Posted by TheContrarian > 2024-01-27 22:59 | Report Abuse

Official news is additional 15% stake to be sold. Some people just spreading bullshit about a takeover.

Posted by metaverse > 2024-01-28 00:35 | Report Abuse

Sarawak government is buying the banking group not for investment but strategic reasons so any price below NTA will be a good bargain for them. Affin Bank is a small bank but it's Investment Bank is not a small player but a big player in stock market.

Posted by metaverse > 2024-01-28 08:44 | Report Abuse

AffinHwang Asset Management was sold to world largest hedge fund CVC and AffinHwang Investment Bank, still owned by Affin Bank. Half of the AI chips produced by Nvidia shipped to Singapore and Singapore is buying Gigawatt of power supplies through undersea cable from Sarawak. When we put together all the information you can see something big is brewing behind the scenes. AffinHwang Investment Bank is the largest stockbroker in Malaysia with an established business network. Sarawak must shift to high gear to accumulate Affin Bank shares in the open market or else someone else will and eventually become a hostile takeover drama.

Posted by TheContrarian > 2024-01-28 09:16 | Report Abuse

Oh yes, it was the Asset Management company that was sold.

Posted by TheContrarian > 2024-01-28 09:22 | Report Abuse

The top 30 shareholders of Affin own 87.7%. There's not much free float in the open market.

Posted by TheContrarian > 2024-01-28 09:25 | Report Abuse

EPF is 4th largest shareholder at 6.5%, Sarawak 5th at 4.9%. The top three are LTAT, Bank of East Asia and Boustead.

Posted by TheContrarian > 2024-01-28 09:55 | Report Abuse

LTAT and Boustead currently owns close to 50% , so there's no way of an hostile takeover. The only takeover is one that's decided by the Federal government such as Maybank or CIMB or RHB or even MBSB taking over Affin. Then it will be done at a price of at least 1 time book value.

Posted by stockraider > 2024-01-28 10:30 | Report Abuse

There is no hostile takeover loh!
Whoever wants to buy substantial Affin bank, need friendly cooperations with LTAT loh!

Posted by TheContrarian > 32 minutes ago | Report Abuse

LTAT and Boustead currently owns close to 50% , so there's no way of an hostile takeover. The only takeover is one that's decided by the Federal government such as Maybank or CIMB or RHB or even MBSB taking over Affin. Then it will be done at a price of at least 1 time book value.

Posted by stockraider > 2024-01-28 10:32 | Report Abuse

Since ROE of Affin is low....mkt can only pay lower than book value which is about 0.7x of the book value loh!

Posted by metaverse > 2024-01-28 11:13 | Report Abuse

Affin Bank is the smallest bank in Malaysia so it is kind of interesting that it has attracted the attention of the Sarawak government. Sarawak is the most powerful state in Malaysia which is asking to increase their parliament seats to more than 30%. With this kind of political ambition it is unlikely that Sarawak will be pleased with only a five percent stake in Affin Banks.

Posted by stockraider > 2024-01-28 11:20 | Report Abuse

Swk can buy 20% stake in Affin Bank without BNM approval loh!
Beyond 20% they need BNM approval, i think if SWK govt really want to exceed 20%, they can easily obtained BNM approval mah!

I think the appropriate stake for SWK state is 20% n beyond loh!

Posted by metaverse > 3 minutes ago | Report Abuse

Affin Bank is the smallest bank in Malaysia so it is kind of interesting that it has attracted the attention of the Sarawak government. Sarawak is the most powerful state in Malaysia which is asking to increase their parliament seats to more than 30%. With this kind of political ambition it is unlikely that Sarawak will be pleased with only a five percent stake in Affin Banks.

Posted by metaverse > 2024-01-28 12:02 | Report Abuse

The political landscape of Malaysia has been dominated by Sarawak. Before the Unity Government (UG) was formed, DAP had to fly to Sarawak and ask for their apologies. When PN was trying to topple or so called Dubai Move, it was Abang Jo who kept UG alive and said NO to PN’s promise for him to become Prime Minister. With this kind of mighty force of political power, it is unlikely that Sarawak will be pleased with a mere 20% stake in Affin Bank. Affin Bank has a hidden gem. Those who can hostile takeover the banking group and spin off AffinHwang Investment Bank will get Affin Bank for free. Just like how Sarawak is running the political show to control the UG, Affin Bank is almost within the pocket of Abang Jo.

