The Malaysain Insider, 31 Dec 2008
KUALA LUMPUR, Dec 31 — While approving its leading DBS Bank to raise capital through a rights issue, Singapore’s financial authorities have been quietly wooing Malaysian banks to set up shop in the island state at a time of evaporating capital markets and melting bank balance sheets.
Local financial industry sources said the Singaporeans have been actively courting Malaysian banks to shore up the region’s leading financial hub’s faltering capital markets as several banks close shop or merge in the current meltdown.
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