Details of corporate proposal Dividend reinvestment plan applicable to the special dividend and interim dividend in respect of the financial year ending 31 December 2022 ("5th DRP") No. of shares issued under this corporate proposal 61,559,377 Issue price per share ($$) Malaysian Ringgit (MYR) 1.8500 Date of listing: 30 Dec 2022
While there were concerns among analysts about how Affin Bank would plug the earnings hole left by AHAM — the latter accounted for 20% to 30% of group earnings — it was nevertheless seen as a deal too good to be passed up.
The offer from CVC came at a time when the group urgently needed funds to feed its fast-growing Islamic banking business.
“We felt if we didn’t take the offer, we might never get another offer with similar valuations,” president and group CEO Datuk Wan Razly Abdullah Wan Ali said in a recent interview with The Edge.
The divestment, which was completed on July 29, enabled Affin Bank to recognise a net gain of RM1.063 billion, the bulk of which will be used to fund its core banking activities and for working capital.
It also helped lift its common Equity Tier-1 ratio, a key indicator of capital strength, to 16.3% as at end-September, from 13.4% three months earlier, well above the industry’s 15.1%.
Affin Bank was then able, in the third quarter, to strengthen its loan loss coverage ratio to 112.25%, from a mere 80% three months earlier, putting it more in line with the industry.
I still have unused cash divs. Need a good bargain stock.. my criteria for a good bargain: 1- low pe ratio 2- high book value 3- nearer to 52 week low price 4- regular divs.. 5- No financial troubles.. Any suggestions?
f transformation journey with the A25 Plan, which runs from 2023 to 2025.
The bank said its next three years will see it focusing on three key strategic objectives as part of A25 Plan namely - unrivalled customer service, digital leadership and responsible banking with impact.
Affin Bank also said it aims to be the most creative financial company in the country.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Nepo
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Posted by Nepo > 2022-12-29 14:46 | Report Abuse
Details of corporate proposal Dividend reinvestment plan applicable to the special dividend and interim dividend in respect of the financial year ending 31 December 2022 ("5th DRP")
No. of shares issued under this corporate proposal 61,559,377
Issue price per share ($$) Malaysian Ringgit (MYR) 1.8500
Date of listing: 30 Dec 2022