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.

Material Litigation

Type Announcement
Subject MATERIAL LITIGATION
Description AFFIN HOLDINGS BERHAD ("AHB" or the "Company")
KUALA LUMPUR HIGH COURT SUIT
BSNC CORPORATION BERHAD (“BSNC”) VS AHB AND AFFIN BANK BERHAD (“ABB”)

 

The Company refers to its announcement dated 17 March 2009 in respect of the above claim by BSNC. The above action was referred to mediation at the Kuala Lumpur High Court. Arising from the mediation conducted on 25 March 2011, without admission of liability but in order to bring this long-outstanding dispute to an end, ABB is to pay RM70 million to BSNC (“Mediation Sum”) on or before 31 May 2011 in full and final settlement of all BSNC’s claims. BSNC has agreed that upon the payment of the Mediation Sum, it shall have no further claims whatsoever against AHB and ABB. The settlement was recorded in the Kuala Lumpur High Court on 31 March 2011.

 

This announcement is dated 1 April 2011.

 

 

 


Announcement Info

Company Name AFFIN HOLDINGS BERHAD  
Stock Name AFFIN    
Date Announced 1 Apr 2011  
Category General Announcement
Reference No CC-110401-52642