, Malaysia

Talks of BEA divesting its shares push Affin to highest since August

Shares of Affin Holdings Bhd surged to RM3.38, on speculation that Bank of East Asia could be divesting its 23.5% stake in Affin.

 

It is the highets price since August 2011.

Kenanga Investment Research had maintained its Outperform rating on Affin with an unchanged target price of RM4.30, based on 1.0 times FY13 price-to-book value, implying 11.7 times price-to-earnings ratio (PER) of FY13E.

"BEA is said to have explored options to retain capital, including the sale of its non-core assets according to a few reports. Any sales could include its 23.5% investment stake in Affin, in our view," said the research house.

For more.

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Tokenization of trade assets to bridge financing gap
Blockchain technology could decentralize finance operations and allow easier credit access.
BCA walks the talk on sustainable finance
The Indonesian bank considers the environment and governance in its lending decisions.