Investor Relations


The Affin Bank Group is a financial services conglomerate. The Group's activities focus on commercial, Islamic and investment banking services, money broking and underwriting of life and general insurance business.

(A) PROPOSED DISPOSAL OF 21.00% EQUITY INTEREST IN AXA AFFIN LIFE INSURANCE BERHAD (AALI) (PROPOSED AALI DISPOSAL); (B) PROPOSED DISPOSAL OF APPROXIMATELY 2.95% EQUITY INTEREST IN AXA AFFIN GENERAL INSURANCE BERHAD (AAGI) (PROPOSED AAGI DISPOSAL); AND (C) PROPOSED ACQUISITION BY AAGI OF CERTAIN ASSETS AND LIABILITIES OF MPI GENERALI INSURANS BHD VIA A BUSINESS TRANSFER TO AAGI (PROPOSED MERGER) (COLLECTIVELY REFERRED TO AS THE PROPOSALS)

Type Announcement
Subject OTHERS
Description

AFFIN BANK BERHAD (AFFIN OR THE COMPANY)
(A) PROPOSED DISPOSAL OF 21.00% EQUITY INTEREST IN AXA AFFIN LIFE INSURANCE BERHAD (AALI) (PROPOSED AALI DISPOSAL);
(B) PROPOSED DISPOSAL OF APPROXIMATELY 2.95% EQUITY INTEREST IN AXA AFFIN GENERAL INSURANCE BERHAD (AAGI) (PROPOSED AAGI DISPOSAL); AND
(C) PROPOSED ACQUISITION BY AAGI OF CERTAIN ASSETS AND LIABILITIES OF MPI GENERALI INSURANS BHD VIA A BUSINESS TRANSFER TO AAGI (PROPOSED MERGER)

(COLLECTIVELY REFERRED TO AS THE PROPOSALS)

We refer to the announcement dated 22 June 2021.

 

On behalf of the Board of Directors of Affin, Affin Hwang Investment Bank Berhad wishes to announce that Affin had on 30 June 2021 submitted an application to Bank Negara Malaysia (“BNM”) to seek the approval of BNM and the Minister of Finance, Malaysia through BNM, for Affin to undertake the Proposed AALI Disposal and Proposed AAGI Disposal.

 

Further details on the Proposals will be announced in due course.

 

This announcement is dated 30 June 2021.





Announcement Info

Company Name AFFIN BANK BERHAD
Stock Name AFFIN
Date Announced 30 Jun 2021
Category General Announcement for PLC
Reference Number GA1-29062021-00030