Posted by mf > 3 weeks ago | Report Abuse

Dow Jones

Dow Jones Industrial Average

40,345.41

-410.34

1.00%

Nasdaq

NASDAQ Composite

16,690.83

-436.82

2.55%

Posted by beluga > 3 weeks ago | Report Abuse

I think Sarawak is likely to pay a fair premium to takeover Affin. Sarawak 's revenue for 2024 is expected to surpass last year's RM13.1 billion .

https://klse.i3investor.com/web/blog/detail/LTATneedToSellAffinBank/2024-02-21-story-h-188299947-SARAWAK_should_pay_a_premium_to_own_AFFIN_Bank

Posted by beluga > 3 weeks ago | Report Abuse

https://www.nst.com.my/news/nation/2024/05/1052310/sarawak-expects-collect-rm16-billion-revenue

Posted by ZenSen > 2 weeks ago | Report Abuse

Wat happened ohh?

Posted by beluga > 2 weeks ago | Report Abuse

"These major projects that have been implemented and undertaken by the Sarawak Premier’s administration does not include two other major acquisitions which are currently under negotiations, namely the taking over of MASwings and Affin Bank, which will definitely cost Sarawak billions of ringgit.

Now let us ask ourselves, how did Datuk Patinggi Abang Zohari managed to source such a colossal amount of money?

The answer is very complex, but to make it sound very simple - it is with a stroke of genius that his administration has managed to impose a five per cent SST on oil and gas productions in Sarawak. Since the imposition of the SST in 2019, it has contributed RM14.7 billion as of October 2023....

https://premierdept.sarawak.gov.my/web/subpage/news_view/6500/UKAS?fbclid=IwY2xjawFQjElleHRuA2FlbQIxMAABHUUCK4KD6LDx7vLMc8ThjW2kxnNUlMXd92n-COrAdpfzWA_AZLMWd_7hng_aem_8fkzKu95a8_LgGcSB7SLiQ

Posted by ScotFree > 2 weeks ago | Report Abuse

Sarawak vision is to be the "Bavaria" or economic engine state of Malaysia.

Posted by beluga > 2 weeks ago | Report Abuse

https://www.channelnewsasia.com/asia/malaysia-sarawak-premier-abang-johari-openg-bavaria-4595366

"In recent years, Sarawak has retaken Bintulu Port from the federal government, bought over regional airline MASwings from the national flag carrier Malaysia Airlines, and is in the final stages of acquiring a controlling stake in Affin Bank."

CONTROLLING stake

Posted by Jonathan Keung > 1 week ago | Report Abuse

Peninsula Malaysia we have Maybank { Malayan Banking } . Now Sarawak have their own niche bank AFFIN Group

Posted by Eagle77 > 1 week ago | Report Abuse

Profit taking ⬇️🩸

Posted by beluga > 1 week ago | Report Abuse

https://www.nst.com.my/news/nation/2024/09/1108702/bnm-okays-sarawaks-affin-bank-acquisition-says-premier-watch

"You will hear within a week. I don't want to make an official announcement as I don't want people to buy the bank's stocks. That's why I don't want to tell earlier,"

WOW

Posted by turbochart > 1 week ago | Report Abuse

Sharkfin bank? Wakakaka😁 I like it!!!

Posted by ZenSen > 1 week ago | Report Abuse

No power

Posted by plaxo 88 > 1 week ago | Report Abuse

AB back in the play. Anybody has some news on the latest developments.

Posted by TheContrarian > 1 week ago | Report Abuse

The S&P will be inked on Friday.

Posted by Bursino > 1 week ago | Report Abuse

Big news. No big news.

Posted by Bursino > 1 week ago | Report Abuse

So far away from it's 52 weeks peak at 3.43.

Posted by Jonathan Keung > 1 week ago | Report Abuse

What's important is the Board composition and the Management heading Affin. Look at Alliance Bank. Respectable & experienced Amirsham joined the Board

Posted by Bursino > 1 week ago | Report Abuse

Yes Yes Yes. Has Affin put in place a Board that will lift Affin Bank to a higher level?

Posted by Plantermen > 1 week ago | Report Abuse

We all will know on Friday after Abang inked the deal with LTAT

Posted by LubeTrader > 1 week ago | Report Abuse

This has to be it, right guys? I mean how many MOUs can they sign?

Posted by Plantermen > 1 week ago | Report Abuse

This round is too inked the S&P after the MOF and BNM have given thier greenlight

Posted by Bursino > 1 week ago | Report Abuse

This time it has to be for real. The show is to be held in Kuching. The market likely already factored in the pricing for the short term.

Posted by Bursino > 5 days ago | Report Abuse

Let's see whether the share price of Affin will shoot up 4.30 onwards till closing.

Posted by Plantermen > 5 days ago | Report Abuse

Not so Gun Ho for the time being. Affin need to break it's its previous high price range betw 3.45 - 3.50. Can we see it tomorrow?

