Khazanah's MD says 'not in a rush' to sell Bank Muamalat stake

Khazanah Nasional Bhd is "not in a rush" to sell its 30% stake in Bank Muamalat Malaysia Bhd, under the proposed merger with Malaysia Building Society Bhd (MBSB). Khazanah's managing director Tan Sri Azman Mokhtar said the Malaysian state-owned investment arm's decision was incumbent upon the negotiated value for its Bank Muamalat stake. He cited the right price and the right configuration as requirements for a sale. DRB-Hicom Bhd holds the balance 70% stake in Bank Muamalat. According to Azman, as Khazanah is only a 30% shareholder in Bank Muamalat, Khazanah is not taking the lead in the merger talks. Khazanah will make a decision based on whatever they decide, he added.