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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" or "Company") PROPOSED ESTABLISHMENT OF AFFIN INVESTMENT BANKING GROUP |
AFFIN Investment had earlier, on 14 December 2006, entered into the Business Transfer Agreement ("BTA") with AFFIN Securities to acquire certain assets and liabilities of AFFIN Securities for a cash purchase consideration of RM103.53 million.
All the requisite approvals required for the transfer of Stockbroking Business had been obtained.
The transfer of Stockbroking Business is made pursuant to the Guidelines on Investment Banks jointly issued by Bank Negara Malaysia and the Securities Commission on 1 July 2005, that provide for, amongst others, the creation of investment banks.
The BTA is made available for inspection at the Company's registered office at 7th Floor, Chulan Tower, No. 3 Jalan Conlay, 50450 Kuala Lumpur from Monday to Friday (except public holiday) during business hours for a period of two (2) weeks from the date of this announcement.
This announcement is dated 10 January 2007.
| Company Name | AFFIN HOLDINGS BERHAD |
| Stock Name | AFFIN |
| Date Announced | 10 Jan 2007 |
| Category | General Announcement |
| Reference No | CC-070110-49042 |
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