Ambank, 1Mdb Scandal, Ammb Holdings Bhd

Ambank, 1Mdb Scandal

AmBank looking to raise around RM810m via private placement | Malay Mail

AmBank looking to raise around RM810m via private placement | Malay Mail

2/4/2021 5:36:00 AM

AmBank looking to raise around RM810m via private placement | Malay Mail

KUALA LUMPUR, April 2 — Malaysian bank AMMB Holdings Bhd (AmBank) is looking to raise about RM810 million through a private placement, it said in a bourse filing. The placement comes after the bank said in February it will pay the Malaysian government RM2.83 billion to settle claims linked to a...

Friday, 02 Apr 2021 09:04 AM MYTA man wearing a protective mask walks past an AmBank branch in Kuala Lumpur September 9, 2020. — Reuters picSubscribe to ourTelegramchannel for the latest updates on news you need to know.KUALA LUMPUR, April 2 — Malaysian bank AMMB Holdings Bhd (AmBank) is looking to raise about RM810 million through a private placement, it said in a bourse filing.

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The placement comes after the bank said in February it will pay the Malaysian government RM2.83 billion to settle claims linked to a massive financial scandal at state fund 1MDB, a hefty payment that is expected to have a material impact on the group's earnings.

The bank said late on Thursday it has proposed a placement of 300 million new shares at an illustrative issue price of RM2.70 per placement share.Of that, RM806 million is intended for working capital purposes including injection of capital into the group's operating subsidiaries over a 12-month period, it said. headtopics.com

The bank also announced in a separate filing that it is assessing a goodwill impairment of RM2.09 billion, that if recognised, will be reflected in the earnings for its fourth quarter ended March 31. — Reuters Read more: Malay Mail »

Total of 2,500 food baskets flown to Labuan on Thursday (June 24)

SUBANG (Bernama): A total of 2,500 food baskets were flown to Labuan on Thursday (June 24) to be distributed to residents affected by the implementation of the enhanced movement control order.