The owners of Malaysia's Alliance Bank Group are on the lookout for suitable suitors for a merger of the bank, a report said Sunday.

Malaysian Plantation Bhd (MPlant), which owns 100 percent of Alliance, has approached several financial institutions about a merger, The Edge business newspaper said.

They included top bank Malayan Banking Bhd (Maybank) and EON Capital Bhd which owns EON Bank Bhd.

Likeliest candidate

Speculation in the market was that Maybank was the likeliest candidate to acquire Alliance Bank, but Maybank had declined to comment, the paper said.

The central bank, Bank Negara Malaysia, also declined to comment.

Bank Negara oversaw the restructuring of Malaysia's banking industry into 10 "anchor" groups. It envisages further consolidation to leave between six and eight banks, but has stressed the process would be market driven. - AFP