MBF in Burma

[altsean@xxxxxxxxxx]

The Star (Malaysia)
Saturday, May 24, 1997

MBf eyes full-fledged banking ops in Myanmar by year-end

KUALA LUMPUR: MBf Holdings Bhd says it expects to have a full-fledged
banking operation in Myanmar by year-end. 

MBf group chief executive officer Tan Sri Loy Hean Heong said the
group's first move in Myanmar was the setting up of a representative
office two months ago. 

"We are in the process of identifying a local partner and would start
talking to the relevant authorities, including Myanmar's central bank,
for a licence," he said. 

Loy said after MBf Capital Bhd's AGM in Kuala Lumpur yesterday that the
capital of the proposed bank in Myanmar would depend on the size of  its
operations. 

The minimum amount set by the Myanmar government was US$5 million
(RM12.5 million), he added.