Investor Relations


The Affin Bank Group is a financial services conglomerate. The Group's activities focus on commercial, Islamic and investment banking services, money broking, asset management and underwriting of life and general insurance business.

Others

Type Announcement
Subject OTHERS
Description AFFIN HOLDINGS BERHAD (“AFFIN” OR THE “COMPANY”)
(I) ACQUISITION BY AFFIN OF 500,000,000 ORDINARY SHARES OF RM1.00 EACH, CONSTITUTING 100% OF THE ISSUED AND PAID-UP SHARE CAPITAL IN HWANGDBS INVESTMENT BANK BERHAD (NOW KNOWN AS AFFIN HWANG INVESTMENT BANK BERHAD (“AFFIN HWANG IB”)) AFTER THE COMPLETION OF THE PRE-CLOSING REORGANISATION FROM HWANG CAPITAL (MALAYSIA) BERHAD (FORMERLY KNOWN AS HWANG-DBS (MALAYSIA) BERHAD) AND THE ACQUISITION OF 1,700,000 ORDINARY SHARES OF RM1.00 EACH, CONSTITUTING 17% OF THE ISSUED AND PAID-UP SHARE CAPITAL IN HWANG INVESTMENT MANAGEMENT BERHAD (NOW KNOWN AS AFFIN HWANG ASSET MANAGEMENT BERHAD (“AFFIN HWANG AM”)) HELD BY Y.A.M. TUNKU DATO’ SERI NADZARUDDIN IBNI ALMARHUM TUANKU JA’AFAR (“ACQUISITION”);
(II) MERGER OF THE BUSINESS, ASSETS AND LIABILITIES OF AFFIN INVESTMENT BANK BERHAD (“AFFIN INVESTMENT”) WITH THAT OF AFFIN HWANG IB (“PROPOSED IB MERGER”); AND
(III) MERGER OF THE BUSINESS, ASSETS AND LIABILITIES OF AFFIN FUND MANAGEMENT BERHAD TO AFFIN HWANG AM (“PROPOSED IM MERGER”)
(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

 

Unless otherwise stated, abbreviations and definitions used throughout this announcement shall be the same as those previously defined in the announcement dated 22 January 2014.

 

We refer to the announcements dated 22 January 2014, 7 April 2014, 3 June 2014, 13 August 2014, 14 August 2014, 18 August 2014 and 26 August 2014 in relation to the Proposals.

 

On behalf of the Board of AFFIN, AFFIN Hwang Investment Bank Berhad (formerly known as HwangDBS Investment Bank Berhad) (“AFFIN Hwang IB”) wishes to announce that the mergers of the following companies have been completed on 20 September 2014 (“Effective Date”): 

  1. the transfer of the entire business, including all assets (excluding Merchant Nominees (Tempatan) Sdn Bhd, Classic Precision Sdn Bhd and AFFIN Fund Management Berhad) and liabilities of AFFIN Investment to AFFIN Hwang IB;

  2. the transfer of the entire business, including all assets and liabilities of AFFIN Nominees (Tempatan) Sdn Bhd to AFFN Hwang Nominees (Tempatan) Sdn Bhd (formerly known as HDM Nominees (Tempatan) Sdn Bhd);  

  3. the transfer of the entire business, including all assets and liabilities of AFFIN Nominees (Asing) Sdn Bhd to AFFIN Hwang Nominees (Asing) Sdn Bhd (formerly known as HDM Nominees (Asing) Sdn Bhd); and

  4. the transfer of the entire business, including all assets and liabilities of AFFIN Fund to AFFIN Hwang Asset Management Berhad (formerly known as Hwang Investment Management Berhad). 

Pursuant thereto, AFFIN Investment will be surrendering its banking licence to BNM. In addition, AFFIN Investment and AFFIN Fund will also be surrendering their respective Capital Markets Services Licence within 14 days from the Effective Date pursuant to section 78(1) and 81 of the Capital Markets and Services Act 2007 pursuant to the completion of the said mergers.

 

This announcement is dated 22 September 2014.

 


Announcement Info

Company Name AFFIN HOLDINGS BERHAD  
Stock Name AFFIN    
Date Announced 22 Sept 2014  
Category General Announcement
Reference No OD-140922-64152