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Malaysian regulators approve K & N Kenanga's restructuring plan

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Malaysian regulators approve K & N Kenanga's restructuring plan

K & NKenanga Holdings Bhd. received regulatory approvals for its plannedinternalrestructuring under which it will merge with unit

The company said May 4 that it received approvals from BankNegara Malaysia and Securities Commission Malaysia.  

Kenanga Investment Bank is required to report to the centralbank a revised internal capital adequacy assessment process detailing capitalmanagement plans to maintain its total capital ratio above the internal capitaltarget of 20%.