REGULATORY OBSTACLES: Several Taiwanese banks have set up offices in Malaysia, but strict controls on licenses have prevented them from being upgraded to branches

Taipei Times
Date: Apr 12, 2018
By: Staff writer, with CNA

Cathay Financial Holding Co (國泰金控), one of the nation’s largest financial institutions, yesterday said it has terminated an agreement to acquire the Malaysian banking assets of Canada-based Bank of Nova Scotia, commonly known as Scotiabank.

In a filing with the Taiwan Stock Exchange, Cathay Financial said it decided to end an agreement to acquire Scotiabank’s Malaysian subsidiary, Bank of Nova Scotia Bhd, because certain terms of the transaction were not fulfilled.

Cathay Financial did not provide further details on exactly why the acquisition fell through, as the two sides had signed a nondisclosure agreement.

Cathay Financial vice president Teng Chung-yi (鄧崇儀) said that the acquisition price was not the problem.    [FULL  STORY]