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Title: Accounting Ethics
Words: 1538
As Asia's banks pick up the pieces in the wake of the regional financial crisis, the merger of Singapore's Keppel Bank and Tat Lee Bank could be a trendsetter for changes in the industry.
The ever-more-spectacular mega-merger seems to be the instrument of choice when it comes to reshaping the financial sector in the United States and Europe. But the recently completed union of two small banks in Singapore strongly suggests that in Asia, consolidation in this industry often will evolve along very different lines.
The 1998 merger of Keppel Bank and Tat Lee Bank was a comparatively modest transaction in terms of size, but it had a level of complexity that rivaled many larger deals and a sense of urgency that made it a high-stakes transaction. Although it was an in-market merger, in ...
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