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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 | APPROVAL TO COMMENCE NEGOTIATIONS |
| Contents | The Board of Directors ("Board") of AFFIN Holdings Berhad ("AHB") wishes to announce that Bank Negara Malaysia ("BNM") had vide its letter dated 14 January 2010 granted its approval for AHB to commence negotiations with the existing shareholders of PT Bank Ina Perdana ("Bank Ina"), Indonesia for a possible acquisition of a controlling stake in Bank Ina ("Proposal"). The necessary approvals of BNM will be sought should AHB intends to proceed with the Proposal upon conclusion of the negotiation. The Board has considered Indonesia to be the first overseas venture for the Group which is seen to have significant growth potential given that Indonesia is the fourth most populous nation in the world and the banking penetration remains low. The Board expects negotiations to commence soon and further announcement will be made to Bursa Malaysia Securities Berhad on the development at the appropriate time. This announcement is dated 15 January 2010. |
| Company Name | AFFIN HOLDINGS BERHAD |
| Stock Name | AFFIN |
| Date Announced | 15 Jan 2010 |
| Category | General Announcement |
| Reference No | CC-100115-59807 |
Copyright 2020 Affin Bank Berhad 197501003274 (25046-T).
