"The Edge, May 5, 2008 - As expected, Malayan Banking Bhd announced the proposed acquisition of a 15% stake in Pakistan-based MCB Bank Ltd for RM2.17 billion cash as part of its expansion plan."
The management of Maybank sure got the nerve to do the transaction even though they are without a CEO/MD. For such a corporation to do this kind of transaction in between the change in top management is unheard off. Well, there were such instances in other corporations in the past but but invariable it was a start to a bigger problem.
If the deals goes sour, who will ultimately take the blame? The incoming CEO/MD? He won't be so stupid to accept responsibility. The current management committee? Who are they anyway?
I hope the authorities and the shareholders go through this deal with a fine tooth-comb.
No comments:
Post a Comment