Posted by TheContrarian > 3 weeks ago | Report Abuse

BEA merely selling some of the shares received from the DRP which was issued at issuing price of RM2.176.

Posted by TheContrarian > 3 weeks ago | Report Abuse

Took further profits at 2.48.

Posted by TheContrarian > 2 weeks ago | Report Abuse

Sold balance of Affin at 2.59.

Posted by beluga > 2 weeks ago | Report Abuse

Premier says deal to take over majority shares in a bank to be formalised on July 19
BY JUDE TOYAT ON JULY 5, 2024, FRIDAY AT 6:00 PM

KUCHING (July 5): Sarawak Premier Datuk Patinggi Abang Johari Tun Openg has hinted at an official signing ceremony to acquire a majority stake in a bank, most likely to be the long-speculated Affin Bank, this July 19.
While he did not specifically name the bank, Abang Johari said that Sarawak is set to take over a major financial block, positioning itself as a dominant player in Malaysia’s banking industry.

“There is no more secrecy. By then, we will officially sign to take over this major block, which includes substantial shares, soon, July 19,” he said in a press conference during the Amanah Saham Sarawak (Assar) dividend announcement at Hikmah Exchange Event Centre here today.

Abang Johari noted that this acquisition symbolises Sarawak reclaiming its former assets.
“We once lost what we had, and now we are taking it back. Previously, we had six banks taken from us, and now we are reclaiming them. Now we even have our own bank.

“The bank we are acquiring is bigger than those six banks, and we aim to become a dominant player in Malaysia’s banking business.

“Sarawak will play a crucial role, God willing, and this is reflected in our investment portfolio, which aims to boost Sarawak’s economy significantly,” he said.

https://www.theborneopost.com/2024/07/05/premier-says-deal-to-take-over-majority-shares-in-a-bank-to-be-formalised-on-july-19/

Posted by TheContrarian > 2 weeks ago | Report Abuse

Posted by TheContrarian > 2024-03-01 19:04 | Report Abuse

Defense Minister is asking for a higher price from Sarawak of RM2.60 per share or else there's no approval. Those LTAT people who negotiated a price of RM2.40 have since resigned.

Price possibly RM2.60 ?????

Posted by beluga > 2 weeks ago | Report Abuse

RULE 9 ANNOUNCEMENT AND NOTICES

9.05 Announcements to be made by the offeror or potential offeror

(1) Before the board of the offeree is approached, the responsibility for making an announcement will normally rest with the offeror or potential offeror.

(2) The offeror or potential offeror should keep a close watch on the offeree share price and volume for signs of undue movement and must make an announcement–

(a) when, before the board of the offeree is approached, the offeree is the subject of rumour or speculation about a possible offer, or there is undue movement in its share price or a significant increase in the volume of share turnover, and there are reasonable grounds for concluding that it is the offeror or potential offeror’s actions which have directly contributed to the situation;

(b) where negotiations or discussions are about to be extended to include more than a very restricted number of people (outside those who need to know or are involved at that stage of the discussion and their immediate advisers) ;

(c) upon the signing of the sale and purchase agreement for the voting shares or voting rights of the offeree which will lead to the acquirer being obliged to extend a mandatory offer obligation.


9.07 Possible offer announcement (1) When an announcement is required to be made pursuant to subparagraphs 9.05(2) and 9.06(2)(b) to (d), but the intention to make an offer is premature or have not been firmed up, the offeror, potential offeror or offeree is required to make a brief announcement that negotiations are taking place

RULE 3 ADVISERS

3.01 An adviser must comply with all requirements under the Code and the Rules, and ensure that it explains to its client and its directors, their respective responsibilities under these Rules and the Code and use all reasonable effort to ensure that the client and its directors comply with these Rules and the Code. In cases of doubt, the SC must be consulted.

Posted by beluga > 2 weeks ago | Report Abuse

https://www.facebook.com/unitkomunikasidanpenerangansarawak/videos/446764558127326

Clip 1:07:50 / 1:11:33
Unit Komunikasi Awam Sarawak - UKAS
SIARAN LANGSUNG 5 JULAI 2024: MAJLIS PENGUMUMAN DIVIDEN ASSAR

Posted by beluga > 2 weeks ago | Report Abuse

https://www.youtube.com/watch?v=wz8rCquL88I

Astro AWANI : Abang Jo beri bayangan proses ambil alih Affin Bank dimuktamad 19 Julai

Posted by NickelLee > 1 week ago |

Post removed.Why?

