June 27, 2012 / 12:31 AM / 6 years ago

MALAYSIA PRESS-Bank of East Asia stake in Affin not for sale-The Edge

The Bank of East Asia (BEA) dispelled speculation that it p lans to sell a 23.5 percent stake in Affin Holdings Bhd , a development that pours cold water on suggestions of a possible tie-up between the Armed Forces-backed bank and the Hong Leong group.

BEA chairman and chief executive David Li said on Tuesday that the Hong Kong-based bank in fact hopes to increase its presence in Affin.

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NOTE: Reuters has not verified these stories and does not

vouch for their accuracy.

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