Affin Holdings Bhd has denied that it is in talks with AMMB Holdings Bhd over a possible takeover by the latter.
Affin deputy chairman Lodin Wok Kamaruddin said the banking group was not in talks with anyone with regards to any acquisition or divestment of its businesses, except for Affin's negotiations with Hwang DBS Investment Bank Bhd over the acquisition of the latter's investment banking unit.
"I can confirm that we are in no other M&A [merger and acquisition] talks at the moment," he told reporters after the company AGM on Monday.
Lodin was responding to a news report last week that AMMB was looking at taking over Affin and Bank Muamalat Malaysia Bhd . -The Edge
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($1 = 3.0485 Malaysian ringgit)
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