Posted by TheContrarian > 2024-01-08 12:09 | Report Abuse

Took second batch profit at 2.42.

Posted by TheContrarian > 2024-01-08 12:11 | Report Abuse

Previously at 2.00 no one had the balls to buy.

Posted by ZenSen > 2024-01-08 12:15 | Report Abuse

Waiting for RM3

Posted by TheContrarian > 2024-01-08 12:39 | Report Abuse

Everyone should wait at RM3.

Posted by LubeTrader > 2024-01-08 12:39 | Report Abuse

NTA 4.69
You make your decision whether to sell or collect.

Posted by Yippy68 > 2024-01-08 13:32 | Report Abuse

May be foreign fund came in as our ringgit is very weak. 1 USD = ringgit 4.66 , 10 billions usd is enough to stir the bursa to a high tide.

Posted by TheContrarian > 2024-01-08 14:27 | Report Abuse

@Yippy68, absolutely right, foreign funds are aggressively buying Affin.

Posted by TheContrarian > 2024-01-08 15:18 | Report Abuse

Sarawak government which presently holds 4.9% hopes to acquire additional 15% stake from LTAT.

Posted by TheContrarian > 2024-01-08 17:56 | Report Abuse

Anyone bought Affin today?

Posted by jluck > 2024-01-08 21:53 | Report Abuse

Looking forward for 3++ plus dividend.

Posted by troy88 > 2024-01-09 09:14 | Report Abuse

Congrats to holders!

Posted by beluga > 2024-01-09 09:20 | Report Abuse

It’s been reported in The Edge Malaysia weekly business news titled “Sarawak on the verge of raising stake in Affin Bank”

The article erred in regard that the Banking and Financial Institutions Act 1989 limit institutional shareholdings to 20%. BFIA 1989 has been repealed and superseded by Financial Services Act 2013.

I believe Sarawak will want to own more than just 20% - 30% shareholding . 20%-30% is “meaningless” for Sarawak’s ambition to have their own commercial bank. I think any offer from Sarawak will likely to trigger the mandatory general offer threshold. Else Bank of East Asia will be outraged . Since Boustead purchased insignificant amount of Affin shares last month, LTAT & BHB most likely will be persons acting in concert (PAC) under some SCA or SSA (agreement; LTAT/BHB retains some stake) or as reported in the news some sort of MoU. Under FSA, acquisition of more than 5% shareholdings requires consent from BNM and for controlling shareholding or 50% above, requires approval from Finance Minister and BNM .

The Sarawak Premier has said too many times that they want to have their own (state owned) commercial bank. Having 20%~ 30% will get you the most 2 board seats representation , if we gauge based on BEA previous investment in Affin. My prediction is Sarawak will go for more than 50% and offer a buyout.

Posted by LubeTrader > 2024-01-09 10:34 | Report Abuse

I tend to see the same outcome as beluga on his prediction that Sarawak will not be content with just a 20% stake. I've always believed small banks like Affin are targets of M&A. More to come.

Posted by aklobi > 2024-01-09 16:04 | Report Abuse

Long overdue for Affin's stock movement. MYR 3 should be the minimum, yet here we are. Congrats to my fellow Affin holders, especially those who held the stock for a very long time, and kept on accumulating.

Posted by TheContrarian > 2024-01-11 20:56 | Report Abuse

EPF selling, going to drift down.

Posted by TheContrarian > 2024-01-13 11:01 | Report Abuse

Affin forum has gone quiet again.

Posted by rohank71 > 2024-01-13 19:13 | Report Abuse

when EPF sells should we also sell, how to beat the BIG whale 🐋 when they start to sell

Posted by rohank71 > 2024-01-13 19:14 | Report Abuse

anyone can advice.

Posted by rohank71 > 2024-01-13 19:14 | Report Abuse

May be deal will take longer and we can buy back later at below 2.10

Posted by TheContrarian > 2024-01-14 00:12 | Report Abuse

The pricing of the deal may turn out to be a big disappointment just like the initial pricing of the earlier 4.95% transacted.

