Affin Bank deal to be signed on Friday

 

Sarawak premier Abang Johari Openg previously said the Sarawak government made its initial investment because of Affin’s good performance. (Bernama pic)

PETALING JAYA: 

The signing ceremony for the Sarawak government’s acquisition of a majority stake in Affin Bank Bhd will take place on Friday, according to a statement from Affin Group.

It said the signing ceremony of the sale and purchase agreement will take place in Kuching at 2.30pm.

The Sarawak government is acquiring an additional 15% stake in Affin from the Armed Forces Fund Board (LTAT), which owns a 29.7% stake in the bank, while its wholly-owned unit Boustead Holdings has a 20.65% stake.

Last Saturday, Sarawak premier Abang Johari Openg said all matters related to acquiring the stake had been resolved, including meeting Bank Negara Malaysia requirements. - FMT