Lender gets extension on BII stake sell

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has received another six months' extension from Indonesia's regulator to sell down its shareholding in PT Bank Internasional Indonesia Tbk (BII). The bank received a letter dated December 27 2012 from Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam), granting a further extension of six months starting from the date of the approval letter to fulfil the selldown requirement. Maybank, which bought BII in 2008, owns 97.3 per cent of Indonesia's eighth largest lender.