KUALA LUMPUR (Sept 23): Affin Bank Bhd (KL:AFFIN) was one of the top five gainers on Bursa Malaysia in early trade on Monday, following reports that Bank Negara Malaysia has given its nod to the Sarawak government to acquire a majority stake in the banking group.
Reports from the New Straits Times and the Borneo Post over the weekend indicate that an official announcement regarding the acquisition is expected within a week.
At 10.20am, the stock gained 14 sen or 5% to settle at RM3.01, valuing the group at RM7.23 billion. About 3.5 million shares changed hands.
In July, Sarawak Premier Tan Sri Abang Johari Tun Openg told The Edge that Sarawak expects to formalise a deal to raise its stake in Affin Bank to about 30% in about a month, from 4.8% now.