September 30, 2016 4:16 AM ET

Banks

Company Overview of Asian Finance Bank Berhad

Company Overview

Asian Finance Bank Berhad operates as an Islamic bank in Malaysia. The company offers retail banking services, such as home and personal financing, as well as current, savings, foreign currency, and general investment accounts; corporate and commercial banking services, including trade, contract, capital goods, asset purchase, and project financing; asset management services for structured portfolios, liquidity/cash management funds, and structured investments, as well as investment strategy mechanisms covering asset classes, including shipping, marine, private and public equity, aviation, hedge funds, biotechnology, and real estate; and money market and investment products. It also offers i...

2nd Floor

Podium Block

Kenanga International

Jalan Sultan Ismail

Kuala Lumpur,  50250

Malaysia

Founded in 2007

Phone:

60 3 2079 1000

Fax:

60 3 2079 1100

Key Executives for Asian Finance Bank Berhad

Chief Financial Officer
Chief Operating Officer
Head of Corporate Affairs and Human Resource
Chief Internal Auditor
Head of Shariah, and Secretary and Member of Shariah Committee
Compensation as of Fiscal Year 2016.

Asian Finance Bank Berhad Key Developments

MIDF And AFB Merger Reportedly Not In Sight

A merger of Malaysian Industrial Development Finance Berhad (MIDF) and Asian Finance Bank Berhad (AFB) is unlikely to happen now. It is understood that while some of AFB's shareholders remain keen to pursue the merger and may ask Bank Negara Malaysia for an extension of time to keep negotiating, so far things have stayed quiet.

MIDF And AFB Reportedly Still In Merger Talks

Malaysian Industrial Development Finance Berhad (MIDF) and Asian Finance Bank Berhad (AFB) merger could be off, as the parties have missed a February deadline for a potential deal, industry sources said. A source familiar with the matter stated hat the merger discussions are still ongoing, notwithstanding the missed deadline. The source stated: "It's taking much longer than expected due to certain complications. They are still negotiating. MIDF is waiting for AFB's FY2015 audited accounts to be out so they can come up with a final valuation on the bank." Two of AFB's four shareholders, namely Qatar Islamic Bank (Q.S.C.) (DSM:QIBK) with a 66.67% stake and Global MENA Financial Assets Limited - Financial Assets Bahrain W.L.L. (6.67%), are in talks for their stakes to be acquired by MIDF as part of the merger plan.

Due Diligence Completed Between AFB And MIDF

Asian Finance Bank Berhad (AFB) shareholders are looking to exit and are currently in talks for their stakes to be acquired by Malaysian Industrial Development Finance Berhad (MIDF), via a potential merger. The due diligence was completed a few weeks ago. AFB, in an email response to questions, acknowledges that there are negotiations at the shareholder level but does not make specific mention of MIDF.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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