Posted by speakup > 2024-01-14 08:22 | Report Abuse

sarawak govt is a wisest govt. 100% guarantee Abang Johari sure dapat discount for Affin

Posted by TheContrarian > 2024-01-14 13:53 | Report Abuse

Last time Sarawak squeezed LTAT for a discounted price of RM1.97 when the then market price was above RM2.00 and shortly later even received dividend of 7.77 sen.

Posted by rohank71 > 2024-01-14 14:17 | Report Abuse

looks like the deal with be done at 2.00 level and hence justifies EPFs sell down.

Posted by TheContrarian > 2024-01-14 14:21 | Report Abuse

I think it will be around RM2.30 because it's a bigger stake.

Posted by Bursino > 2024-01-14 14:44 | Report Abuse

You mean LTAT likely to sell it's Affin shares at 0.49x PB? 😁

Posted by speakup > 2024-01-14 15:23 | Report Abuse

Yes. There is a saying Beggars can't be Choosers

Posted by TheContrarian > 2024-01-14 15:43 | Report Abuse

@Bursino, they already sold at 0.4x PB earlier lah.

Posted by TheContrarian > 2024-01-14 15:59 | Report Abuse

The transaction values Affin Bank at 0.4 times its book value. The price is relatively cheap considering that banking transactions are usually done at a higher valuation of closer to one time book value.

Having said that, Affin Bank’s shares have historically traded at a discount to other financial groups listed on Bursa Malaysia. That is because of its major shareholders, LTAT and Boustead Holdings Bhd, and the close nexus the entities shared with the powers that be in Putrajaya prior to 2018.

Posted by Bursino > 2024-01-14 18:05 | Report Abuse

Affin undergone detox. Bank of East Asia has 24% share holdings. Guoco Group is a substantial Shareholder. How will it play out for the Sarawak Government should it decide to acquire controlling stake in Affin?

Posted by stockraider > 2024-01-14 18:59 | Report Abuse

Swk govt is willing to buy upto 20% just to punt Affin Bank loh!
At the moment Affin is undervalue loh!
Top shareholders now are:

1. Ltat & Boustead 48%
2. BEA......................... 24%
3.Swk Govt............... 5%
Total;............................77%

If swk govt increase its holding to 20% from 5% it will come from;

1 Ltat & bstead .........8%
2. BEA............................4%
3. Public collect.........8%

This will mean ;

Ltat & bstead................. ...40%
BEA......................................... 20%
Swk Govt..............................20%
Total .....................................80%

Subsequently Affin Bank will be merge with a potential large bank at above Rm 4.00 per share most likely with the following merger candidates

1. Maybank
2. Public Bank
3.Cimb
4. Hlbank
5 Rhb bank
6. Ambank
7. Alliance Bank

With most fit HLbank & Ambank loh!

Posted by TheContrarian > 2024-01-14 19:14 | Report Abuse

OMG! The Jinx has reappeared! There's no more hope for Affin. Price will drift down.

Posted by stockraider > 2024-01-14 19:17 | Report Abuse

Yes u can sell 1st b4 too late loh!

Posted by TheContrarian > 1 minute ago | Report Abuse

OMG! The Jinx has reappeared! There's no more hope for Affin. Price will drift down.

Posted by TheContrarian > 2024-01-14 21:55 | Report Abuse

Posted by TheContrarian > 2023-06-06 15:02 | Report Abuse

LTAT sold, Boustead sold, EPF now selling. I just bought at RM1.85.

Posted by TheContrarian > 2024-01-15 09:38 | Report Abuse

Took some profits at 2.40.

Posted by TheContrarian > 2024-01-17 17:44 | Report Abuse

Affin closed at 2.45, tomorrow to assault 2.50.

Posted by aklobi > 2024-01-17 17:45 | Report Abuse

I had an incling there was still way up to go.. congrats all. Affin is deserving at least MYR 3

Posted by Bursino > 2024-01-17 18:07 | Report Abuse

Like other banks, the price at 3.50 is 0.75x PBV. Affin will see improved earnings with Affin AXA - the non profit contributing insurance arm hived off

Posted by Bursino > 2024-01-17 18:08 | Report Abuse

I am an interested party. I own Affin shares.

