KUALA LUMPUR (Indonesia Today) – Kim Eng Research Sdn Bhd, subsidiary of Maybank, has voluntarily liquidated itself.
Maybank informed stock market authorities that Kim Eng Research (KER) had convened its extraordinary general meeting on August 30, 2012, at which it resolved that KER be wound-up voluntarily.
KER was carrying on the activity of investment advise and its Capital Markets Services License (CMSL) with the Securities Commission had expired on July 18, 2011. The activity of investment advisory for Maybank Group in Malaysia is currently undertaken by Maybank Investment Bank Berhad.
Maybank is controlling shareholder of Bank Internasional Indonesia (BNII), one of the Top 10 banks in Indonesia by total assets. Re-floating of BNII shares pursuant to stock market regulations has repeatedly been postponed due to weak pricing. (Indonesia Today)