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AllianceDBS Research chief economist Manokaran Mottain said the hike will directly increase the base financing rate by as much as 25bps and deposit rates by as much as 20bps. “For the banking industry, the rate hike means higher margins from variable rate products,” he said in a report. (90-0)
The SC said in a statement that the seven remaining companies were Affin Holdings Bhd, Alliance Bank Bhd, Batu Kawan Bhd, Fraser & Neave Holdings Bhd, Genting Plantations Bhd, Genting Malaysia Bhd and UOA Development Bhd. Currently, the SC and the 30% Club Malaysia have been actively engaging the companies. (15-0)
A study by Khazanah Research Institute found that Malaysia ranked 106 out of 144 in the region in terms of women participating in the workforce. — Reuters picKUALA LUMPUR, Jan 21 — The lipstick squad is off to a great start this year with the Securities Commission (SC) announcing today that there are only seven public- listed companies in the top 100 nationwide that still have an all-male boardroom. (13-0)
The proposed purchase price of RM180.54mil or RM11.78 a share cash will enable it to raise the shareholding from 37.07% to 49.95% comprising 59.46 million shares.
Moving forward, Affin said its capital position is expected to be further strengthened by its corporate exercise to unlock more value for shareholders and provide better returns.
MarketWatch: US stocks started the fourth quarter on a strong note on Monday, with all three major indexes hitting record high closes as data pointed to underlying strength in the economy. The DJIA rose 152.51 points, or 0.68%, to 22,557.6, the S&P 500 gained 9.76 points, or 0.39%, to 2,529.12 and the Nasdaq added 20.76 points, or 0.32%, to 6,516.72. - Reuters (34-1)
In its latest announcement on the reorganisation, AHB told Bursa Malaysia that it and Affin Bank had inked a share sale agreement (SSA) to transfer the entire shareholdings held by AHB in four companies to Affin Bank (4-1)
MarketWatch: The S&P 500 ended slightly higher on Monday as financial stocks rose ahead of a Federal Reserve meeting, but the Nasdaq pared gains sharply as technology stocks lost ground late in the session. The DJIA rose 63.01 points, or 0.28%, to 22,331.35, the S&P 500 gained 3.64 points, or 0.15%, to 2,503.87 and the Nasdaq added 6.17 points, or 0.1 percent, to 6,454.64. - Reuters (89-0)
Tags / Keywords: M&A , Insurance , Banking , Affin Holdings Bhd , AXA Affin General Insurance Bhd
Tags / Keywords: Corporate News , Banking , Affin Holdings Bhd , AXA Affin General Insurance Bhd
KUALA LUMPUR: Hong Leong Investment Bank Research (HLIB) is “positive” with the latest announcement by Affin Holdings Bhd that it has obtained regulatory approval to transfer listing to Affin Bank.
KUALA LUMPUR: Affin Holdings Bhd has received approvals from the Finance Minister and Bank Negara to proceed with the banking group’s proposed reorganisation.
WITH the ongoing merger talks between RHB Bank Bhd and AMMB Holdings Bhd, coupled with Bank Negara’s push for the institutionalisation of banks, the question of which banks will be the next merger and acquisitions (M&A) candidates has resurfaced.