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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") DISPOSAL OF 21.00% EQUITY INTEREST IN AXA AFFIN LIFE INSURANCE BERHAD; DISPOSAL OF APPROXIMATELY 2.95% EQUITY INTEREST IN AXA AFFIN GENERAL INSURANCE BERHAD ("AAGI"); AND PROPOSED ACQUISITION BY AAGI OF CERTAIN ASSETS AND LIABILITIES OF MPI GENERALI INSURANS BERHAD ("MPIG") VIA A BUSINESS TRANSFER TO AAGI ("PROPOSED MERGER") |
|
We refer to the announcements dated 22 June 2021, 30 June 2021, 9 May 2022, 18 May 2022, 19 May 2022, 22 August 2022, 30 August 2022, 9 December 2022 and 3 March 2023.
On behalf of the Board of Directors of Affin, Affin Hwang Investment Bank Berhad wishes to announce that the High Court of Malaya has today, pursuant to Section 102(3) of the Financial Services Act 2013, granted an order confirming the business transfer scheme for the purpose of the Proposed Merger. Pursuant thereto, the Proposed Merger will complete at 0001 hours on 1 April 2023 whereupon MPIG’s general insurance business (save for certain excluded assets and liabilities) will be transferred from MPIG to, and be vested in, AAGI.
This announcement is dated 22 March 2023. |
|
| Company Name | AFFIN BANK BERHAD |
| Stock Name | AFFIN |
| Date Announced | 22 Mar 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-22032023-00052 |
Copyright 2020 Affin Bank Berhad 197501003274 (25046-T).
