Posted by aklobi > 2024-05-13 03:24 | Report Abuse

Looking at the last 5 target price estimates, the highest is 2.25 and the lowest is 1.70: I suspect that after the dust settles from Sarawaks transaction there will be blood spilled from an over sell. Many fingers could be burned

Posted by TheContrarian > 2024-05-13 09:24 | Report Abuse

Those targets set by Investment Banks?

Posted by TheContrarian > 2024-05-17 09:33 | Report Abuse

Already mid-May still no approval for Sarawak to buy Affin. Seems like hot air from Abang Jo.

Posted by aklobi > 2024-05-18 19:31 | Report Abuse

I am there at the bottom of the tree with my bucket wide open waiting for the fruits to come falling..

Posted by EngineeringProfit > 2024-05-18 19:37 | Report Abuse

Wake up ....don't get your fund stuck here for too long. Lots of profit$$$$$$$ in many other counters

Posted by aklobi > 2024-05-20 13:50 | Report Abuse

@EngineeringProfit.. I have looked all over the market but prices have skyrocketed. I am playing the patient waiting game.

Posted by TheContrarian > 2024-05-21 13:13 | Report Abuse

Took some profits on Affin at 2.56 this morning.

Posted by TheContrarian > 2024-05-23 00:01 | Report Abuse

May 22 — Sarawak Premier Tan Sri Abang Johari Openg today said that European Union (EU) countries have indicated their interest to set up an EU bank in Sarawak to provide a source of funding for green investments in the state.

🤣🤣🤣

Posted by M55555 > 2024-05-23 21:40 | Report Abuse

All IB SELL CALL? HOW ?

Posted by raymondroy > 2024-05-23 23:14 | Report Abuse

IBs give sell call as affin PER is 14x plus plus....when most banks are at about 10x PER.... or below :-) happy hunting

Posted by TheContrarian > 2024-05-24 10:18 | Report Abuse

Affin price will not likely to dip below 2.40 because that's the minimum price LTAT selling to Sarawak.

Posted by aklobi > 2024-05-28 20:19 | Report Abuse

I have said this before, IBs are all calling for a SELL. The price is too hyped due to Sarawak news. Once it no longer is news but fact, the price in my opinion will dip.

Posted by TheContrarian > 2024-05-29 17:11 | Report Abuse

Bought back Affin at 2.40.

Posted by beluga > 2024-05-31 13:49 | Report Abuse

https://www.theborneopost.com/2024/05/30/dr-sim-affin-maswings-acquisitions-not-under-ma63-negotiations/

https://www.theborneopost.com/2024/05/18/sarawaks-revenue-expected-to-hit-rm16-bln-this-year-says-abg-jo/

Sarawak's revenue is expected to hit RM16 billion this year. Every year expected to grow.
Sarawak can swallow Affin, easily.
My conviction remains. Affin will be gobbled up by Sarawak.

Posted by TheContrarian > 2024-05-31 17:33 | Report Abuse

Maybe there will be an announcement tonight : Sarawak buys 20% of Affin from Boustead at RM2.60 per share.

Posted by jluck > 2024-06-01 07:54 | Report Abuse

TheContrarian, share the source please.

Posted by TheContrarian > 2024-06-08 19:13 | Report Abuse

Already June still Bank Negara refuses to approve a deal which is already done and dusted in December? Those LTAT personnel who agreed on the pricing to sell have all resigned back in January. The new Minister of Defense is insisting on higher price for such a sizeable block of Affin shares. The originally agreed price was at around RM2.40 (disclosed in the lastest Edge Weekly as RM2.42). I think LTAT is asking for RM2.60, just a bit more but Sarawak so stingy. So Bank Negara just put everything aside.

Posted by edithcapital > 2024-06-10 10:53 | Report Abuse

Affin bank, Blackrock of Malaysia.
https://www.klsescreener.com/v2/news/view/1339413/cross-light-capital-affin-bank-announce-launch-of-digital-asset-fund

Posted by TheContrarian > 2024-06-10 18:15 | Report Abuse

Abang Jo made a phone call to Bank Negara to ask why CNY come, CNY go, Raya come, Raya go, still deal for Sarawak to "take over" Affin no go? Bank Negara told Abang Jo to shut up and until today Abang Jo hasn't mentioned Affin.