Posted by aklobi > 2024-01-28 13:11 | Report Abuse

Wow, great debate!

Posted by Bursino > 2024-01-28 18:06 | Report Abuse

Instincts tell me Affin Bank will declare Bonus issue 1:1. NTA 4.69. Current price hovering at 2.40. Ngam Ngam..

Posted by TheContrarian > 2024-01-28 19:31 | Report Abuse

@metaverse, how to do a takeover if there's no way to acquire 50% plus one share?

Posted by TheContrarian > 2024-01-28 19:35 | Report Abuse

@Busino, if Affin does a 1 for 1 bonus issue, price will be adjusted to RM1.20 and if later price drops below RM1 some funds are prohibited from buying shares below RM1.

Posted by Bursino > 2024-01-28 20:41 | Report Abuse

@TheContrarian
Your premise "UMNO will not allow LTAT to sell their controlling interest in Affin." As such you think, at the very best Sarawak will only invest in Affin.
1)BPlant. It was a Bersatu MPs that objected to the deal on LTAT selling their stakes to Non Malays.
2) Why should Sarawak invest in Affin? There are so many other Banks they can choose to invest. And Sarawak doesn't need to invest in Banks in order for the Banks to set up Branches in Sarawak.

My reading, the leaders in Sarawak want a controlling interest in a Bank. It is strategic and fits in with their grand design to consolidate the economic activities, develop and sustain the development of the state.

Posted by TheContrarian > 2024-01-28 20:45 | Report Abuse

Yes, Sarawak wants their own bank. On the other hand LTAT needs money to pay dividends to its members and since they couldn't sell down Boustead or Bplant, it's only Affin left that they could sell down.

Posted by TheContrarian > 2024-01-28 20:47 | Report Abuse

KLK take over offer of RM1.55 for Bplant was the best price. Eventually LTAT had to match that price and call off the deal with KLK. This further burden LTAT financially.

Posted by TheContrarian > 2024-01-28 20:49 | Report Abuse

Remember the official news is that Sarawak is buying additional 15% in Affin from LTAT. There's nowhere in any news report that Sarawak is taking over Affin. Only bullshit from some people.

Posted by TheContrarian > 2024-01-28 20:53 | Report Abuse

If people here wants to believe in the bullshit that Sarawak is taking over Affin then go ahead. Sarawak's first 4.9% stake was done at RM1.97. My own average cost in Affin is RM1.89. :-)

Posted by Bursino > 2024-01-28 21:02 | Report Abuse

Time is the essence and the federal government has provided bridging
loans. Money is no longer an issue.
LTAT is out of ICU and ventilators
taken off. LTAT can do wonders to raise money now
that Boustead and BPlant are taken private.

Posted by Bursino > 2024-01-28 21:05 | Report Abuse

Sir. It is uncouth to label all other speculations as cattle dung. Yours is as much a speculation.

Posted by TheContrarian > 2024-01-28 21:19 | Report Abuse

Hahahahahaha

Posted by TheContrarian > 2024-01-28 21:51 | Report Abuse

This article first appeared in The Edge Malaysia Weekly on January 8, 2024 - January 14, 2024

THE Sarawak State Financial Secretary is understood to be close to concluding a memorandum of understanding (MoU) which will lead to a deal to acquire an additional stake in Affin Bank Bhd from Lembaga Tabung Angkatan Tentera (LTAT).

At present, Sarawak has a 4.95% stake in the bank. The state bought the 112.56 million shares in mid-April last year at RM1.97 per share or RM221.74 million in total.


The Edge learns that Sarawak state is keen to acquire an additional 15% in Affin from the armed forces fund that has a direct 29.7% in the banking group while its wholly-owned unit Boustead Holdings Bhd has a 20.65% stake.

The talks for the MoU were more or less concluded late last year, according to sources. However, an agreement has yet to be signed.

Posted by Bursino > 2024-01-28 21:59 | Report Abuse

Hahahahahah

Posted by rohank71 > 2024-01-28 22:07 | Report Abuse

with LTATs 29% and BEAs 23%, Swak will get more than 50%. the price must be attractive for BEA and LTAT to sell. or else they will be stuck for longer term. Swak will undertake to pare down to lower stake at later date once Affin is restructured and ROI improves.

