Banks' mega merger still on

CIMB Group Holdings Bhd, Malaysia Building Society Bhd (MBSB) and RHB Capital Bhd today clarified that they are still in discussions with respect to the proposed mega merger.

CIMB Group said the Group's board of directors would be meeting tomorrow to discuss the proposed merger.

"Should there be any material development on the proposed merger which warrants disclosure, the appropriate announcement will be made on Bursa Securities accordingly," it said.

The three parties simultaneously answered Bursa Malaysia's query following a news report saying that the merger deal "is off and an announcement is expected before the end of the week…".

Echoing CIMB Group's statement, MBSB said it would be having a regular board meeting tomorrow, which had been scheduled last week.

"Among the items for deliberation are matters relating to the proposed merger," it said.

RHB Capital meanwhile said that the company was unable to provide further details pertaining to the current status of the said mega bank merger as the parties to the proposed merger are still in discussions.