Manila’s San Miguel near final deal with CIMB on bank unit

MANILA, March 6 – Philippine conglomerate San Miguel Corp is close to a deal to sell 60 per cent of its banking unit to Malaysia’s second-largest lender CIMB Group Holdings Bhd, with the two agreeing on a final price, the chairman of Bank of Commerce said today.

JCorp to raise RM2.5bil (PHOTO)

Johor Corp (JCorp) plans to issue up to RM2.5bil in bonds in a move to refinance its debt that will be due by the middle of next year, reliable banking sources said.

“The bond issuance will refinance the bulk of debt that is coming due next year, meaning that JCorp may not need to carry out any big asset sale soon although there is still a small shortfall,” one banker said.