Alliance Financial Group Bhd (RM4.04/share) Wants to sell AIMB stake

Alliance Financial Group Bhd (AFG) has proposed to dispose of its 70% stake in Alliance Investment Management Bhd (AIMB) for RM12.3mil. In a filing with Bursa, AFG said its wholly owned subsidiary, Alliance Bank Malaysia Bhd had entered into an agreement with Tan Sri Abu Talib Othman for the proposed disposal of its 70% equity interest in AIMB comprising 7.9 million ordinary shares of RM1 each
fully paid for RM12.3mil. Abu Talib is the board chairman of AIMB who holds the remaining 30% equity interest in AIMB. A principal activity of AIMB is the management of unit trust funds.

– StarBiz