Posted by edithcapital > 1 week ago | Report Abuse

Affin technical break out towards RM3

Posted by ScotFree > 1 week ago | Report Abuse

5 possible? Have 40k+

Posted by troy88 > 1 week ago | Report Abuse

wow, congrats

Posted by klee > 1 week ago | Report Abuse

Henceforth,majority of Sarawak's financial trx will go thru Affin.
Affin gonna be a top tier bank.

Posted by Bursino > 1 week ago | Report Abuse

Rage of the Hornbills.

Posted by ZenSen > 1 week ago | Report Abuse

Taking over block shares at wat price?

Posted by zzprozaz > 1 week ago |

Post removed.Why?

Posted by speakup > 1 week ago | Report Abuse

40 minit more to CASINO DE BURSA open! ARE YOU READY TO GAMBLE!
Bet small win small
Bet Big win Big
INI KALILAHHHHHH!

Posted by Plantermen > 1 week ago | Report Abuse

Affin Bank was a drag and a laggard in the banking scene despite with LTAT {Boustead} helming the ship. With a change in the ownership structure maybe Affin can now reinvent and grow it's business presence. Affin started off as Perwira Affin Bank in 2000 and later merge it's operation with BSN commercial. For better or worse time to see a new structural in their business direction

Posted by SeekUndervalued > 1 week ago | Report Abuse

Why goreng so kuat? Hahaha. Sarawak government is dealing directly with LTAT, right? Let's say the selling price to Sarawak government is RM 2.60 per share, outside people buying above RM 2.60 and above. What's the point? I can't get it. Sarawak government is not buying from the public. Anyone care to enlighten me? Thanks.

Posted by SeekUndervalued > 1 week ago | Report Abuse

@zzprozaz, why are you promoting Amway in most of the counters? I even seen your posting in Klsescreener. Hahaha.

Posted by Jonathan Keung > 1 week ago | Report Abuse

Amway is a multi level company targeting consumers using chains of distributors.. nothing related to banking & finance

Posted by speakup > 1 week ago | Report Abuse

Must boycott all American products

Posted by Jonathan Keung > 1 week ago | Report Abuse

Amway products are more pricey vs other related products .eg their so called vitamins , washing power and cleaners.

Posted by aklobi > 1 week ago | Report Abuse

Congrats Affinians!


However,

Since January, 9 Investment Banks have researched Affin Bank. All 9 banks have given a SELL target price, yet Affin continues to climb due to the Sarawak intention to buy. In my opinion this is an unhealthy hype that will drop sharply after the purchase is finalised.

Posted by ScotFree > 1 week ago | Report Abuse

Affin new beginning, go go go

Posted by Plantermen > 1 week ago | Report Abuse

Contrary to certain views. Most anaylst{s} believed and expect banking stocks to drive the KLCI I 2024. Banking stocks constitute 20% of the KLCi index. In addition foreign funds looking to invest in the market are most likely to make a go in this sector. Banks have displayed resilience and achieved solid earnings in the recent qtr earning result. Not a buy call but repost a review by Kenny Yee of Rakutrade. Another senior equity analyst concurred with his views and cited renewed optimism on the market. Please do your own research before you buy or invest

Posted by Plantermen > 1 week ago | Report Abuse

The above news article was updated on 5th January 2024

Posted by wahidul > 1 week ago | Report Abuse

the Hornbills about to fly soon

Posted by Plantermen > 1 week ago | Report Abuse

Yes. SARAWAK is the game changer

Posted by dompeilee > 1 week ago | Report Abuse

I bought just 1 lot of this in May '18 @ $2.51 to attend AGM. Just managed to attend 2 in '18 & '19, enjoying 2 sumptuous dinner buffets in Royale Chulan KL. Can sell now but think I'll wait for $3 at least.

Posted by Plantermen > 1 week ago | Report Abuse

Boustead {LTAT} owes Royal Chulan

Posted by beluga > 1 week ago | Report Abuse

precedent transactions involving the acquisition of financial institutions listed in Malaysia PBRs (Price-to-book ratio) 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 Jonathan Keung > 5 days ago | Report Abuse

Big block of shares park at 3.00. DJ up +742 points. US banks all showing positive momentum

Posted by fruitcake > 3 days ago | Report Abuse

bro jo selling today 😂😂

Posted by chickenriceseller > 3 days ago | Report Abuse

https://theedgemalaysia.com/node/719580 delay or not? but got red carpet at affin tower today

Posted by fruitcake > 3 days ago | Report Abuse

bro jo still dumping with diarrhea💩💩😁😁

Posted by speakup > 3 days ago | Report Abuse

pump pump and dump dump

Posted by aklobi > 3 days ago | Report Abuse

Someone is playing a game, leaking news to manipulate the stock pump and dump.. This isn't healthy for Affin at all.

