AFFIN Bank Berhad ("ABB") wishes to announce that AFFIN Holdings Bhd. ("AHB"), a dormant and wholly-owned subsidiary of ABB, had commenced Members' Voluntary Winding-up pursuant to Section 439(1)(b) of the Companies Act, 2016.

Pursuant thereto, Datuk Tan Leh Kiah of AD-Consult Sdn. Bhd., Suite 13.03, 13th Floor, Menara Tan & Tan, 207 Jalan Tun Razak, 50400 Kuala Lumpur, has been appointed as Liquidator.

Brief Information on AHB

AHB was incorporated on 31 May 1975 and is currently dormant. Its existing issued share capital is RM2.00 consisting of 2 ordinary shares.

In 2017, both AHB and ABB undertook a corporate exercise which entailed the transfer of AHB’s entire equity interests in its subsidiaries, joint venture and associate to ABB and subsequently the transfer of the listing status from AHB to ABB (“Reorganisation”).

The Reorganisation was completed on 16 October 2017 and ABB became the new bank holding company to Affin Islamic Bank Berhad (AiBB), Affin Hwang Investment Bank Berhad (AHIB), Affin Moneybrokers Sdn Bhd (AMB) and AXA Affin Life Insurance Berhad (AALI) while AXA Affin General Insurance Berhad (AAGI) is an associate company to ABB.

Pursuant to the Reorganisation, ABB subscribed 2 new AHB shares for RM2.00 and AHB became a wholly-owned subsidiary of ABB.

Rationale for the Winding-up

The Members' Voluntary Winding-up of AHB is to rationalise and streamline the ABB Group structure.

Effects of the Winding-up

The winding-up of AHB will not have any material effect on the earnings and net assets of the ABB Group for the financial year ending 31 December 2022.

This announcement is dated 27 January 2022.