Malaysia’s Sarawak State Secures Largest Stake in Affin Bank
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Malaysia’s Sarawak state has emerged as the largest shareholder in Affin Bank Bhd. after finalizing a long-delayed deal to acquire additional shares in the lender.
State-owned SG Assetfin Holdings Sdn signed a share purchase agreement on Friday to buy a bigger stake in the bank from the Armed Forces Pension Fund (LTAT) and its unit Boustead Holdings Bhd. The transaction brings the state’s ownership in Affin to 31% from 4.81% previously.