Latest news with #AffinGroup
The Star
6 days ago
- Business
- The Star
Affin Group debuts in US bond market with US$300mil note issue
KUALA LUMPUR: Affin Group made its debut in the US dollar bond market with the issuance of the senior unsecured notes with a nominal value of US$300 million (RM1.27 billion) under its US$2 billion (RM8.46 billion) euro medium term note (EMTN) programme. The bank said in a statement today that the issuance follows the establishment of the EMTN programme and Affin's recent inaugural international credit rating of A3 (Stable) from Moody's Investor Services, Inc. "The notes were priced at 105 basis points (bps) over the five-year US Treasury yield, offering a fixed rate of 5.112 per cent per annum and rated A3 (Stable) by Moody's Investor Services Inc, affirming the bank's robust credit profile and stable outlook. "The issuance attracted strong global demand, with the final order book exceeding US$1 billion across 67 investor accounts, representing 3.5 times oversubscription,' it said. Affin said the distributions geographically comprised 87 per cent to Asia, 11 per cent to Europe, Middle East, and Africa (EMEA), and two per cent to offshore US investors. It said that by investor type, the notes were allocated 72 per cent to asset, fund managers/insurance, 24 per cent to banks, and four per cent to private banks/others. Meanwhile, Affin Group president and group chief executive officer Datuk Wan Razly Abdullah said the bank's debut in the US dollar bond market marks a significant progression in the group's capital markets strategy, drawing strong global investor demand. "The overwhelming response underscores investor confidence in our fundamentals and validates the credibility we have established. "Guided by the Affin Axelerate 2028 (AX28) Plan, the group remains committed to unlocking long-term value through unrivalled customer service, digital leadership and responsible banking with impact,' he added. - Bernama
New Straits Times
6 days ago
- Business
- New Straits Times
Affin makes first foray into US dollar bond market, raises US$300mil
KUALA LUMPUR: Affin Group has raised US$300 million through its first-ever US dollar bond issuance, marking a key milestone as it taps into the global capital market. The senior unsecured notes, issued under the group's US$2 billion Euro Medium Term Note (EMTN) programme, drew strong interest from international investors, with demand exceeding US$1 billion, more than three times the offer size. Affin president and group chief executive officer Datuk Wan Razly Abdullah said the deal reflects growing investor confidence in the bank's fundamentals. "The overwhelming response underscores investor confidence in our fundamentals and validates the credibility we have established," he said in a statement. The notes were priced at a fixed rate of 5.112 per cent per annum or 105 basis points above the five-year US Treasury yield. They are rated A3 with a stable outlook by Moody's Investor Services Inc, following Affin's recent international credit rating. Most of the notes were taken up by Asian investors, accounting for 87 per cent, followed by 11 per cent from Europe, the Middle East and Africa and two per cent from offshore US accounts. By investor type, fund managers and insurers took the lion's share at 72 per cent, followed by banks at 24 per cent and private banks and others with four per cent. Affin said the EMTN programme gives it greater flexibility to raise funds in foreign currencies, supporting its broader push to grow internationally. The notes will be listed on the Singapore Exchange. Affin Hwang Investment Bank Bhd, HSBC, MUFG, and Standard Chartered are joint lead managers and bookrunners for the issuance, with DBS Bank Ltd acting as co-manager.
The Sun
6 days ago
- Business
- The Sun
Affin Group debuts in US bond market with US$300m note issue
KUALA LUMPUR: Affin Group made its debut in the US dollar bond market with the issuance of the senior unsecured notes with a nominal value of US$300 million (RM1.27 billion) under its US$2 billion (RM8.46 billion) euro medium term note (EMTN) programme. The bank said in a statement today that the issuance follows the establishment of the EMTN programme and Affin's recent inaugural international credit rating of A3 (Stable) from Moody's Investor Services, Inc. 'The notes were priced at 105 basis points (bps) over the five-year US Treasury yield, offering a fixed rate of 5.112 per cent per annum and rated A3 (Stable) by Moody's Investor Services Inc, affirming the bank's robust credit profile and stable outlook. 'The issuance attracted strong global demand, with the final order book exceeding US$1 billion across 67 investor accounts, representing 3.5 times oversubscription,' it said. Affin said the distributions geographically comprised 87 per cent to Asia, 11 per cent to Europe, Middle East, and Africa (EMEA), and two per cent to offshore US investors. It said that by investor type, the notes were allocated 72 per cent to asset, fund managers/insurance, 24 per cent to banks, and four per cent to private banks/others. Meanwhile, Affin Group president and group chief executive officer Datuk Wan Razly Abdullah said the bank's debut in the US dollar bond market marks a significant progression in the group's capital markets strategy, drawing strong global investor demand. 'The overwhelming response underscores investor confidence in our fundamentals and validates the credibility we have established. 'Guided by the Affin Axelerate 2028 (AX28) Plan, the group remains committed to unlocking long-term value through unrivalled customer service, digital leadership and responsible banking with impact,' he added.
