Japan's Daiwa keen on minority stake in Malaysia's Affin Hwang Investment Bank

[KUALA LUMPUR] Japanese's Daiwa Securities Group Inc is keen to buy a minority stake in Malaysia's Affin Hwang Investment Bank Bhd, parent Affin Holdings Bhd said on Wednesday.

Affin, Malaysia's smallest lender by market value, said on Wednesday the central bank had no objection in principle to it starting negotiations with Daiwa Securities. "Upon concluding negotiations, Daiwa and Affin would be required to obtain the prior approval of Bank Negara Malaysia pursuant to the Financial Services Act 2013, before entering into any agreement to effect the proposal," Affin said in a local stock exchange filing.

REUTERS