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Article: Affin on expansion trail
- Article from:
- New Straits Times
- Article date:
- April 17, 2008
- Author:
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Adeline Paul Raj
New Straits Times
04-17-2008
Affin on expansion trail
Byline: Adeline Paul Raj
Edition: Main/Lifestyle
Section: Business Times
Type: Company
AFFIN Holdings Bhd (AHB), owner of Affin Bank, is ready to expand and could spend about a tenth of shareholders' funds to buy a bank at home or in the region.
It sees Vietnam, Thailand and Indonesia as good regional prospects.
"We're looking at probably 10 per cent of our shareholders' funds for a single acquisition, so it doesn't pose a big risk to the whole group," the bank's managing director, Datuk Abdul Hamidy Hafiz, said.
AHB, 20 per cent owned by Hong Kong's Bank of East Asia Ltd (BEA), is already on the lookout for potential ...