Maybank Said to Plan $1.4 Billion Offer for Kim Eng

Malayan Banking Bhd., Malaysia’s biggest lender by assets, is planning an offer of about 4.2 billion ringgit ($1.4 billion) for Singapore broker Kim Eng Holdings Ltd., two people with knowledge of the matter said.

Maybank, as the Kuala Lumpur-based bank is known, will make a general offer to shareholders, said the people, declining to be identified as the plans are confidential. Both companies’ shares were suspended today pending an announcement. Kim Eng said Dec. 17 it had been approached about a takeover.