SINGAPORE: TNG Digital Sdn Bhd, an e-wallet operator owned by CIMB Group and China’s Ant Group, is in advanced talks with investors to raise at least US$150mil (RM604.5mil) to fund expansion plans, four sources familiar with the matter said.
A Malaysian e-wallet operator owned by CIMB Group and China's Ant Group is in advanced talks with investors to raise at least $150 million to fund expansion plans, four sources familiar with the matter said.
Unperturbed, AMMB Holdings Bhd group CEO Datuk Sulaiman Mohd Tahir says the lender has already factored in future rate cuts.“In our scenario planning, we have already factored in potential rate cuts as part of our risk management plan, ” he tells StarBizWeek.
WITH a large portion of Malaysia now in full-swing movement control order (MCO) mode given the recent spike in Covid-19 cases, new concerns over economic growth have emerged.
The question now is will Bank Negara cut the benchmark Overnight Policy Rate (OPR) to spur growth at its upcoming Monetary Policy Committee (MPC) next week?
And if it does, will banks continue to see lower profits from last year, as the OPR determines their main rates, including their lending and deposit rates.
Broker s take: CGS-CIMB maintains add on Dairy Farm, raises TP to US$5 50 businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.