Posted by TheContrarian > 2024-06-12 18:29 | Report Abuse

Today I received Affin shares issued at only RM2.176.

Posted by beluga > 2024-06-14 14:08 | Report Abuse

“If they want to migrate to Sarawak, I say can, so I want to suggest to the Premier (Datuk Patinggi Tan Sri Abang Johari Tun Openg) as well, when we have our own bank later, those wishing to migrate to Sarawak must have minimum deposit of RM2 million in our state-owned bank, or purchase property here for no less than RM1.5 million. …This at least can generate income for our state. They can also get permanent resident status in Sarawak,” Deputy Prime Minister Datuk Seri Fadillah Yusof said on 27 April 2024.

I would like to suggest people use ChatGPT or google and ask “What is the ownership structure of a state-owned bank?”

https://www.theborneopost.com/2024/04/27/minimum-rm2-mln-deposit-or-buy-rm1-5-mln-property-as-prerequisite-for-business-folks-migrating-to-swak-dpm-suggests/

Posted by beluga > 2024-06-14 14:44 | Report Abuse

Maybe that explains why the regulator is taking so long to assess the (complex) application. A state takeover of a commercial bank, no ?

Posted by Bursino > 2024-06-14 14:46 | Report Abuse

The Chairman's post? Is it an issue? Will it be an issue? Have the parties concerned settled this matter? What if Sarawak INSISTS on its nomination for the post?

Posted by TheContrarian > 2024-06-14 18:29 | Report Abuse

Abang Jo has been told by Bank Negara to shut up and since then Abang Jo hasn't mentioned Affin.

Posted by beluga > 2024-06-19 15:52 | Report Abuse

https://theedgemalaysia.com/node/715949

How many zeros is RM1.25 trillion ? How much is 1% of RM1.25 trillion?

Posted by TheContrarian > 2024-06-19 17:17 | Report Abuse

Sarawak ministers a lot of hot air, hahaha.

Posted by TheContrarian > 2024-06-19 17:18 | Report Abuse

Took some profits on Affin at 2.49.

Posted by Bursino > 2024-06-19 20:14 | Report Abuse

The first thing that came to my mind was Bre-X. Google if anyone needs to know about the Canadian company Bre-X.

Posted by ZenSen > 2024-06-28 09:53 | Report Abuse

Why BEA dispose shares?

Posted by TheContrarian > 2024-06-28 12:23 | 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 > 2024-06-28 18:58 | Report Abuse

Took further profits at 2.48.

Posted by TheContrarian > 2024-07-05 17:24 | Report Abuse

Sold balance of Affin at 2.59.

Posted by beluga > 2024-07-05 20:23 | 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 > 2024-07-05 20:27 | 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 > 2024-07-05 22:36 | 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 > 2024-07-05 22:49 | 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 > 2024-07-05 23:09 | 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 > 2024-07-09 09:01 |

Post removed.Why?

Posted by edithcapital > 2024-07-09 09:52 | Report Abuse

Affin technical break out towards RM3

Posted by ScotFree > 2024-07-09 13:55 | Report Abuse

5 possible? Have 40k+

Posted by troy88 > 2024-07-09 16:15 | Report Abuse

wow, congrats

Posted by klee > 2024-07-09 16:22 | Report Abuse

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

Posted by Bursino > 2024-07-09 16:28 | Report Abuse

Rage of the Hornbills.

Posted by ZenSen > 2024-07-09 21:00 | Report Abuse

Taking over block shares at wat price?

Posted by zzprozaz > 2024-07-10 08:13 |

Post removed.Why?

Posted by speakup > 2024-07-10 08:25 | 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 > 2024-07-10 09:25 | 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 Jonathan Keung > 2024-07-10 12:01 | Report Abuse

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

Posted by speakup > 2024-07-10 12:08 | Report Abuse

Must boycott all American products

Posted by Jonathan Keung > 2024-07-10 13:02 | Report Abuse

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