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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 | AFFIN HOLDINGS BERHAD ("AFFIN") PROPOSED ACQUISITION OF THE LIFE INSURANCE BUSINESS OF TAHAN INSURANCE MALAYSIA BERHAD ("PROPOSED ACQUISITION") |
The Board of AFFIN wishes to announce that Bank Negara Malaysia had notified vide its letter dated 19 January 2006 that the Minister of Finance had approved the proposed transfer of the life insurance business of Tahan Insurance Malaysia Berhad ("Life Business") for a total consideration of RM121 million to AXA AFFIN Life Insurance Berhad, a joint venture company to be incorporated by AFFIN (51%) and AXA Asia Pacific Holdings Limited (49%) which will thereafter operate the Life Business.
This announcement is dated 20 January 2006.
| Company Name | AFFIN HOLDINGS BERHAD |
| Stock Name | AFFIN |
| Date Announced | 20 Jan 2006 |
| Category | General Announcement |
| Reference No | CC-060120-61299 |
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