Affin gets nod for asset management unit sale

Affin Bank president and chief executive officer Datuk Wan Razly Abdullah Wan Ali said the divestment of AHAM will result in a RM1.06bil gain and the proceeds have been earmarked for special dividends and to reinvest into its core banking business.

PETALING JAYA: Affin Bank Bhd plans to dish out a special dividend to its shareholders upon the completion of the proposed divestment of Affin Hwang Asset Management Bhd (AHAM).

The bank received the green light from its shareholders yesterday to proceed with the disposal of its 63% stake in AHAM by Affin Hwang Investment Bank Bhd to Starlight Asset Sdn Bhd for RM1.42bil.