THAI FINANCE MINISTER TO DECIDE ON CIMB DEAL

BANGKOK, Sept 25 (Bernama) -- Incoming Thai Finance Minister Suchart
Thadathamrongwet today gave an assurance that he would make a decision soon on
Malaysia's CIMB Group purchase of 42 percent equity worth RM577.4 million
(US$1=RM3.4) in BankThai PlC.

Suchart said any decision pertaining to the purchase would be made before
the lapse of the memorandum of understanding (MOU) between CIMB and Financial
Institutions Development Fund (FIDF) which holds the stake.

"I will decide myself about the purchase...but definitely within the time
frame specific in the MOU," he told reporters here Wednesday.

Suchart, currently the deputy finance minister, has been nominated to be
the
Finance Minister under new Prime Minister Somchai Wongsawat and the new Cabinet
is waiting for Royal endorsement.

CIMB Group Chief Executive Officer Nazir Razak is said to have been here
last week to meet with FIDF and BankThai executives as the deal must be
completed by November.

In July, the Bank of Thailand requested the Finance Ministry to approve an
increase in the foreign ownership limit for BankThai Plc.

CIMB announced in June that it would pay RM577.4 million to purchase a 42.13 per
cent stake in BankThai from FIDF. It also proposes to buy the remaining shares.

The transaction requires Finance Ministry approval as the foreign limit of 49
per cent could be exceeded under the deal. CIMB outbid offers from 14 other

The acquisition will see CIMB Group emerging as the ninth largest commercial
bank in Thailand in terms of assets through 147 branches nationwide.
-- BERNAMA