Hold or Fold?
Facing increased pressure to finalize the sale of government assets, IBRA may be forced to sell Bank Niaga at a discount. Last Thursday, IBRA named Commerce Asset Holding Berhad the winning bidder for the government's 51 percent stake in the bank.
September 17, 2002
IBRA's choices are limited. After postponing the sale of Bank Niaga last June, it appears Commerce Asset Holding will realize its dreams of controlling Bank Niaga before too long. IBRA's Thursday announcement concludes months of negotiations. IBRA Chairman, Syafruddin Tumenggung, confirmed that Malaysian finance firm Commerce Asset Holding was fit to acquire the shares. Separately, Commerce Asset Holding Director, Mohammed Rozali A
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