Posted by Bursino > 5 days ago | Report Abuse

😁

Posted by Bursino > 5 days ago | Report Abuse

New Straits Times report, the event will take place at Sheraton Kuching Hotel at 2.30pm.

Posted by chokra > 5 days ago | Report Abuse

Affin Bank's counter service is the slowest in the country. It is common to observe a single customer finally completing their bank transaction after 40 minutes at one counter. Maybe it is a common knowledge that Affin Bank caters to many old timers who like their FD rates. But slow counter service means they serve fewer customers as compared to other banks especially Public Bank on an hour basis. I only go to Affin Bank once a while out of necessity. Affin Bank must improve their counter service. The bank's auditors on counter service must work on improving counter service.

Posted by Kim > 4 days ago | Report Abuse

RM3.50
RM4.30

Posted by Kim > 4 days ago | Report Abuse

BUY below <3

Posted by Janus Mun > 4 days ago | Report Abuse

byebye,party over.....

Posted by loganwolverine42 > 4 days ago | Report Abuse

News just announced, Monday can fly: https://www.nst.com.my/amp/business/corporate/2024/09/1111597/breaking-news-sarawak-raises-interest-affin-bank-3125pct

Posted by Plantermen > 4 days ago | Report Abuse

Sarawak acquired 31.25% of Affin shares. Sarawak State is now the largest and controlling shareholder of the Affin Group

Posted by XinXin Chan > 4 days ago | Report Abuse

What's the acquiring price per share offered by Sarawak Government?

Posted by Plantermen > 4 days ago | Report Abuse

At the signing ceremony the price they acquired from LTAT was not revealed. There is a strong possibility of different pricing used for the shares acquired. Maybe later we will know more about the S&P details.

Posted by rohank71 > 4 days ago | Report Abuse

say buy 27% but don't say price... something fishy. Bursa and SC must query them..if NO query... next election we should know what to do.. 2 X 5... both Govt is the same either PH or PN.

Posted by TheContrarian > 4 days ago | Report Abuse

Sarawak has inked an S&P to purchase approximately 634.7 million Affin shares from two vendors, namely Boustead and LTAT for a total consideration of ..............

Posted by vincentaubrey > 4 days ago | Report Abuse

I quote partly from the Edge Weekly. " A conspicuously missing price tag: ..........It comes as a surprised that the price paid could not be revealed during the signing ceremony as talks on the transactions have been ongoing for more than a year. Why the secrecy over the price,and secondly,what essential terms do the SPA contain?" end quote.

Posted by Bursino > 4 days ago | Report Abuse

It could be that a "package" was worked out. Some indirect parts and sum of the package is to be remained a secret.

Posted by speakup > 3 days ago | Report Abuse

The price is secret because it is toooo low to tell. Isn't that obvious!
Sarawak probably bought that for only rm2 so cannt tell Public otherwise public will dump Affin shares

Posted by speakup > 3 days ago | Report Abuse

Recall last time they bought the 5% for only rm1.97! This time maybe just rm2. And investors here have been speculating speculating pushing up the share price above rm3

Posted by beluga > 3 days ago | Report Abuse

“AFFIN BANK was also notified that the Divestment is expected to be completed in the 4th quarter of 2024.”

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3487150

Hopefully once the divestment transacted , they will disclose the price together with the changes in substantial shareholding

Posted by vincentaubrey > 3 days ago | Report Abuse

What speakup wrote about the trading activities at AFFIN the last few months were generally true.I have been selling at around 2.60-2.80 range.

Posted by mf > 3 days ago | Report Abuse

US leaders praise Israel’s assassination of Hezbollah’s Nasrallah

Posted by speakup > 3 days ago | Report Abuse

@mf may i ask what has "Israel’s assassination of Hezbollah’s Nasrallah" got to do with Affin?

Posted by Balian de Ibelin > 3 days ago | Report Abuse

is @mf saying Hezbollah has accounts with Affin Bank?

Posted by speakup > 1 hour ago | Report Abuse

@mf may i ask what has "Israel’s assassination of Hezbollah’s Nasrallah" got to do with Affin?

Posted by Jonathan Keung > 2 days ago | Report Abuse

Looking at the Affin news on the pricing. Strong possibilities of Sarawak government paid different pricing to LTAT and Boustead. Latest news Sarawak State owns 31% , LTAT still owns 20% , Boustead disposed their 20% share . Previously Sarawak acquires 5% from LTAT plus now the 20% from Boustead. The balance 5%-6% from open market. Bank of East Asia still owns 23% { provided they did not disposed any shares } the share spread is very tight. Sarawak 31% + LTAT 20% + BEast Asia 23% = 74 %

Posted by mf > 2 days ago | Report Abuse

BREAKING
Japan’s Nikkei falls over 4%,

Posted by nisah395 > 2 days ago | Report Abuse

Sliding down to RM2.85 today

Posted by Kim > 2 days ago | Report Abuse

Collect =)
Once above 2.90 ..fly
Kikiki

Posted by Kim > 2 days ago | Report Abuse

Last calling heheh