AFFIN BANK BERHAD

KLSE (MYR): AFFIN (5185)

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Last Price

2.48

Today's Change

0.00 (0.00%)

Day's Change

2.45 - 2.50

Trading Volume

1,883,900

Discussions
2 people like this. Showing 50 of 3,930 comments

TheContrarian

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.

1 month ago

cts9389

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

1 month ago

Littleprince

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

1 month ago

aklobi

Good question Littleprince

1 month ago

SeekUndervalued

@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.

1 month ago

LubeTrader

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.

1 month ago

LubeTrader

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

1 month ago

TheContrarian

Affin AGM tomorrow at 10 am.

1 month ago

TheContrarian

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.

1 month ago

TheContrarian

Abang Jo didn't attend the AGM.

1 month ago

plaxo 88

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

1 month ago

LubeTrader

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?

1 month ago

TheContrarian

Affin is consolidating too long, there's no clear direction going up or going down.

1 month ago

TheContrarian

Ya, hard for bank stocks to move up without foreign funds buying.

1 month ago

TheContrarian

April coming to an end and still Sarawak has not been given approval to increase their stake in Affin.

1 month ago

TheContrarian

KUCHING, May 2 — The Sarawak government is still waiting for approval from Bank Negara Malaysia (BNM) to acquire a majority stake in Affin Bank Malaysia, said Premier Tan Sri Abang Johari Openg today.

1 month ago

TheContrarian

CNY over, Raya over, is Abang Jo waiting for Deepavali?

1 month ago

SeekUndervalued

@TheContrarian, Hahaha. Waiting for Christmas as well.

1 month ago

TheContrarian

Abang Jo wants to take control of Affin buying so little and paying so little.

1 month ago

aklobi

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

1 month ago

TheContrarian

Those targets set by Investment Banks?

1 month ago

TheContrarian

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

1 month ago

TheContrarian

There's a 50% chance that the Sarawak proposed acquisition of Affin will be called off. Pity Abang Jo.

1 month ago

aklobi

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

1 month ago

EngineeringProfit

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

1 month ago

aklobi

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

1 month ago

TheContrarian

Took some profits on Affin at 2.56 this morning.

4 weeks ago

TheContrarian

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.

🤣🤣🤣

4 weeks ago

M55555

All IB SELL CALL? HOW ?

3 weeks ago

raymondroy

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

3 weeks ago

TheContrarian

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

3 weeks ago

aklobi

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.

3 weeks ago

TheContrarian

Bought back Affin at 2.40.

3 weeks ago

TheContrarian

There's a possibility that LTAT sale of Affin via Boustead to Sarawak will be called off due to pricing disagreement.

2 weeks ago

beluga

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.

2 weeks ago

TheContrarian

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

2 weeks ago

jluck

TheContrarian, share the source please.

2 weeks ago

TheContrarian

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.

1 week ago

TheContrarian

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.

1 week ago

TheContrarian

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

1 week ago

beluga

“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/

5 days ago

beluga

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

5 days ago

Bursino

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?

5 days ago

TheContrarian

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

5 days ago

beluga

https://theedgemalaysia.com/node/715949

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

15 hours ago

TheContrarian

Sarawak ministers a lot of hot air, hahaha.

13 hours ago

TheContrarian

Took some profits on Affin at 2.49.

13 hours ago

Bursino

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

11 hours ago

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