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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 | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | AFFIN HOLDINGS BERHAD (“AFFIN”) PROPOSED ACQUISITION OF HWANGDBS INVESTMENT BANK BERHAD (“HWANG IB”) INCLUDING OTHER FINANCIAL SERVICES BUSINESSES OF HWANG-DBS (MALAYSIA) BERHAD (“PROPOSED ACQUISITION”) |
We refer to our announcements dated 15 April 2013 and 4 September 2013 on the Proposed Acquisition. On behalf of the Board of AFFIN, AFFIN Investment Bank Berhad ("AFFIN Investment") is pleased to announce that AFFIN has on 10 January 2014 received a letter from Bank Negara Malaysia (“BNM”) advising AFFIN that the Minister of Finance has granted its approvals under the Financial Services Act 2013 for the Proposed Acquisition and the merger of Hwang IB with AFFIN Investment.
In addition, the Securities Commission Malaysia has also on 10 January 2014 approved the Proposed Acquisition and the merger of Hwang IB and AFFIN Investment.
The terms and conditions of the Proposed Acquisition will be announced upon the execution of the conditional share purchase agreement for the Proposed Acquisition.
This announcement is dated 10 January 2014. |
|
| Company Name | AFFIN HOLDINGS BERHAD |
| Stock Name | AFFIN |
| Date Announced | 10 Jan 2014 |
| Category | General Announcement |
| Reference No | MI-140110-58116 |
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