CIMB Research: Affin’s plan to acquire Bank Muamalat progressing

According to CIMB Equities Research, mergers and acquisitions (M&As) are still high on Affin Holdings's agenda to support its future growth. Hence, Affin is still planning to acquire Bank Muamalat. The banking group has submitted the offer and is waiting for the response from the owner of Bank Muamalat. It could also be interested in bidding for HwangDBS Investment Bank. CIMB Research said Affin is now reportedly less keen to purchase Bank Ina Perdana in Indonesia due to the 40% shareholding cap imposed by the Indonesian central bank.

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