http://www.btimes.com.my/articles/kmua-2/Article/

Khazanah Nasional Bhd plans to sell its 30 per cent stake in Bank Muamalat Malaysia Bhd, a move which could pave the way for a merger between the Islamic lender and its bigger rival Bank Islam Malaysia Bhd, sources said.


Bank Muamalat is 70 per cent-owned by conglomerate DRB-HICOM Bhd. Bank Islam is the country's oldest Islamic lender.

Khazanah, the government's investment arm, is on a mission to gradually divest all its non-core holdings and assets.

Managing director Tan Sri Azman Mokhtar, when met by Business Times last week, said Khazanah sees its stake in Bank Muamalat as a "non-core holding" and that it "could be" sold within this year. He declined to reveal more.

It is learnt, however, that Khazanah had recently sent out feelers to Bank Islam's parent, BIMB Holdings Bhd, on buying its stake. Bank Islam is said to be keen.