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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 | OTHERS |
| Description | Subject : AFFIN HOLDINGS BERHAD (“AFFIN” OR THE “COMPANY”) CESSATION OF NEGOTIATIONS IN RELATION TO THE PROPOSED ACQUISITION OF UP TO 24.0% EQUITY INTEREST IN PT BANK PANIN SYARIAH TBK (“BANK PANIN SYARIAH”) (“PROPOSED ACQUISITION”) |
We refer to our announcement dated 28 February 2014.
On behalf of the Board of Directors, we wish to announce that AFFIN will not proceed with the negotiations with Bank Panin Syariah with regards to the Proposed Acquisition. This is in view that Bank Panin Syariah had on 19 May 2014 entered into an arrangement with Dubai Islamic Bank PJSC to jointly manage and operate Bank Panin Syariah and become a substantial shareholder in Bank Panin Syariah.
This announcement is dated 30 May 2014.
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| Company Name | AFFIN HOLDINGS BERHAD |
| Stock Name | AFFIN |
| Date Announced | 30 May 2014 |
| Category | General Announcement |
| Reference No | AH-140530-62007 |
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