PNB Is Saying Maybank rights a good buy

On Business Times: Maybank rights a good buy: PNB

• PERMODALAN Nasional Bhd (PNB) will buy new Malayan Banking Bhd (Maybank) shares set aside for it under a rights issue as it is a good buy, president and group chief executive Tan Sri Hamad Kama Piah Che Othman said yesterday.
  
  "Of course today there may be concerns (about Maybank) here and there. But as a long-term player, we want to make sure we get long-term returns," he told reporters after a briefing in Kuala Lumpur.
  
  Maybank has set the price for its proposed RM6 billion rights issue at RM2.74 per share. The stock closed at RM4.02 yesterday.
  
  Maybank told Bursa Malaysia earlier that PNB and the unit trust funds it manages will buy their portion, or 55.7 per cent, of the new shares. PNB has also offered to buy another 20 per cent.

Yeah, they are indeed real concerns.

Maybank Has Lost 24.1 Billion In Market Capital Since BII Deal!!!

How could the minority shareholders be happy?

Maybank had been overpaying for banks here and there.

And now there is a rights issue.

How?

Is the rights issue needed to pay for Maybank's gross mistake in overpaying for those banks?