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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.
| Type | Announcement |
| Subject | OTHERS |
| Description |
AFFIN BANK BERHAD (AFFIN OR THE COMPANY) (I) PROPOSED DISPOSAL OF 21.00% EQUITY INTEREST IN AXA AFFIN LIFE INSURANCE BERHAD (AALI) (PROPOSED AALI DISPOSAL); (II) PROPOSED DISPOSAL OF APPROXIMATELY 2.95% EQUITY INTEREST IN AXA AFFIN GENERAL INSURANCE BERHAD (AAGI) (PROPOSED AAGI DISPOSAL); AND (III) PROPOSED ACQUISITION BY AAGI OF CERTAIN ASSETS AND LIABILITIES OF MPI GENERALI INSURANS BHD (MPIG) VIA A BUSINESS TRANSFER TO AAGI (PROPOSED MERGER) (COLLECTIVELY REFERRED TO AS THE PROPOSALS) |
|
Unless otherwise defined, the abbreviations and definitions used throughout this announcement shall have the same meaning as those defined in the announcement dated 9 May 2022 in relation to the Proposals.
We refer to the announcement dated 9 May 2022.
On behalf of the Board of Directors of Affin, Affin Hwang Investment Bank Berhad wishes to announce that Affin has submitted an application for the proposed acquisition of 30.00% equity interest in a new local company to be incorporated to hold directly the entire equity interest in AALI and enlarged AAGI (which will be merged with MPIG pursuant to the Proposed Merger) to Bank Negara Malaysia pursuant to Section 85(1)(b) of the Financial Services Act 2013 and Paragraph 8.1(b)(i) of the Policy Documents on Equity Investments dated 24 December 2019 on 2 June 2022.
This announcement is dated 3 June 2022. |
|
| Company Name | AFFIN BANK BERHAD |
| Stock Name | AFFIN |
| Date Announced | 03 Jun 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-03062022-00016 |
Copyright 2020 Affin Bank Berhad 197501003274 (25046-T).
