We refer to the announcements dated 22 June 2021, 30 June 2021, 9 May 2022, 18 May 2022, 19 May 2022 and 22 August 2022 in relation to the Proposals (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board of Directors of Affin, Affin Hwang Investment Bank Berhad wishes to announce that the AALI Disposal and AAGI Disposal have been completed today pursuant to the terms of the Affin SSA. 

With the completion of the AALI Disposal and AAGI Disposal, Affin had today also entered into the following agreements:

(i) a shareholders’ agreement with Generali Asia and AAGI for the purpose of regulating the affairs of AAGI and the respective rights and obligations of Affin and Generali Asia, between themselves, as shareholders of AAGI;

(ii) a shareholders’ agreement with Generali Asia and AALI for the purpose of regulating the affairs of AALI and the respective rights and obligations of Affin and Generali Asia, between themselves, as shareholders of AALI;

(iii) a 15-year bancassurance distribution agreement with AAGI for the distribution of the general insurance products through Affin’s channels in Malaysia; and

(iv) a 15-year bancassurance distribution agreement with AALI for the distribution of the life insurance products through Affin’s channels in Malaysia.

This announcement is dated 30 August 2022.