RHB Bank share trade suspended on an asset disposal announcement?

-A +A

KUALA LUMPUR (July 31): The suspension of trading in the securities of RHB Bank Bhd this morning is likely to do with an asset disposal exercise, according to sources.

"The official announcement will be announced this afternoon," says a source.

When contacted, banking analysts say a potential asset for RHB Bank to dispose of is its insurance business.

Trading in the securities of RHB Bank has been suspended from 9am today, pending a material announcement.

In a filing to Bursa Malaysia this morning, RHB Bank said it had requested for the trading suspension and received approval from Bursa Malaysia.

"The request for suspension is made under Paragraph 3.1(b) of Practice Note 2 of the Main Market Listing Requirements of Bursa Malaysia Securities Bhd, pending a material announcement to be released by the company," it said.

See also: Trading in securities of RHB Bank suspended pending material announcement