By Azlan Abu Bakar
Published: 2010/06/18
DATUK Ishak Ismail seems unfazed by the Securities Commission's (SC) move to freeze the RM10.2 million gain he got from selling his stake in financially-troubled Kenmark Industrial Co (M) Bhd.
He declined to comment when asked whether he was surprised by the regulator's move.
"I am enjoying roti prata with mutton curry now. Please don't disturb me," he said in a short messaging service reply to Business Times in Kuala Lumpur yesterday.
On Wednesday, the SC obtained an injunction from the Kuala Lumpur High Court to prevent Ishak from using the gains after selling 58.7 million shares in the furniture company.
He was also ordered to give full and complete details of his assets, whether in Malaysia or elsewhere, within four days.
It is believed that this is the first time the SC has secured a court order to freeze proceeds from a share sale.
http://www.btimes.com.my/Current_News/BTIMES/articles/kenmakk/Article/
Showing posts with label Regulatory. Show all posts
Showing posts with label Regulatory. Show all posts
Thursday, June 17, 2010
BNM Issues Five Commercial Banking Licenses
June 17, 2010 18:20 PM
KUALA LUMPUR, June 17 (Bernama) -- Bank Negara Malaysia (BNM) said Thursday that commercial banking licences will be issued to five foreign banks in a move to further liberalise Malaysia's financial services sector.
The licences would be issued to the wholly-owned subsidiaries of Paribas SA (France), Mizuho Corporate (Japan), National Bank of Abu Dhabi (UAE), PT Bank Mandiri (Persero) Tbk (Indonesia), and Sumitomo Mitsui Banking Corporation Bhd (Japan), it said in a statement Thursday.
In assessing the applications, the central bank said it took into consideration the foreign banks' financial strength, track record, expertise, business plan and potential contribution towards the development of Malaysia's financial sector.
"These banks are expected to add to the diversity of the financial services industry, support the new areas of growth including green technology and facilitate the transformation of the Malaysian economy towards achieving high value-added and high-income economy status.
"The presence of these banks will also further enhance Malaysia's international linkages through facilitating international trade and investment flows between Malaysia and other parts of the world," it added.
-- BERNAMA
http://bernama.com.my/bernama/v5/newsbusiness.php?id=506768
KUALA LUMPUR, June 17 (Bernama) -- Bank Negara Malaysia (BNM) said Thursday that commercial banking licences will be issued to five foreign banks in a move to further liberalise Malaysia's financial services sector.
The licences would be issued to the wholly-owned subsidiaries of Paribas SA (France), Mizuho Corporate (Japan), National Bank of Abu Dhabi (UAE), PT Bank Mandiri (Persero) Tbk (Indonesia), and Sumitomo Mitsui Banking Corporation Bhd (Japan), it said in a statement Thursday.
In assessing the applications, the central bank said it took into consideration the foreign banks' financial strength, track record, expertise, business plan and potential contribution towards the development of Malaysia's financial sector.
"These banks are expected to add to the diversity of the financial services industry, support the new areas of growth including green technology and facilitate the transformation of the Malaysian economy towards achieving high value-added and high-income economy status.
"The presence of these banks will also further enhance Malaysia's international linkages through facilitating international trade and investment flows between Malaysia and other parts of the world," it added.
-- BERNAMA
http://bernama.com.my/bernama/v5/newsbusiness.php?id=506768
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