Posted by TheContrarian > 1 month ago | Report Abuse

Last Tuesday, Khaled told the Dewan Rakyat that he personally did not have any issues with the restructuring plan of LTAT. However, the minister made it clear that specific proposals involving the restructuring of the business model and management of shareholdings, including the sale of assets and disposal of shares in several strategic companies, needed careful consideration.

“We are seeking a win-win situation, where the LTAT strategic plan will not adversely affect the companies, and the shareholdings of LTAT in its subsidiaries can be maintained at a level that allows it to retain control,” Khaled was quoted by the media as saying.

Posted by TheContrarian > 1 month ago | Report Abuse

Is Sarawak going to get 30% or less of Affin?

Posted by TheContrarian > 1 month ago | Report Abuse

Sold BIMB at 2.61 this morning for 15% gain, bought back a bit of Affin at 2.50.

Posted by TheContrarian > 1 month ago | Report Abuse

So quiet here.

Posted by Bursino > 1 month ago | Report Abuse

Abang Joe on silent mode.

Posted by TheContrarian > 1 month ago | Report Abuse

Abang Joe told to be silent?

Posted by Bursino > 1 month ago | Report Abuse

Calm. Something is stewing. Added some lots.

Posted by Bursino > 1 month ago | Report Abuse

Affin NTA now 4.73, I assumed no creative accounting in its books. I think it can stand on its own at 0.7x book value, ie 3.31. The pending Sarawak deal may actually be hindering its "true market price" Interested parties may be putting the hand brakes on the price's upward movement.

Posted by TheContrarian > 1 month ago | Report Abuse

Apparently EPF has ceased selling. There has been buying support at around 2.50 to absorb the selling.

Posted by rohank71 > 1 month ago | Report Abuse

Affin looks awake for an uptrend. hold on tight.

Posted by rohank71 > 1 month ago | Report Abuse

2.50 well absorbed all sellers. Next is to stay at 2.55 and break 2.60 to confirm a steady uptrend to a 3.20 takeover.

Posted by TheContrarian > 1 month ago | Report Abuse

Who's doing takeover at 3.20?

Posted by rohank71 > 1 month ago | Report Abuse

my brother Abang Jo.

Posted by TheContrarian > 1 month ago | Report Abuse

Abang Jo cheapskate offering only RM2.40.

Posted by aklobi > 1 month ago | Report Abuse

Ok let's have a look what's going on in here 0. 0.


Oops still the same hype, maybe come back later..

Posted by speakup > 1 month ago | Report Abuse

Abang jo is smart! Buy cheap to save money for sarawak cos he know LTAT is desperate for cash

Posted by manimalanmuru > 1 month ago | Report Abuse

Abang JO

Posted by LubeTrader > 1 month ago | Report Abuse

Once the dust has settled, price will appreciate. Similar to REXIT share sale and appointment of new board members

Posted by TheContrarian > 1 month ago | Report Abuse

I thought Sarawak purchase of Affin from LTAT was a done and dusted deal. Why BNM still not approve?

Posted by aklobi > 1 month ago | Report Abuse

Does anyone know how we can report KevinJ?

Posted by TheContrarian > 1 month ago | Report Abuse

Bought Affin at 2.45 today.

Posted by Asia88 > 4 weeks ago | Report Abuse

Any door gift for attending this company agm?

Posted by LubeTrader > 4 weeks ago | Report Abuse

Obviously BNM dragging its feet because the offered price is too low. I'm sure many of you have noticed by now, Affin's head honchos are buying their own company's share. It's not uncommon I know but acquiring now? What does this indicate? Interesting nobody is talking about it.

Posted by TheContrarian > 4 weeks ago | Report Abuse

The head honchos got the shares at cheap, cheap price of RM1.86, who doesn't want?

Posted by TheContrarian > 4 weeks ago | Report Abuse

Already almost end of March, still no news of the done and dusted deal?

Posted by rohank71 > 4 weeks ago | Report Abuse

New mgmt at LTAT just announced. hope they now can work to complete the deal.

Posted by rohank71 > 4 weeks ago | Report Abuse

https://www.klsescreener.com/v2/news/view/1301723

Hope they can sign off deal sooner.

Posted by rohank71 > 3 weeks ago | Report Abuse

Affin active today with lots.of buyers. will the deal with Swak be announced soon..anyone can share.

Posted by LubeTrader > 3 weeks ago | Report Abuse

Door gifts at AGM seems to be the prerequisite for attendance. I think the meeting takeaways are what we're after.

Posted by TheContrarian > 3 weeks ago | Report Abuse

Mohamed Khalid confirmed that Boustead Holdings Bhd, which has been taken private by LTAT in June 2023, will sell its stake in Affin Bank Bhd to the Sarawak state government, although he did not clarify the quantum of the stake that will be divested.

