PETALING JAYA: Public Bank Bhd said it is not involved in the establishment of a joint venture (JV) between one of its former regional head Datuk Phan Ying Tong and G Capital Bhd to set up a commercial bank in Cambodia.
In a statement, the group said it wished to further clarify Phan was acting of his own accord in the JV, as he had resigned from all his positions within the group and was no longer the regional head of Public Bank’s Indo-China operations.
“Following Datuk Phan’s resignation, he is no longer authorised to represent the Public Bank Group in any matters.”
The statement followed news reports on Tuesdsay, which said G Capital had entered into a heads of agreement with Phan and E S Packaging Co Ltd to establish the new bank, to be named Oriental Bank Plc.
Meanwhile in a separate statement, Phan issued his own comment saying: ““I wish to clarify that my collaboration with G Capital Bhd and others in setting up a full-fledged commercial bank in Cambodia will be undertaken under my personal capacity. While I have previously served as Public Bank Bhd’s regional head for Indo-China operations, I no longer represent the bank in any role following my resignation.”
