Public Bank honours visionary founder on first memorial anniversary theborneopost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theborneopost.com Daily Mail and Mail on Sunday newspapers.
Berjaya Corp Bhd's founder and major shareholder Tan Sri Vincent Tan Chee Yioun intends to pare his stake to 19.6% from 26%, paving the way for the diversified group's potential acquisition of a 51% stake in a financial services company.
KUALA LUMPUR (Dec 13): CGS-CIMB Securities has maintained its “add” rating on Public Bank Bhd at RM4.41 with a target price of RM5.20 and said while the demise of the bank’s founder and chairman emeritus Tan Sri Dr Teh Hong Piow is a loss to the bank, it does not expect this to materially affect the outlook of the bank as it is backed by a strong management team. In a note on Monday (Dec 12), the research house said Teh’s demise would trigger a major change in the shareholding structure of Public Bank.
Following the passing of LPI Capital Bhd’s founder and chairman Tan Sri Dr Teh Hong Piow on Monday (Dec 12), the insurer’s counter sat at the top of Bursa Malaysia’s losers list after its share price fell 32 sen or 2.44% to close at RM12.80.
Public Bank Bhd founder and chairman emeritus Tan Sri Dr Teh Hong Piow passed away on Monday morning (Dec 12) at the age of 92, the bank confirmed in the evening, a few minutes before the stock market's 5pm close. “It is with deep sorrow we announce that our chairman emeritus.passed away peacefully at 10.20am today at the age of 92. Teh’s passing is a great loss to the Public Bank group,” the bank’s managing director and chief executive officer Tan Sri Tay Ah Lek said in a media release.