He said the deal is currently pending Bank Negara Malaysia’s (BNM) approval.

“We will proceed with that (stake sale). We are just waiting for the approval from BNM. Not LTAT, but LTAT's subsidiary Boustead. LTAT will still remain in Affin Bank,” he said, confirming that LTAT will retain its stake in Affin Bank.

Posted by TheContrarian > 2 weeks ago | Report Abuse

There's a possibility that Sarawak will be paying something like RM3 per share for the deal to go through.

Posted by TheContrarian > 2 weeks ago | Report Abuse

During Hari Raya on 10th April Abang Jo said that approval from BNM within 2 weeks.

Posted by TheContrarian > 1 week ago | Report Abuse

Sarawak will be paying approximately RM1.4 billion to increase their stake in Affin. What is unknown at the moment is this RM1.4 billion is for how many percentage in Affin. If it's for the whole 20% held by Boustead then the price tag is around RM3 per share.

Posted by stockraider > 1 week ago | Report Abuse

Rumor raider heard is the purchase price will be around Rm 2.80 loh!

Posted by TheContrarian > 1 week ago | Report Abuse

Bought Affin at 2.42.

Posted by aklobi > 6 days ago | Report Abuse

Good luck TheContrarian. I am still waiting for lower prices, hopefully after the hype ends. Adopting a "Cash is King" strategy.

Posted by TheContrarian > 6 days ago | Report Abuse

Personally I think 2.40 will be the floor price in the near future because that's the minimum price LTAT will sell to Sarawak.

Posted by TheContrarian > 5 days ago | Report Abuse

On 10th April during a Raya function Abang Jo said Bank Negara approval within 2 weeks. The 2 weeks is coming to an end soon. Something that was apparently done and dusted back in December is taking a longer time than expected.

Posted by TheContrarian > 5 days ago | Report Abuse

Hopeful there's no hiccups and Affin will rally.

Posted by cts9389 > 4 days ago | Report Abuse

March 26, 2024 at 08:34 am EDT
Share
AFFIN Bank Berhad proposed single-tier final dividend of 5.76 sen per ordinary share in respect of the financial year ended December 31, 2023.AFFIN Bank Berhad Proposes Single-Tier Final Dividend for the Year Ended December 31, 2023

Posted by Littleprince > 3 days ago | Report Abuse

Sorry but can anyone enlighten me on why Sarawak don't organically apply for a license and build a commercial bank of their own?

Posted by aklobi > 3 days ago | Report Abuse

Good question Littleprince

Posted by SeekUndervalued > 3 days ago | Report Abuse

@Littleprince, it takes time to build. And if the pricing is right, why not purchase a ready commercial bank? It saves time, and you can also calculate your budget. Just like why you buy a ready made house by developer instead of building your own house.

Posted by LubeTrader > 3 days ago | Report Abuse

Quoting report:
Financial weekly "The Edge" quoted people familiar with the matter as reporting that at this stage, the Sarawak state government is seeking approval from Bank Negara to increase its existing shareholding, which is 4.8%, to about 30% in one fell swoop.

It is understood that Sarawak intends to nominate Tan Sri Abdul Aziz Hussan, chairman of its economic development agency, to serve as chairman of Affin Holdings.

Sources said that it is still unclear whether this will be achieved, but Bank Negara Malaysia prefers that Affin Holdings have an independent chairman.

Posted by LubeTrader > 3 days ago | Report Abuse

BNM is uneasy about not having an independent chairman for transparency reason. Let's hope they can clear this stumbling block soon.

Posted by TheContrarian > 2 days ago | Report Abuse

Affin AGM tomorrow at 10 am.

Posted by TheContrarian > 1 day ago | Report Abuse

The AGM was chaired by the Chairman of Affin Bank Berhad, YBhg. Dato' Agil Natt, with the Board of Directors and President & Group Chief Executive Officer, YBhg. Datuk Wan Razly Abdullah in attendance.

Chairman thanked all the investors, customers, and other stakeholders for their continued support in enabling the Group to deliver excellent performance consistently. He also thanked the employees for their hard work, professionalism, and commitment. AFFIN Group will remain focused on providing profitable and sustainable growth and will grow to become a Modern and Progressive Bank.

Posted by TheContrarian > 1 day ago | Report Abuse

Abang Jo didn't attend the AGM.

Posted by plaxo 88 > 12 hours ago | Report Abuse

Anybody knows if there was a door gift announced for people who registered or voted?

Posted by LubeTrader > 9 hours ago | Report Abuse

There are more pressing matters to attend to, like vote, understand the financial position and future direction of the bank than door gifts. Why is it so important? Are you a collector?