Posted by Jonathan Keung > 2 days ago | Report Abuse

Simple approval but BNM or Sarawak{ Abang Johari } not agreeable on certain clause. BNM reports to MOF. Anwar is the PM and Minister of Finance. Very strange

Posted by Bursino > 2 days ago | Report Abuse

Very strange. It is not healthy to speculate, certainly a lot of red faces and the MOU was face saving gesture. All is not well.

Posted by Plantermen > 2 days ago | Report Abuse

Face saving for Abang Johari. Sarawak delegation was here in the capital to witness the signing Sales & purchase ceremony with LTAT

Posted by beluga > 2 days ago | Report Abuse

Today’s The Edge Weekly newsprint
“ Premier : Sarawak expects to ink S&P on Affin Bank deal in a month “

It’s reported that they need to sort out some minor technical regulatory process . There’s indication it will be finalised within one month . Sarawak has been given conditional approval on June 12 but there are certain technicalities that they have to furnish to Bank Negara. “… I can’t give examples of the technicalities to you, but it is minor , very minor “ Abang Jo said.

https://www.youtube.com/live/MajCqg96BbU?si=xSNAjiuVuZ9RBcKM

Posted by ZenSen > 2 days ago | Report Abuse

What is the agree purchase price?

Posted by speakup > 2 days ago | Report Abuse

2.20 kot

Posted by beluga > 2 days ago | Report Abuse

KUALA LUMPUR: The deal to increase the Sarawak Government's shareholding from the Armed Forces Fund Board (LTAT), which is the largest shareholder of Affin Bank, is expected to be fully finalised within a month.

The Premier of Sarawak, Datuk Patinggi Tan Sri (Dr) Abang Abdul Rahman Zohari Tun Datuk Abang Openg said that the process of increasing the block of shares in the bank to about 30 from the current 4.8 percent is currently awaiting final approval from Bank Negara Malaysia (BNM).

According to him, BNM had previously given approval involving the acquisition of additional shares in Affin Bank by the Sarawak Government from LTAT on 12 June.

"However, at this time there are three 'minor' matters that need to be finalised in order to proceed with this share purchase agreement after obtaining the necessary regulatory approval," he said.

He said this in a joint press conference with UKAS and TVS after witnessing the signing ceremony of the Memorandum of Understanding (MoU) between the Sarawak Government and LTAT at the Menara Affin Auditorium here on Friday.

In the event, the Premier of Sarawak witnessed the signing of the MoU between the Sarawak Financial Secretary, Dato Sri Dr. Wan Lizozman Wan Omar and Chief Executive of LTAT, Mohammad Ashraf Md Radzi.

Speaking at the same press conference, the Premier of Sarawak said, the Sarawak Government will not interfere in any control over the operation of Affin Bank after the matter is fully finalized later.

He insisted that the state government has no interest or any form of involvement in the management or administration of Affin Bank.

"When we have a shareholding, of course we have a representative on the Board of Directors of Affin Bank and our representative will make recommendations, we (the Sarawak Government) will not interfere.

"Any business decision made by Affin Bank is entirely the responsibility of the Board of Directors and the bank's management," he said.

https://premierdept.sarawak.gov.my/web/subpage/news_view/4025/UKAS?fbclid=IwZXh0bgNhZW0CMTEAAR1-uisrahEk58O161ShauNagCqATNPigEa2HvlN325B-W_l9XotrczD6Ew_aem_8Q3nHkU6NPAvN-p0iXzihQ

Posted by aklobi > 13 hours ago | Report Abuse

Lots of fingers have been burned on Friday.

Posted by speakup > 9 hours ago | Report Abuse

we are Casino De Bursa
just like Casino Genting: sometimes u Win sometimes u Lose

Posted by troy88 > 7 hours ago | Report Abuse

wow, Abang Jo goreng

Posted by Jonathan Keung > 6 hours ago | Report Abuse

Game of thrones. Wait for the final settlement and the crown . BNM vs Abang Johari

Posted by turbochart > 4 hours ago | Report Abuse

Privatised @ 1.50