Still waiting to close a chapter.

NEITHER RHB Bank's Tan Sri Abdul Rashid Hussain nor people from the Sarawak-based Utama Banking Group have come forward to clearly say what is holding up or indeed might have derailed the two banks' merger process.

The word on the market is that Rashid is ready to hand over control of his bank to the owners of Bank Utama - at the right price of course - which makes the current situation all the more puzzling. That it is believed Rashid wants to get out of the banking business and concentrate on his other ventures suggests he would not be unreasonable in his demands. So what is keeping Cahaya Mata Sarawak (CMS), the majority owner of Utama, from clinching the deal? …