KUALA LUMPUR (May 12): RHB Capital Bhd (RHBCap) is eyeing merger and acquisition (M&A) opportunities with commercial banks in Indonesia.

"We have investment bank, asset management, so potentially the big piece missing is commercial," RHB Banking group managing director Datuk Khairussaleh Ramli told reporters, after the banking group's annual general meeting today.

"We look at opportunities etc... but nothing we can be seriously be excited about [now]," he said.

Currently, he said RHB has securities business and asset management in Indonesia, with a profit that is about RM5 million, which he described as "still relatively small" to the group size.

RHBCap had completed the transfer of its entire stake in its subsidiaries to RHB Bank Bhd in April.

With the completion of the internal reorganisation, RHB Bank is effectively the new group holding company.

The transfer of the listing status from RHBCap to RHB Bank is expected to be completed by mid-July.

At 12.30 p.m., RHBCap shares were traded at RM6.01, up 1 sen or 0.17%, with 104,200 shares traded, for a market capitalisation of RM18.48 billion.