Published on 11 May 2015
RAM Ratings is of the view that the possible
sale of a minority interest in AFFIN Hwang Investment Bank Berhad to
Japan’s Daiwa Securities Group Inc., as intimated in a statement to
Bursa Malaysia dated 6 May 2015, will not impact the Bank’s
AA3/Stable/P1 financial institution ratings. “We believe that the deal,
if materialised, will strengthen the existing partnership between AFFIN
Hwang and Daiwa as well as their respective capabilities,” highlights
Sophia Lee, Co-Head of RAM’s Financial Institution Ratings.
Additionally, the propensity of Lembaga Tabung
Angkatan Tentera, AFFIN Hwang’s ultimate parent, to provide
extraordinary support is expected to remain intact subsequent to the
sale. This is premised on the Bank’s continued strategic importance as
the investment-banking arm of AFFIN Holdings Berhad.
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