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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 LIFE INSURANCE BUSINESS OF TAHAN INSURANCE MALAYSIA BERHAD ("LIFE BUSINESS") ("PROPOSED ACQUISITION") · PROPOSED JOINT VENTURE BETWEEN AFFIN AND NATIONAL MUTUAL INTERNATIONAL PTY LTD ("AXA") A WHOLLY-OWNED SUBSIDIARY OF AXA ASIA PACIFIC HOLDINGS LIMITED, IN RELATION TO THE PROPOSED ACQUISITION OF THE LIFE INSURANCE BUSINESS OF TAHAN INSURANCE MALAYSIA BERHAD ("PROPOSED JV") |
In this regard, the Board of Directors of AFFIN wishes to announce that Bank Negara Malaysia had vide its letter dated 9 May 2006 stated that it has no objection for AFFIN to embark on a joint-venture with AXA Asia Pacific Holdings Limited ("AXA") on a 51% (AFFIN) : 49% (AXA) basis, upon acquiring the life insurance business from Tahan Insurance Malaysia Berhad.
| Company Name | AFFIN HOLDINGS BERHAD |
| Stock Name | AFFIN |
| Date Announced | 9 May 2006 |
| Category | General Announcement |
| Reference No | CC-060509-62124 |
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