KUALA LUMPUR (July 31): AMMB Holdings Bhd (AmBank Group) CEO Datuk Sulaiman Mohd Tahir did not dismiss possibility that the group's largest shareholder, Australia and New Zealand Banking Group Ltd (ANZ), may be readying to sell its stake in the group, following ANZ's senior officials departing the group.

However, it could also mean AmBank Group has reached a "level of maturity" that its largest shareholder ANZ is comfortable with, Sulaiman suggested.

“Two things...it could signal that (a stake sale) or it could signal that we have reached a level of maturity, because when ANZ came onboard AmBank Group, it was some time in 2007, when there were a lot of new processes and systems being put into the group.

“[Since then], the number of expatriates [seconded from ANZ] in the group has dropped over time. It used to be something like 22 people and today, we have about one or two,” he told reporters when asked after the group’s annual general meeting today, about the latest development.

ANZ currently holds 23.78% in AmBank Group. The latest ANZ secondee to leave AmBank Group was its former chief financial officer Mandy Jean Simpson on June 1. Sulaiman declined to comment further as to whether a stake sale from ANZ is imminent.

“I can’t comment on behalf of the shareholders, but they have been telling the world about their retreat from Asian businesses, in Singapore and in Indonesia. Of course, they will continue to evaluate whether its worthwhile to divest or not to divest — I think the question is timing,” Sulaiman said.

Sulaiman also said it was “preliminary to talk about ANZ’s stake sale” with regards to its proposed merger with RHB Bank Bhd.

Reports have emerged of late, quoting sources, that Kumpulan Wang Persaraan (KWAP) is likely to acquire the bulk of the portion of ANZ’s underwritten shares in the enlarged entity.

“I think it is still too early to say how the end stake in terms of shareholdings of the combined entity, is going to be. Let’s focus on, first of all, do we want the merger to happen. If we do, and the shareholders agree, then [the focus will be on] the consideration and the outcome as a result of the agreement, in terms of the price [agreed on] between both sides,” Sulaiman added.