AFFIN Holdings Berhad (AHB) was incorporated in Malaysia on 31
May 1975 as a private limited company under the name of I.M.A Sdn
Bhd. It started off as a credit company providing hire-purchase
financing for motor vehicles. On 15 September 1978, it changed its
name to AFFIN Motor and Credit Finance (Malaysia) Sdn Bhd.
Subsequently it changed its name again to AFFIN Credit (Malaysia)
Sdn Bhd on 16 January 1979 and thereafter to AFFIN Holdings Sdn
Bhd on 2 March 1991. It was converted into a public company under
its present name on 6 May 1991. In the last decade, AHB has
changed substantially in terms of group organisation structure
through a series of mergers and acquisitions which had been
undertaken to facilitate AHB's status as the flagship financial
services subsidiary of its major shareholder, Lembaga Tabung
Angkatan Tentera (LTAT).
1991
- Listed on Bursa Malaysia on 4 November 1991 with AFFIN Finance
Berhad and AFFIN Merchant Bank Berhad (now known as AFFIN
Investment Bank Berhad) as subsidiaries and AXA AFFIN Assurance
Berhad (now known as AXA AFFIN General Insurance Berhad) as an
associate company
1992
- Undertook a joint corporate exercise with Boustead Holdings
Berhad to acquire 100% interest in Perwira AFFIN Bank
1997
- Acquired Antara Discount Berhad (now known as AFFIN Discount
Berhad) and Telenas (Malaysia) Sdn Bhd (now known as AFFIN
Moneybrokers Sdn Bhd)
1998
- Expanded its operations to include stockbroking business
through 55% interest in AFFIN-UOB Securities Sdn Bhd (now known
as AFFIN Securities Sdn Bhd)
1999
- Acquired ACF Holdings Bhd and Asia Commercial Finance (M) Bhd
from the Lion Group
2001
- Acquired BSN Commercial Bank Berhad
2004
- Acquired United Overseas Bank (UOB)'s 45% stake in AFFIN
Securities Sdn Bhd
2005
- Acquired the remaining 37.88% interest in AFFIN-ACF Holdings
Berhad (now known as AFFIN-ACF Holdings Sdn Bhd) in January 2005
- Completed the merger of AFFIN Bank Berhad and AFFIN-ACF
Finance Berhad (now known as AFFIN-ACF Capital Sdn Bhd) on 1 June
2005
- Acquired the remaining 36.84% interest in AFFIN Merchant Bank
Berhad (now known as AFFIN Investment Bank Berhad) from MISC
Enterprise Holdings Sdn Bhd in December 2005
2006
- AFFIN Islamic Bank Berhad commenced its business operation on
3 April 2006
- AXA AFFIN Life Insurance Berhad (51% owned by AFFIN Holdings
Berhad) acquired life insurance business of Tahan Insurance
Malaysia Berhad in June 2006 and commenced its business operation
on 1 July 2006
- Completed the transfer of discount house business of AFFIN
Discount Berhad to AFFIN Investment Bank Berhad in July 2006. On
the same date, AFFIN Investment Bank also acquired AFFIN Fund
Management Sdn Bhd and AFFIN Trust Management Berhad from AFFIN
Holdings Berhad to form an Investment Bank
2007
- The Stockbroking Business of AFFIN Securities Sdn Bhd is
transferred to AFFIN Investment Bank Berhad on 1 January 2007 to
form a full fledged Investment Bank
- AXA AFFIN Life Insurance Berhad was officially launced on 30
January 2007
- The asset and liabilities of AFFIN Trust Management Berhad was
transferred to AFFIN Fund Management Berhad with effect from 1
July 2007
- AHB entered into an agreement with The Bank of East Asia,
Limited on 18 September 2007 for the placement of new ordinary
shares of RM1 each representing up to 15% of the issued and
paid-up capital in AHB. Subsequently, The Bank of East Asia,
Limited became one of the substantial shareholders of AHB
2008
- AFFIN-ACF Holdings Berhad (a 100% subsidiary of AFFIN Holdings
Berhad) had entered a share sale agreement with Commerce
International Group Berhad on 10 November 2008 for the disposal
of 100% equity interest in AFFIN Insurance Brokers Sdn Bhd
2014
- Acquired 100% equity interest in HWANG DBS Investment Bank Berhad, which in turn owns the following entities:
- 70% of Hwang Investment Management Berhad
- 49% of Asian Islamic Investment Management Sdn Bhd
- 100% of HDM Futures Sdn Bhd
- 100% of HDM Nominees (Tempatan) Sdn Bhd
- 100% of HDM Nominees (Asing) Sdn Bhd
For a total purchase consideration of RM 1,363 million (subject to a net asset adjustment).
AFFIN Group is a major home-grown financial services
conglomerates. The Group's primary activities focus on the
provision of commercial, islamic and investment banking services,
money broking, fund management, underwriting of general and life
insurance business. The prominent shareholder of AFFIN Holdings
Berhad is Lembaga Tabung Angkatan Tentera, the nation's premier
superannuation fund manager for the armed forces.
