Posted by aklobi > 2024-07-10 13:10 | 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 > 2024-07-10 17:31 | Report Abuse

Affin new beginning, go go go

Posted by Plantermen > 2024-07-10 18:19 | 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 > 2024-07-10 18:23 | Report Abuse

The above news article was updated on 5th January 2024

Posted by wahidul > 2024-07-11 12:53 | Report Abuse

the Hornbills about to fly soon

Posted by Plantermen > 2024-07-11 17:22 | Report Abuse

Yes. SARAWAK is the game changer

Posted by dompeilee > 2024-07-12 08:30 | 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 > 2024-07-12 11:58 | Report Abuse

Boustead {LTAT} owes Royal Chulan

Posted by beluga > 2024-07-12 14:50 | 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 > 2024-07-17 11:31 | Report Abuse

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

Posted by fruitcake > 2024-07-19 09:36 | Report Abuse

bro jo selling today 😂😂

Posted by chickenriceseller > 2024-07-19 10:36 | Report Abuse

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

Posted by fruitcake > 2024-07-19 12:34 | Report Abuse

bro jo still dumping with diarrhea💩💩😁😁

Posted by speakup > 2024-07-19 12:52 | Report Abuse

pump pump and dump dump

Posted by aklobi > 2024-07-19 15:44 | 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 > 2024-07-19 17:46 | 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 > 2024-07-19 17:56 | 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 > 2024-07-20 07:06 | 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 > 2024-07-20 10:14 | 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 > 2024-07-20 11:46 | Report Abuse

What is the agree purchase price?

Posted by speakup > 2024-07-20 13:22 | Report Abuse

2.20 kot

Posted by beluga > 2024-07-20 15:59 | 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 > 2024-07-22 03:11 | Report Abuse

Lots of fingers have been burned on Friday.

Posted by speakup > 2024-07-22 07:42 | Report Abuse

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

Posted by troy88 > 2024-07-22 09:18 | Report Abuse

wow, Abang Jo goreng

Posted by Jonathan Keung > 2024-07-22 10:38 | Report Abuse

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

Posted by speakup > 2024-07-23 12:47 | Report Abuse

https://www.malaymail.com/news/malaysia/2024/07/22/malaysian-banks-express-concern-over-union-staff-picket-call-to-resume-dialogue/144578

Posted by Plantermen > 2024-07-23 14:15 | Report Abuse

NUBE is the union of workers in Malaysia commercial banks { clerical staffs and non clerical workers} excluding executive officers who have a separate union. NUBE has started picketing over stalled negotiations

Posted by Plantermen > 2024-07-23 14:36 | Report Abuse

Affin banking group has a total of 115 bank offices operating in Malaysia. Out of the 115 only 4 branch office`s in Sabah plus another 4 in Sarawak. Tremendous scope for Affin to expand is reach in the 2 Borneo states. Sarawak and Sabah once was dominant in their own turf having household names like Hock Hua Bank, Bank Utama, Wah Tat Bank, Miri commercial bank, Bian Chiang bank, Kwong Lee Bank and Kong Min Bank. Even UOB {Founder Wee} started his initial banking group in Sarawak. Sarawak is a rich state but through the bank consolidation and merger. The land of the hornbills has lost all the above regional banks

Posted by Jonathan Keung > 2024-07-27 19:33 | Report Abuse

Latest news report. Sarawak will inked the deal within a months time. This time Abang Johari plays smart . Don't commit on a date

Posted by Bursino > 2024-07-27 21:01 | Report Abuse

The market has factored all the good news. Should bad news strike....? Best is when the bird is in the hand.

