KUALA LUMPUR: Sarawak Premier Tan Sri Abang Johari Tun Openg has dismissed as speculation a report suggesting that the state is interested in acquiring a stake in AMMB Holdings Bhd (AmBank Group) for the purpose of merging it with its existing interest in Affin Bank Bhd.
Speaking at the RECODA Raya Rindok event hosted by the Regional Corridor Development Authority (RECODA), Abang Johari clarified that the Sarawak government has not appointed any representative to initiate talks with AmBank.
“If you want to propose, you should ask her father first… but in this context, the father doesn’t know about the matter, so how can you propose?” he quipped, addressing the rumour with a touch of humour. “Jokes aside, I was also surprised when I read the report… The report is just speculation. I have no comment because I don’t know about that.”
Despite refuting the claim, Abang Johari noted that Sarawak remains open to discussions with any party interested in collaborating with the state government.
The Edge Malaysia, in its April 14 edition, had reported that the Sarawak government was exploring the possibility of acquiring a stake in AmBank Group, with the intention of merging it with Affin Bank, in which the state holds a 31.25% interest via Sarawak-based entities.
Citing unnamed sources, the report suggested that Sarawak aimed to eventually hold no more than a 20% stake in the merged entity, which would rank as the country’s fourth-largest banking group by assets. It further noted that informal approaches were made to AmBank’s substantial shareholder, Tan Sri Azman Hashim, who holds an 11.83% stake, although no formal negotiations had begun.
In addition to AmBank, Sarawak is reportedly exploring other options in the banking sector, including DRB-Hicom Bhd’s 70%-owned Bank Muamalat Malaysia Bhd, and Kuwait Finance House (Malaysia) Bhd, which is said to be seeking buyers for its retail loan portfolio.–THE EDGE
