On Oct 17, the Hong Kong-listed BOC Hong Kong (Holdings) Ltd announced it had completed the acquisition of the Bank of China (M) Bhd (BoC Malaysia) from its parent, the Bank of China. “The acquisition will see BoC Malaysia become a subsidiary of Bank of China HK Ltd (BoCHK). BoC Malaysia is the first Asean unit of the Bank of China Group that was merged into BoCHK. BoC Malaysia currently has branches in Sarawak (Kuching), Johor (Muar, Johor Baru), Kuala Lumpur, Selangor (Klang, Puchong) and Penang. Following rapid economic and trade development between Malaysia and China in the subsequent years, BoC Malaysia recommenced business as a commercial bank on Feb 23, 2001.

Source: The Edge Markets November 07, 2016 02:06 UTC