Reference is made to the announcement dated 16 February 2017 in relation to the above (“Announcement”). Unless otherwise defined, all the abbreviations and definitions used in this announcement shall have the same meaning as the words and expressions used in the Announcement.

On behalf of the Board of Directors of AHB, AFFIN Hwang Investment Bank Berhad (“AFFIN Hwang IB”) wishes to announce that Bank Negara Malaysia (“BNM”) had in its letter dated 13 July 2017, informed the Company that the Minister of Finance, Malaysia (“MOF”) and/or BNM, as the case may be, has approved the Proposed Reorganisation, Proposed Distribution and Proposed Subscription pursuant to the Financial Services Act 2013 and the Islamic Financial Services Act 2013. The approvals are subject to AHB obtaining the necessary approvals from other regulatory authorities, including the Securities Commission Malaysia ("SC") with regard to the Proposed Reorganisation.

Further to the above, we also wish to announce that the SC had also approved the proposal for a change in the ultimate shareholder of AFFIN Hwang IB, AFFIN Hwang Asset Management Berhad and AIIMAN Asset Management Sdn Bhd via its letter dated 14 July 2017 pursuant to the Proposed Reorganisation. 

This announcement is dated 14 July 2017.