BOC’s restructuring exercise is aimed at seizing business opportunities under the China-advocated One Belt, One Road initiative. The Reuters photo shows Hong Kong Exchanges flag, Chinese national flag and Hong Kong flag outside the Hong Kong Stocks Exchange.
KUALA LUMPUR: Bank of China Ltd (BOC) has kickstarted the restructuring of its Asean operations by selling its Malaysian and Thai units to its subsidiary BOC Hong Kong (Holdings) Ltd (BOCHK), one of Hong Kongs biggest commercial banking groups.
In a statement to the Stock Exchange of Hong Kong, BOC said it signed an agreement on Thursday to sell the entire share capital of Bank of China (M) Bhd and Bank of China (Thai) Public Co Ltd to expand the business reach of BOCHK, in which…
Read the full article at: http://www.thestar.com.my/business/business-news/2016/06/30/bank-of-china-to-sell-malaysian-unit-for-rm2bil-in-group-restructuring/