Posted by klee > 2024-02-05 12:01 | Report Abuse

The smallest bank in msia,mbsb is trading at 0.61 times book.How much would affin be worth now that sarawak may take over the driving seat? certainly it cant be as low as rm 2.5. 0.61 times of RM 4.69 is RM 2.89....that shud be affin minimum price

Posted by klee > 2024-02-05 12:02 | Report Abuse

relax je....

Posted by klee > 2024-02-05 12:04 | Report Abuse

further affin pe is 11 times n mbsb is 15 times

Posted by aklobi > 2024-02-05 12:07 | Report Abuse

Still monitoring.. waiting for the right price.

Posted by beluga > 2024-02-05 12:12 | Report Abuse

I believe that the purchase consideration for Affin Bank (ABB) is going to represent an average PBR of 1.3 times (with minimum 0.90). Coincidentally, BEA invested in ABB at 1.3 PBR times in 2007. It is my humble opinion. It is fine that you think it's a crazy valuation from me. We can agree to disagree. Everyone is entitled to their opinion.

Basis of and Justification for the Price Book Ratio (PBR) : precedent transactions involving the acquisition of financial institutions listed in Malaysia as below

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=226950&name=EA_DS_ATTACHMENTS

(page 8 : refer to 20/313).

Selected precedent transactions involving the acquisition of financial institutions listed in Malaysia PBRs ranging from 0.93 times to 2.35 times over the last 15 years from 2007 are as follows:

2013 Bank Islam Malaysia Berhad BIMB Holdings Berhad 1.88

2008 Bank Muamalat Malaysia Berhad DRB-Hicom Berhad 2.15

2018 Asian Finance Bank Berhad MBSB 1.30

2013 Hwang DBS Affin Holdings 1.28

2012 OSK Investment Bank Berhad RHB Capital Berhad 1.77

2012 ECM Libra Investment Bank Berhad Kenanga Investment Bank Berhad 1.27

2011 RHB Capital Berhad Aabar Investments 2.35

2011 EON Capital Berhad Hong Leong Bank Berhad 1.42

2008 EON Capital Berhad Primus Pacific Partners 2.21

2008 RHB Capital Berhad Abu Dhabi Commercial Bank 2.18

2007 Affin Holdings Bank of East Asia 1.30


2007 MIDF PNB 0.93

2007 RHB Capital Berhad Employees Provident Fund of Malaysia 1.76

2007 AMMB Holdings Berhad Australia and New Zealand Banking Group 1.29

Posted by klee > 2024-02-05 12:14 | Report Abuse

Controlling stake does carry a huge premium.

Posted by aklobi > 2024-02-05 12:17 | Report Abuse

When will there be a final decision?

Posted by metaverse > 2024-02-05 12:19 | Report Abuse

Abang Jo will provide the floor support at 2.4 and this strong support level at 2.4 is highly visible on technical chart but the price action is telling more story either Sarawakian billionaires are collecting the share to beef up their control on this banking group or some other professional corporate raiders linked to top bankers such as Quek Leng Chan, Chua Ma Yu, Tong Kooi Ong also interested in this banking group so those who are late to the party it looks like the night is still young 😁

Posted by klee > 2024-02-05 12:29 | Report Abuse

And when sarawak is in control,they will keep affin listed,in order to tap the capital market for the humongous development in RE (dams) coming up.Affin is going into the big league.

Posted by metaverse > 2024-02-05 12:47 | Report Abuse

Unless PMX intervened in the free market, the takeover deal should be priced within this range 2011 EON Capital Berhad Hong Leong Bank Berhad 1.42 and 2008 EON Capital Berhad Primus Pacific Partners 2.21 because when come to hostile takeover game, no one can match Quek Leng Chan and I will be shocked if the king of M&A not interested in Affin Bank as 2.4 is a considered buy one free one as AffinHwang Investment Bank is a top brokerage in town which will give HL brokerage an immediate boost and totally in control of the brokerage landscape😁

Posted by klee > 2024-02-05 12:52 | Report Abuse

the more interested the merrier...

Posted by klee > 2024-02-05 12:53 | Report Abuse

btw the issue of pmx interferring doesnt exist,if sarawak wants,pmx will give...except 100% oil revenue lolz

Posted by klee > 2024-02-05 12:54 | Report Abuse

Without sarawak Gps support,i wonder where pmx is now.

Posted by aklobi > 2024-02-05 12:58 | Report Abuse

When is a final announcement expected?