Posted by stockraider > 2024-01-17 20:10 | Report Abuse

See I told U....the best bank to invest in affin bank mah!

Posted by stockraider > 3 days ago | Report Abuse

Swk govt is willing to buy upto 20% just to punt Affin Bank loh!
At the moment Affin is undervalue loh!
Top shareholders now are:

1. Ltat & Boustead 48%
2. BEA......................... 24%
3.Swk Govt............... 5%
Total;............................77%

If swk govt increase its holding to 20% from 5% it will come from;

1 Ltat & bstead .........8%
2. BEA............................4%
3. Public collect.........8%

This will mean ;

Ltat & bstead................. ...40%
BEA......................................... 20%
Swk Govt..............................20%
Total .....................................80%

Subsequently Affin Bank will be merge with a potential large bank at above Rm 4.00 per share most likely with the following merger candidates

1. Maybank
2. Public Bank
3.Cimb
4. Hlbank
5 Rhb bank
6. Ambank
7. Alliance Bank

With most fit HLbank & Ambank loh!

It is coming mah!

Posted by jluck > 2024-01-18 00:17 | Report Abuse

This time abang j kasih push sikit.

Posted by beluga > 2024-01-18 02:09 | Report Abuse

https://youtu.be/dfaD8Xhflqc?so=NuKFeMizFEeM3JDX

It is so obvious that Sarawak will make an offer that will trigger the mandatory general offer .

I am perplexed that the market STILL can’t read all the obvious signs.

Posted by beluga > 2024-01-18 02:13 | Report Abuse

https://youtu.be/trFB1_PjMhw?si=pncQHST5f_-N36X5

Posted by M55555 > 2024-01-18 11:34 | Report Abuse

May be EPF know something we don't . Why EPF keep disposing

Posted by M55555 > 2024-01-18 11:43 | Report Abuse

How much will be the cost of take over if real ?

https://www.thestar.com.my/business/business-news/2023/04/13/ltat-sells-11256-million-shares-in-affin-bank-to-sarawak-state-entity

In a filing with Bursa Malaysia today, the bank said it sold the shares, representing 4.95 per cent of the total issued shares, for a cash consideration of RM1.97 per share.

Posted by rohank71 > 2024-01-19 00:02 | Report Abuse

#M5555, I think U r 1Y behind. pls come to current times. Good luck ....I hope I woke u up from ur 9 mths of sleep. congrats for ur newborn baby.

Posted by M55555 > 2024-01-19 00:38 | Report Abuse

Sorry if it caused some confusion. Just i paragraph i cut from the 13th APRIL 2023 news on the price of the share Sarawak state bought during that period. Was thinking how much would Sarawak state willing to pay for a larger stake ? If it is real that Sarawak state want to acquire the controlling stake and from who ?

Posted by TheContrarian > 2024-01-19 04:14 | Report Abuse

Sarawak wish to have a bank under its control but Federal government wouldn't allow that, otherwise every other state also wish to do so. At best Sarawak gets up to 20% stake in Affin which the current legislation allows. Sarawak wants to pay peanuts and of course LTAT wants as much as possible. Probably price will be somewhere between RM2.30 and RM2.40.

Posted by speakup > 2024-01-19 07:34 | Report Abuse

Banks are very tightly regulated by BNM. Easier for Sarawak to take over Sarawak biggest conglomerate CMSB than Affin.

Posted by TheContrarian > 2024-01-19 08:58 | Report Abuse

Sarawak wishes for a bank ...... their very own bank ....... the closest to getting a bank is holding a substantial stake in a small bank like Affin.

Posted by Bursino > 2024-01-19 09:15 | Report Abuse

I think the price is not an issue. Can Sarawak get consent from the Finance Minister to hold a stake, a comfortable stake whereby Sarawak can determine how the bank operates.