EPF ceases to be a substantial shareholder of Affin Bank

KUALA LUMPUR: The Employees Provident Fund (EPF) is no longer a substantial shareholder in Affin Bank Bhd.

In a filing with Bursa Malaysia Securities, Affin said EPF sold three million shares on April 12, and ceased to be a substantial shareholder in the company.

Details on transaction value were nto disclosed.

The Armed Forces Fund Board (LTAT) is in the midst of discussions to divest some of its interest in Affin to the Sarawak state government.

LTAT has 29.7 per cent stake in Affin while it's wholly-owned unit Boustead Holdings Bhd owns 20.65 per cent.

The Sarawak state government, which currently owns 4.95 per cent stake in Affin Bank, reportedly wants to take a significant stake in Affin Bank, potentially raising it to 30 per cent.

Affin Bank president and group chief executive officer Datuk Wan Razly Abdullah said discussions between its major shareholders Sarawak state and LTAT were still ongoing.

It last traded at RM2.46 a share.


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