Posted by klee > 2024-02-05 13:04 | Report Abuse

aklobi,Bnm submission was made early jan 24,we shud get an answer sooner

Posted by klee > 2024-02-05 16:07 | Report Abuse

buy more 2.49

Posted by beluga > 2024-02-05 16:10 | Report Abuse

"The Premier of Sarawak added that the process of hiring another entity, which is the transaction of increasing the state government’s shares in Affin Bank, is also going smoothly."

https://ukas.sarawak.gov.my/2024/02/05/sarawak-has-complete-ingredient-to-boost-economy/?fbclid=IwAR1QdNkGUwIQZEyys_n81pARAP0fb7dJ4A99x2L4NWO0A9npzYqnSSZGdIc

Posted by klee > 2024-02-05 16:19 | Report Abuse

https://www.malaymail.com/news/malaysia/2024/02/05/sarawak-to-have-own-commercial-bank-by-end-february-says-premier/116451

Posted by metaverse > 2024-02-05 16:39 | Report Abuse

Abang Jo will not spend billion without taking control of the bank or else the money will be as good as throw the money to Kajang River which is the longest river in Malaysia. Abang Jo will provide the floor support at 2.4 and this strong support level at 2.4 is highly visible on technical chart but the price action is telling more story either Sarawakian billionaires are collecting the share to beef up their control on this banking group or some other professional corporate raiders linked to top bankers such as Quek Leng Chan, Chua Ma Yu, Tong Kooi Ong also interested in this banking group so those who are late to the party it looks like the night is still young 😁

Posted by beluga > 2024-02-05 16:42 | Report Abuse

Sarawak to have own commercial bank by end February, says premier.

Feb 5 — Sarawak Premier Tan Sri Abang Johari Openg today said the state government is expected to complete the acquisition of majority shares of a commercial bank by this month.

He said the state government is in the final stage of negotiation.

“Pray that we will have our own commercial bank some time this month when we will take over a commercial bank where the majority of the blocks will be owned by Sarawakians,” he said at the Centre of Technology Excellence Sarawak graduation ceremony here.

https://www.malaymail.com/news/malaysia/2024/02/05/sarawak-to-have-own-commercial-bank-by-end-february-says-premier/116451

Posted by metaverse > 2024-02-05 16:52 | Report Abuse

I pray the king of M&A Quek Leng Chan don't disappoint me...I would be shocked if Quek Leng Chan, Chua Ma Yu, Tong Kooi Ong or even Peter Lim don't interested in Affin Bank as 2.4 is unbelievable 😁

Posted by klee > 2024-02-05 16:56 | Report Abuse

Just let sarawak grow this bank ,with its abundance of cheap RE originating from the many dams ,even spore is trading with the state in exchange for them setting up data centres in sarawak.

Posted by klee > 2024-02-05 16:56 | Report Abuse

This is a marathon,as they say. :)

Posted by metaverse > 2024-02-05 17:05 | Report Abuse

Why the outgoing CEO tipoff the market the takeover price by Abang Jo is 2.4 so is he happy or not happy with the 2.4 takeover price? The answer is clear so unless the shares is officially transferred to the CDS account of Sarawak government or else it is more likely that the CEO is trying to heat up the price war and extract the best value for the public member of LTAT. It highly out of the norm that a resignation letter will include sensitive info such as the takeover price of 2.4 sighted by The Edge so for those who is late to the party the night is still young😁

Posted by klee > 2024-02-05 17:15 | Report Abuse

any other parties want join in the bidding also needs BNM approval,if sarawak wants this bank BNM will block all other parties to bid cos GPS is a major ally of PMX

Posted by klee > 2024-02-05 17:16 | Report Abuse

Sarawak wants,PMX will give :)

Posted by klee > 2024-02-05 17:19 | Report Abuse

Anyway A Jo only emphasizes on getting the commercial bank.He may want to dispose of the broking arm,in that case affin will be cash rich n a special dividend is possible.

Posted by metaverse > 2024-02-05 17:29 | Report Abuse

Try to google "quek leng chan hostile takeover" today MY ARTICLE or WRITEUP will come out in the top search with a summary saying "Quek Leng Chan was trying to launch a hostile takeover of Bank of East Asia and it cannot be a coincidence that BEA is holding a big block of shares in Affin ..." Hopefully Tan Sri will google today and somehow see my message to consider to launch a hostile takeover. 😁

https://i.postimg.cc/Ss6Z92SC/Quek-Leng-Chan.jpg

note: you have to zoom in the photo to see a clearly picture

Posted by TheContrarian > 2024-02-05 17:58 | Report Abuse

Quek Leng Chan announced that he intends to make a hostile takeover of Affin but refuses to disclose the takeover price.