The Star
20-05-2025
- Business
- The Star
Affin Bank cautious yet confident amid volatility
Affin Bank president and group CEO Datuk Wan Razly Abdullah PETALING JAYA: Affin Bank Bhd recorded double-digit year-on-year (y-o-y) growth in pre-tax profits to RM178.2mil for its first quarter ended March 31, 2025 (1Q25). The 23.7% increase was attributed to higher net income of RM39.4mil and a stronger share of results from associates amounting to RM21mil. 'Our 1Q25 performance reflects continued execution of the Affin Axelerate 2028 Plan, with pre-tax profits rising 23.7% y-o-y. 'This was underpinned by higher net interest income, an improved funding mix, and stronger contributions from associates,' Affin Group president and group CEO Datuk Wan Razly Abdullah said in a statement. 'Amid a persistently tight monetary environment and ongoing global macroeconomic headwinds, we continued to exercise prudent cost and credit discipline. 'While we remain cautious on the near-term outlook due to external volatility, we remain confident in our ability to navigate the landscape, supported by healthy asset quality, a well-diversified balance sheet, and disciplined execution,' he added. The bank's gross loans and financing grew 7.1% y-o-y to RM72.9bil, compared to RM68bil as of Mar 31, 2024. Customer deposits rose by 5.2% to RM75.5bil, while current account and savings account (CASA) ratio improved significantly to 32.2% as of March 31, 2025, up from 24.9% a year ago. 'Our CASA ratio surpassed financial year 2025 (FY25) target of 31%, as a result of our continued efforts to lower the group's cost of funds. 'We expect the momentum in CASA growth to snowball into lower cost of funds and net interest margin expansion,' Wan Razly said. Net interest income gained 6.4% to RM206mil, compared to RM193.7mil in the preceding financial quarter. Non-interest income came in at RM140.1mil, a slight decrease of 1.7% or RM2.4mil from RM142.5mil in the previous corresponding period. The bank said it has a strong business pipeline, which includes financial advisory services and debt capital market deals. Wan Razly highlighted Affin's recent lead role in financing of Macrovalue's acquisition of Cold Storage Singapore, adding that many more landmark deals are expected on this front. 'Our recent collaboration with MUFG Bank (M) Bhd, the fifth-largest bank in Asia, underscores our commitment to providing tailored solutions, facilitating cross-border trade and investment, and expanding our expertise in key areas, including Islamic finance, green finance, and digital transformation,' he said. 'By leveraging our deep market knowledge and MUFG's global network, we are unlocking new opportunities for our customers and business partners, helping them scale in an increasingly interconnected global economy,' he added. Meanwhile, the bank said its first international credit rating of A3 from Moody's Ratings strengthens its credit profile and elevates the group's standing in the global capital markets. 'This positions us to secure more cost-efficient US dollar funding, diversify our investor base, and unlock strategic cross-border financing opportunities that support our long-term growth trajectory,' Wan Razly said.
New Straits Times
09-05-2025
- Business
- New Straits Times
Affin extends RM500mil loan for MV6 to buy Cold Storage Singapore
KUALA LUMPUR: Affin Group has announced a landmark RM500 million financing agreement with Macrovalue Six Sdn Bhd (MV6), marking a pivotal move in regional commerce between Malaysia and Singapore. This fully finances MV6's acquisition of a 100 per cent stake in Cold Storage Singapore (1983) Pte Ltd from DFI Retail Group Management Ltd. Affin Group president and group chief executive officer Datuk Wan Razly Abdullah said the deal is a transformative venture and strengthening Malaysia's leadership in Asean commerce. "Affin is proud to support Macrovalue in this historic entry into Singapore and this is not just a financing deal. "It is about enabling regional growth and creating a bridge for capital, talent, and resources between Malaysia and Singapore," he said during the ceremony. He added that the acquisition of 89 retail outlets in Singapore, comprising 48 Cold Storage stores and 41 Giant outlets followed the successful turnaround of GCH Retail (Malaysia), including Giant Malaysia. With Malaysian strong infrastructure and a localised strategy, MV6 aims to deliver greater affordability and variety to Singaporean consumers while strengthening Cold Storage's position as a premium retail brand. MV6 executive chairman Datuk Andrew Lim said it has plans for further expansion of store openings. "Our appetite to expand is very great. As long as the stores are profitable, we will open more," he said. MV6 aims to further cement its regional retail leadership by opening six new Cold Storage outlets in Singapore and 12 new Giant stores in Malaysia this year. Despite global economic concerns, Lim said the demand for food and groceries remains strong with minimal reliance on United States imports. As part of its growth trajectory, MV6 expects a 10 per cent increase in revenue in Malaysia and Singapore. The group aims to raise its total turnover to RM5.6 billion, with a longer-term target of RM7 billion as expansion and integration efforts mature.
