We refer to our earlier announcement dated 25 March 2016 in respect of the above and the article that appeared in the Star website on 23 September 2016 titled ‘FGV sells insurance stake for RM70 mil’ (“Article”) which states that, amongst others, Felda Global Ventures Holdings Berhad has agreed to dispose of its 16% stake in AAGI to AFFIN for more than RM70mil.

On behalf of the Board of Directors of AFFIN, Affin Hwang Investment Bank Berhad wishes to clarify that negotiations between AFFIN, AXA Asia and Felda Marketing Services Sdn Bhd are still on-going as at the date of this announcement.

In view of the above, AFFIN had submitted an application to Bank Negara Malaysia for an extension of time from 24 September 2016 to 31 December 2016 for AFFIN and AXA Asia to conclude negotiations with Felda Marketing Services Sdn Bhd in relation to the Proposal.

We will make further announcements as and when there are material developments pertaining to the Proposal.

This announcement is dated 23 September 2016