Affin inks RM1.4bil merger with Hwang IB

KUALA LUMPUR: Affin Holdings Bhd has agreed to acquire the investment banking, asset management and futures dealing assets of HwangDBS (M) Bhd for RM1.36bil.

The group said on Wednesday it will buy Hwang Investment Bank for RM1.09bil, or 1.28 times the latter's book value of RM849.26mil as at Jan 31, 2013.

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Affin Holdings Bhd , Hwang-DBS Investment Bhd , Hwang Investment Management Bhd , Asian Islamic Investment Management Sdn Bhd , HDM Futures Sdn Bhd

   

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