Posted by rohank71 > 2024-01-28 22:25 | Report Abuse

Few things for BNM to consider in allowing Swak to take above 50% in Affin are
1) is it better keeping Affin in LTAT or Swak
2) is it worth keeping BEA in Affin as major shareholder above 20% or allowing Swak to buy them out.
3) is it better to allow a large shareholder to restructure Affin or many shareholders and go nowhere.

Posted by TheContrarian > 2024-01-28 22:50 | Report Abuse

Looks like tomorrow Affin will go limit up.

Posted by TheContrarian > 2024-01-28 22:50 | Report Abuse

Better buy first thing in the morning.

Posted by TheContrarian > 2024-01-29 09:09 | Report Abuse

Quickly buy Affin!

Posted by rohank71 > 2024-01-29 12:37 | Report Abuse

https://theedgemalaysia.com/node/698883

mtg to brief Swak tomorrow?

Posted by aklobi > 2024-01-29 13:28 | Report Abuse

@TheContrarian, As we all know, your words carry a heavy weight amongst Affin investors (at least on this page). Last week, you have been very bearish on Affin and explicitly saying factors point to a lower price ahead, but you quickly flipped to calling for a quick buy. I personally (and I am sure many here) respect your words and I believe you owe us an explanation of what happened.

Posted by rohank71 > 2024-01-29 14:13 | Report Abuse

#aklobi.... he was just being sarcastic to my post... he didn't mean it. anyway, we all respect TheContrarians view as his points are valid, too based on public info.

Posted by TheContrarian > 2024-01-29 14:38 | Report Abuse

I have taken some profit on Affin this morning at 2.55. My average cost is only RM1.89, so as price rises I will continue to take profits. Whenever price retreat back to RM2 or below I will always buy back. This has always been my style of investing. Tomorrow evening an announcement is scheduled, might be on the sale of the 15% stake, hopefully price will be around RM2.50.

Posted by TheContrarian > 2024-01-29 14:39 | Report Abuse

Affin Bank is hosting its ‘Malaysia Market Outlook 2024 – Propelling Malaysia Forward’ on Tuesday at Menara Affin, Tun Razak Exchange in Kuala Lumpur with Abang Johari as its guest of honour alongside the bank’s president and chief executive officer Datuk Wan Razly Abdullah.

The bank is calling for a press conference at 3pm with the two guests of honour.

Posted by aklobi > 2024-01-29 15:27 | Report Abuse

We are witnessing the birth of a new era for Affin Bank. Congrats to all diehard Affin investors.

Posted by klee > 2024-01-29 16:39 | Report Abuse

Sarawak has RM20 bil reserves,it can afford to buy the full stake from LTAT.

Posted by klee > 2024-01-29 16:42 | Report Abuse

Imagine the possibilities if this become a sarawak controlled bank.

Posted by hhhiii123 > 2024-01-29 19:45 | Report Abuse

Never believe kenanga tp lol

Posted by TheContrarian > 2024-01-29 19:47 | Report Abuse

Kenanga owned by Cahya Mata Sarawak Bhd, Taib's company.

Posted by aklobi > 2024-01-29 21:09 | Report Abuse

@hhhii123, read above.. I said that earlier. I have been reading Kenanga research for almost 10 years, most of the time it gave weird or manipulated TPs.

Posted by hhhiii123 > 2024-01-29 21:17 | Report Abuse

i never sold, instead i hold, no worry lol

Posted by sg999 > 2024-01-29 21:27 | Report Abuse

TP RM3???????

Posted by hhhiii123 > 2024-01-29 21:34 | Report Abuse

if net asset per share is Rm4.50, then RM4 is possible, wkaka

Posted by sg999 > 2024-01-29 22:55 | Report Abuse

WHY？ i thought they just add share not buy over like bplant?

Posted by TheContrarian > 2024-01-30 08:25 | Report Abuse

https://www.dagangnews.com/article/benar-benar-menjadikah-kerajaan-negeri-sarawak-beli-affin-bank-34454

Posted by TheContrarian > 2024-01-30 08:29 | Report Abuse

Any stake higher than 20% needs prior approval from Bank Negara before negotiation can commence.

Posted by klee > 2024-01-30 10:37 | Report Abuse

told you all..

Posted by rohank71 > 2024-01-30 10:38 | Report Abuse

if Swak wants to do anything or ask anything, it must be this time. better ask for 51% vs just 20%