maybe just share swap of the 10% new MBSB shares worth RM600mil authorised during AGM with AFB shares worth RM600mil

10% of MBSB paid-up capital to be authorized during AGM is about RM600mil, AFB valuation is also in the range of RM600mil... coincidence?

“Given Malaysia’s banking sector which has been trading below its five-year historical price-book value (PBV) of 1.3 times to 1.5 times, it is fair for MBSB to pay 1.1 times to 1.2 times premium of AFB’s first nine months of financial year 2016 (9MFY16) book value of RM500.1mil to obtain a full-bank licence, which would translate to a price of RM550mil-RM600mil,” said MIDF Research.

"strategic opportunity" mentioned in coming AGM Ordinary Resolution 11

The proposed Ordinary Resolution 11, if passed, will give powers to the Directors to issue new ordinary shares in the capital of the Company up to an aggregate amount not exceeding 10% of the paid-up share capital of the Company for the time being without having to convene a general meeting. This authority, unless revoked or varied at a general meeting, will expire at the next AGM.
The purpose of the proposed mandate from shareholders is to provide MBSB the flexibility to undertake any share issuance during the financial year that is not material in nature under exceptional circumstances i.e. in the event that any capital management requirement to meet the prudential compliance capital leverage ratio or strategic opportunities involving equity deals which may require the Company to allot and issue new shares on