Posted by Plantermen > 2024-07-29 10:26 | Report Abuse

Affin testing our patience

Posted by GoToHolland > 2024-07-29 10:28 | Report Abuse

Weiii...otw to the holland....wkakakakakkaka

Posted by JJPTR > 2024-07-29 11:20 | Report Abuse

If Affin bank goes bankrupt, 32million tax payers money will be used to bail out the bank, with the excuse police retirement fund is affected. And this has happen so many time in the past 20 years. Bousted is army retirement fund

Posted by Bursino > 2024-07-29 16:09 | Report Abuse

Not too bad - 2.93 😁

Posted by Bursino > 2024-07-29 16:12 | Report Abuse

eight months invested and still counting

Posted by Plantermen > 2024-07-29 18:34 | Report Abuse

Without prejudice. All the 9 banking institution group is govern and under the strict supervision of BNM { unlike the late 90's where the banking industry before the meger and consolidation initiated by MOF and BNM. The current institution share holder{s} group of AFFIN consist of LTAT {28%} that is Armed Forces pension fund, Bank of East Asia {24%} Hong Kong listed companies and a long time strategic investor, Boustead Holdings holds 20% and our local KWSP holds around 5%. Other insurance, IB's, unit trusts and Glic link companies holds betw 2 %-3 %. Not forgetting Sarawak State owned incorporated corporation recently acquired 3% of Affin banking group. Not much of a free float if you really digest their shateholdings

Posted by klee > 2024-07-31 12:13 | Report Abuse

Sarawak funds currently deposited with other banks will be transfered to Affin.
This number runs into more than 40 billions ringgit.

Posted by Bursino > 2024-07-31 12:45 | Report Abuse

this is surreal. the leaders in the state have set in motion their agenda for autonomy and self sustaining. its for real. next - a few other horn bill counters will follow suit in tandem with the progress. i am invested. all sales on Affin shares halted immediately until further developments. 😁

Posted by klee > 2024-07-31 13:29 | Report Abuse

A buy on Affin is a Buy on the moderate ,progressive,non racial extremist Sarawak govt,n the vast natural resources of Sarawak of O&G and RE.Now that the 'white hair' has gone to meet his maker,Sarawak is ready to realize its full potential.

Posted by LubeTrader > 2024-07-31 14:40 | Report Abuse

What klee stated above about transferring the State's funds into Affin and conduct all it's business and banking activities thru Affin is a high possibility. I never thought of that. In fact why not? Once the State holds a controlling stake in the said bank it's only logical and reasonable that they do so. Not so sure about the size of the funds but I'm sure it's going to be significant.

Posted by LubeTrader > 2024-07-31 14:50 | Report Abuse

Just my own prediction, by the time the sale is finalized, Affin's share price would be hovering in the range of 4.00 - 4.10

Posted by klee > 2024-07-31 15:09 | Report Abuse

Agreed Lubetrader.It will run up for the period till the deal is sealed.Meanwhile any good news from sarawak economy will spur its price even faster.

Posted by Plantermen > 2024-07-31 21:34 | Report Abuse

Sarawak state has budgeted 12.36 billion for 2024 in December last year { excluding the special allocation off the Petronas oil revenue royalty which the State has renegotiated} We are a few months away from the Federal Budget for 2025 to be presented in Oct in Parliament by Anwar {PM} Expect Sarawak to receive more positive developments under coming 2025 budget

Posted by Bursino > 2024-08-01 08:52 | Report Abuse

Currently the bank operates six branches in Sarawak – three in Kuching, and one each in Sibu, Bintulu and Miri. I read Sarawak GDP is RM18 billion a month.

Posted by Bursino > 2024-08-01 09:01 | Report Abuse

The market is dynamic. Irrational. Affin can be a profitable top tier bank, it will take some time to realize. It may or may not happen. Meanwhile make the best out of the present. 😁

Posted by Plantermen > 2024-08-01 10:01 | Report Abuse

A bank profitability really lies on its own ability to tap into the "Casa" deposit base against the spread in the bank's lending rates. With the State backing the capacity to increase its "Casa deposit ` is enormous. Look at PBB operations their huge 'Casa deposit ` is always a plus for their profitability. Not a buy call on Affin just my 2sen own view on Sarawak State share buy on Affin acqusition. Remember in the past Sarawak have 6 local popular bank operating prior to BNM/MOF countrywide merger and consolidation

Posted by klee > 2024-08-01 10:25 | Report Abuse

Sarawak,Johor,Penang n Selangor...the 4 tigers of Msia.Any banks with full backing of any of these 4 will naturally do very well.

Posted by Plantermen > 2024-08-05 09:38 | Report Abuse

Panic selling. Red sea across the board.

Posted by edithcapital > 2 months ago | Report Abuse

Someone just bought a big chunk of Affin shares at 3.11.