Posted by Bursino > 2024-02-05 19:16 | Report Abuse

Hostile takeover? He better look after HLB watching out for predators!

Posted by Bursino > 2024-02-05 19:18 | Report Abuse

Where is Phileo Allied Bank?

Posted by hhhiii123 > 2024-02-05 19:36 | Report Abuse

Tomorrow limit up?

https://www.chinapress.com.my/20240205/%e7%a0%82%e6%94%bf%e5%ba%9c%e8%a6%81%e5%bd%93%e8%89%be%e8%8a%ac%e5%a4%a7%e8%82%a1%e4%b8%9c-%e6%94%be%e7%9c%bc1%e4%b8%aa%e6%9c%88%e5%86%85%e6%8e%a5%e7%ae%a1/

Posted by klee > 2024-02-05 20:25 | Report Abuse

When Bnm gives approval affin shud exceed rm3.

Posted by klee > 2024-02-05 20:26 | Report Abuse

As stated before even the smallest bank mbsb trades at 0.61 times book

Posted by beluga > 2024-02-06 06:35 | Report Abuse

“Like I mentioned earlier in Kuala Lumpur, we have an interest in Affin Bank and the discussions have been conclusive. It is just a matter of formality from Bank Negara Malaysia and we are going to be the block shareholder,”

https://www.theborneopost.com/2024/02/05/swak-aims-to-be-block-shareholder-in-affin-bank-says-premier/

Posted by 5354_ > 2024-02-06 09:28 | Report Abuse

If Sarawak govn buy more and own >5% why Bursa no announcement? If they sell yes no need to announce.

Posted by cheated > 2024-02-06 10:03 | Report Abuse

Sarawak govn always said like Affin how they show they buy more?

Posted by cheated > 2024-02-06 10:07 | Report Abuse

LTAT CEO why must resign if sell Affin to Abang Jo close to NTA?

Posted by beluga > 2024-02-06 11:36 | Report Abuse

https://www.youtube.com/watch?v=l6-NRV513ow&ab_channel=TVS

Posted by aklobi > 2024-02-06 13:36 | Report Abuse

Too much volatility I don't recognise the stock anymore lol

Posted by TheContrarian > 2024-02-06 14:14 | Report Abuse

Affin not likely to fall below 2.40 in the near term.

Posted by aklobi > 2024-02-06 15:15 | Report Abuse

@TheContrarian, how about the medium term?

Posted by TheContrarian > 2024-02-06 15:23 | Report Abuse

There will be pressure on Affin to expand into Sarawak. There will be huge capital layout opening new branches, setting up of ATM/Cash Deposit kiosks, moving into rural areas. Frankly, I don't like the medium term.

Posted by aklobi > 2024-02-06 20:53 | Report Abuse

@TheContrarian well said.

Posted by rohank71 > 2024-02-06 23:02 | Report Abuse

https://www.malaymail.com/amp/news/malaysia/2024/02/05/sarawak-to-have-own-commercial-bank-by-end-february-says-premier/116451

Posted by rohank71 > 2024-02-06 23:02 | Report Abuse

another 16 market days to go.

Posted by speakup > 2024-02-07 07:42 | Report Abuse

probably will change Affin name to Sarawak Bank Bhd. LOL!

Posted by stockraider > 2024-02-07 08:52 | Report Abuse

Block shareholders means SWK Govt going to hold 30% n above loh!

Posted by beluga > 1 day ago | Report Abuse

“Like I mentioned earlier in Kuala Lumpur, we have an interest in Affin Bank and the discussions have been conclusive. It is just a matter of formality from Bank Negara Malaysia and we are going to be the block shareholder,”

https://www.theborneopost.com/2024/02/05/swak-aims-to-be-block-shareholder-in-affin-bank-says-premier/

Posted by 5354_ > 2024-02-07 09:39 | Report Abuse

If follow banking law strictly maximum allow is 20% Swk govn can own Affin. If follow politics maybe can because without Sarawak govn support; PM-X no more PM?

Posted by 5354_ > 2024-02-07 09:50 | Report Abuse

speakup while we not agree on MBSB or BIMB better bank to buy but I agree with you GE15 is my last GE support for PH. No more PH for me in GE16.