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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 (“HWANG-DBS”) (“PROPOSED ACQUISITION”) |
We refer to our earlier announcement dated 5 February 2014.
On behalf of the Board of AFFIN, AFFIN Investment Bank Berhad wishes to announce that the Securities Commission Malaysia has vide its letter dated 3 March 2014 granted its approval for the exemption to AFFIN from the obligation to undertake a mandatory offer for the remaining 30% voting shares in Hwang Investment Management Berhad not already owned by AFFIN (via Hwang IB) after the Proposed Acquisition under paragraph 20.1 of Practice Note 9 of the Malaysian Code on Take-Overs and Mergers 2010.
This announcement is dated 4 March 2014.
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| Company Name | AFFIN HOLDINGS BERHAD |
| Stock Name | AFFIN |
| Date Announced | 4 Mar 2014 |
| Category | General Announcement |
| Reference No | MI-140304-48330 |
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