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AFFIN Holdings Bhd Extends Talks On DRB-Hicom Bhd's Stake In Bank Muamalat Malaysia Bhd-Reuters


Wednesday, 16 Jan 2013 07:05am EST 

Reuters reported that Affin Holdings Bhd, has obtained central bank approval to extend negotiations on buying a stake in DRB-Hicom Bhd's 70% owned Bank Muamalat Malaysia Bhd until March 31, according to stock exchange filings. This gives another three months from the previous deadline for completion after Affin was cleared by the authority to start the talks on August 16, 2012. The deal follows the completion of DRB-Hicom's purchase of its 70% stake in Bank Muamalat on October 22, 2008, after which it was required by the central bank to cut its holding to 40%. 

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