The press conference of Public Bank has been rescheduled to Thursday.

Public Bank did not disclose the reason for holding the press conference early, nor did the bank disclose the main content of the press conference, only indicating in the media invitation that this is to announce a major corporate news.

The investment holding company established by the late Tan Sri Teh Hong Piow - Consolidated Teh Holdings Sdn Bhd, is the major shareholder of Public Bank and Lun Ping.

Numerous media reports yesterday stated that Public Bank will acquire Lun Ping, while Bloomberg today quoted some unnamed sources who mentioned that Public Bank will acquire nearly 43% of Lun Ping's shares held by Consolidated Teh Holdings through cash and stock issuance.

Once this transaction is finalized, Public Bank will trigger a mandatory general offer for Lun Ping, with sources stating that the purpose of Public Bank's acquisition is to become a comprehensive full-service bank, providing all different types of financial services.