Key Developments: AMMB Holdings Bhd (AMMB.KL)

AMMB.KL on Kuala Lumpur Stock Exchange

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Latest Key Developments (Source: Significant Developments)

AMMB Holdings Bhd's subsidiary to dispose AmFraser Securities Pte Ltd
Sunday, 24 Aug 2014 08:00pm EDT 

AMMB Holdings Bhd:Wholly-owned Singapore-based subsidiary, AmFraser International Pte Ltd (AmFIPL) enters into sale and purchase agreement with KGI Asia (Holdings) Pte Ltd (KGI), a 100 pct-owned subsidiary of KGI Securities Co. Ltd.Says for proposed disposal by AmFIPL of its 100 pct-owned stockbroking subsidiary, AmFraser Securities Pte Ltd.Says proposed disposal involves sale of 57,527,908 ordinary shares in AmFraser for indicative cash consideration of about S$38 mln.  Full Article

AMMB Holdings Bhd updates on final dividend
Thursday, 24 Jul 2014 08:00pm EDT 

AMMB Holdings Bhd:Says final single tier dividend of 16.9 pct for FY ended March 31, 2014 will be paid on Sep. 12.EX-date on Aug. 27.Entitlement date on Aug 29.  Full Article

AMMB Holdings Bhd declares final dividend
Monday, 19 May 2014 08:00pm EDT 

AMMB Holdings Bhd:Declares a final single tier ordinary dividend of 16.9 pct for the financial year ended March 31 of 0.169 ringgit per share.Payment to be determined later.  Full Article

AMMB Holdings Bhd's subsidiary announces strategic partnership with MetLife Inc for sales of equity interest
Tuesday, 29 Apr 2014 08:00pm EDT 

AMMB Holdings Bhd:Refer to announcement on April 28 in relation to proposed strategic partnership with MetLife, Inc. in AmLife Insurance Berhad and AmFamily Takaful Berhad, which involves sale of equity interests held by AMAB Holdings Sdn Bhd, a wholly-owned subsidiary, in each of AmLife and AmTakaful.Says to MetLife International Holdings, Inc., a wholly-owned subsidiary of MetLife, Inc. for an aggregate cash consideration of 812 mln Ringgit.Share Sale was completed on April 30.  Full Article

AMMB Holdings Bhd announces members' voluntary winding up of subsidiaries
Monday, 10 Feb 2014 07:00pm EST 

AMMB Holdings Bhd:Says it had commenced members’ voluntary winding-up of following indirect wholly-owned Singapore-incorporated subsidiaries.Fraser-AMMB Research Pte Ltd.Fraser Financial Services Pte Ltd.Says that the dissolution of Fraser-AMMB Research Pte Ltd and Fraser Financial Services Pte Ltd by way of members’ voluntary winding-up have taken effect on Feb. 11.  Full Article

AMMB Holdings Bhd sells AmLife stake to Metlife for $250 mln - Reuters
Thursday, 19 Dec 2013 08:04am EST 

AMMB Holdings Bhd:Says it will sell a 51 pct stake in its insurance arm AmLife Insurance for 812 million ringgit ($249 million) to U.S. insurer Metlife Inc - Reuters.Says it will retain a part share in AmLife and 51 percent of AmFamily Takaful Berhad.Says as part of the deal, MetLife will also enter an exclusive 20-year agreement to sell insurance and takaful products through AMMB's banking network across Malaysia.Says Morgan Stanley was the exclusive financial advisor to AMMB.  Full Article

AMMB Holdings Bhd Proposes Subordinated Notes Program - Business Standard
Wednesday, 4 Dec 2013 12:30pm EST 

AMMB Holdings Bhd:AmBank (M) Berhad wholly owned subsidiary of the company, has on Oct. 21, 2013 and Dec. 4, 2013 obtained approvals from Bank Negara Malaysia and Securities Commission Malaysia respectively to establish the Subordinated Notes Programme - Business Standard.Under the subordinated Notes Programme, AmBank is given the flexibility to issue Subordinated Notes during the availability period of the Subordinated Notes Programme based on the funding requirements of AmBank.The Subordinated Notes Programme has a tenor of up to 30 years from the date of the first issuance of the Subordinated Notes.Each tranche of the Subordinated Notes to be issued shall have a tenor of at least five years subject to their maturing on or prior to the expiry of the Subordinated Notes Programme.  Full Article

AMMB Holdings Bhd Declares Interim Dividend
Wednesday, 13 Nov 2013 11:00pm EST 

AMMB Holdings Bhd announced that the directors propose the payment of a interim single tier dividend of 7.2% for the financial year ending March 31, 2014. Payment date is on December 12, 2012.  Full Article

AMMB Holdings Bhd Looking To Sell 51% In Insurance Unit; Sees Manulife Financial Corp., MetLife Inc. and ACE Group As Probable Buyers-DJ
Wednesday, 18 Sep 2013 06:39am EDT 

Dow Jones reported that AMMB Holdings Bhd which had earlier sought to sell up to 70% in its life insurance business, is now looking to sell a smaller amount of up to 51%, after banking regulators expressed concerns about the extent of foreign ownership in the deal. AMMB short-listed global insurers Manulife Financial Corp., MetLife Inc. and ACE Group as buyers for the bulk of its conventional insurance business, and in its Islamic insurance arm or takaful earlier this year, in a deal that could have been worth as much as $600 million. Parties involved have yet to agree on the size of the stakes they will be bidding for. A final candidate will be presented to Bank Negara Malaysia by October for the deal to be completed by the end of this year.  Full Article

AMMB Holdings Bhd Does Not Proposes Dividend
Friday, 16 Aug 2013 12:40am EDT 

AMMB Holdings Bhd announced that no dividend has been proposed for the current first quarter ended June 30, 2013.  Full Article

Malaysia's AMMB to consolidate fund management units

KUALA LUMPUR, Sept 15 - Malaysia's AMMB Holdings will consolidate its fund management businesses into one unit to streamline and improve its operations, the financial services group said on Monday.

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