Investor Relations


The Affin Bank Group is a financial services conglomerate. The Group's activities focus on commercial, Islamic and investment banking services, money broking, asset management and underwriting of life and general insurance business.

Proposed Establishment Of Affin Investment Banking Group

Type

Announcement
Subject AFFIN HOLDINGS BERHAD ("Affin")
PROPOSED ESTABLISHMENT OF AFFIN INVESTMENT BANKING GROUP

Contents :

The Board of Directors is pleased to announce that the Minister of Finance, vide the letter dated 20 April 2006 issued by Bank Negara Malaysia ("BNM") and the Securities Commission ("SC"), has approved the establishment of the Affin investment banking group ("Proposal") pursuant to the Banking and Financial Institutions Act, 1989 and the Securities Commission Act, 1993, subject to certain conditions therein.


The establishment of the Affin investment banking group would involve the three wholly-owned subsidiaries of Affin, namely Affin Merchant Bank Berhad ("AMBB"), Affin Securities Sdn Bhd and Affin Discount Berhad.

The approval from BNM was also obtained for inter alia, the proposed acquisition by AMBB from Affin of 100% equity interest in Affin Fund Management Sdn Bhd and its subsidiary Affin Trust Management Berhad.

The aproval of the SC on behalf of the Foreign Investment Committee ("FIC") was also obtained for the Proposal, under the FIC's Guidelines on Acquisition of Interests, Mergers and Take-overs by Local and Foreign Interests.

This announcement is dated 25 April 2006.

 


Announcement Info

Company Name AFFIN HOLDINGS BERHAD  
Stock Name AFFIN    
Date Announced 25 Apr 2006  
Category General Announcement
Reference No CC-060425-58622