Affin Bank Bhd has received approval from the Securities Commission (SC) for a change in controller, fulfilling a key condition for its proposed RM50 million acquisition of Pheim Asset Management Sdn Bhd (Pheim AM).
In a Bursa Malaysia filing, the bank said the approval, granted on April 13, 2026, covers the change in control of Pheim AM, Pheim Islamic Asset Management Sdn Bhd and Pheim Unit Trusts Bhd as part of the proposed transaction.
The approval is subject to any conditions imposed by the SC.
Earlier this month, Affin Bank also obtained approval from Bank Negara Malaysia for the acquisition.
First announced in November 2025, the proposed deal involves acquiring 100% equity interest in Pheim AM, marking a strategic move to strengthen the bank’s asset management capabilities.
