher at MYR4.80. (yingxian.wong@wsj.com)

(END) Dow Jones Newswires

November 10, 2024 22:44 ET (03:44 GMT)

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