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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” OR THE “COMPANY”) PROPOSED ACQUISITION OF 10,000,000 ORDINARY SHARES OF RM1.00 EACH IN ASIAN ISLAMIC INVESTMENT MANAGEMENT SDN BHD (“AIIM”), REPRESENTING THE ENTIRE EQUITY INTEREST IN AIIM BY AFFIN HWANG ASSET MANAGEMENT BERHAD (FORMERLY KNOWN AS HWANG INVESTMENT MANAGEMENT BERHAD) (“AFFIN HWANG AM”) (“PROPOSED AIIM ACQUISITION”) |
Unless otherwise stated, abbreviations and definitions used throughout this announcement shall be the same as those previously defined in the announcements dated 22 January 2014, 14 August 2014 and 18 August 2014.
On behalf of the Board of Directors of AFFIN, Affin Investment wishes to announce that Affin Hwang AM has, on 19 September 2014 entered into the following agreements:
(i) shares sale and purchase agreement for the acquisition of 51% interest in AIIM from Nikko Asset Management Asia Limited for RM11,730,000 to be satisfied in cash; and
(ii) shares sale and purchase agreement for the acquisition of 49% interest in AIIM from Affin Hwang Investment Bank Berhad (formerly known as HwangDBS Investment Bank Berhad) ("Affin Hwang IB") for RM11,270,000 to be satisfied in cash
Affin Hwang AM is a 70% subsidiary of Affin Hwang IB, which is in turn a wholly-owned subsidiary of AFFIN. AIIM is a 49% associate company of Affin Hwang IB.
Please refer to the attachment for further details on the Proposed AIIM Acquisition.
This announcement is dated 19 September 2014.
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| Company Name | AFFIN HOLDINGS BERHAD |
| Stock Name | AFFIN |
| Date Announced | 19 Sept 2014 |
| Category | General Announcement |
| Reference No | MI-140919-64619 |
Attachments
Copyright 2020 Affin Bank Berhad 197501003274 (25046-T).
