Thursday, August 5, 2010

Affin up on unit's Indonesian entry

KUALA LUMPUR: AFFIN HOLDINGS BHD []'s share price advanced on Thursday, Aug 5 after its unit Affin Bank Bhd made its first overseas foray with its proposed acquisition and subscription of an 80% stake in Indonesia's PT Bank Ina Perdana for an estimated RM138 million.

At 9.20am, Affin was up four sen to RM3.06 with 74,200 shares traded.

Affin Holdings said it wanted to tap into the growth potential in Indonesia especially with PT Bank Ina Perdana's niche positioning as a retail bank in the SME sector. This acquisition would fit in nicely with Affin Bank's long term plan to further grow its business and increase its shareholders value

No comments:

Post a Comment