AMBANK AGAINST FINANCIAL CRISIS 1997-1998

1997 - 1998 : intro

Before the Asian Crisis, the AmBank Group was a favourite among foreign
investors.
Almost 50% of the listed merchant bank was held by foreign interests in
early 1997.

1997 Asian financial crisis. AmBank Group not only survived but
maintained its ownership. It continues to be controlled by tycoon
Azman Hashim, widely regarded as one of Malaysia's most successful
Malay entrepreneurs, who founded the group in 1982.

It cut costs by decreasing the number of staff, brought in professional

management and introduced new risk management technique to maximize
profit.

In 1998-99, the AmBank Group borrowed 1.8 billion ringgit from Danamodal,
a government recapitalization agency, to restore its balance sheet.

Property prices and the stockmarket crashed in the wake of the Asian Crisis
and
the bank was left with a bad loans.

Road to recovery : https://groups.google.com/forum/#!

topic/soc.culture.malaysia/nRq6cor_sXA