Lembaga Tabung Angkatan Tentera (LTAT), a significant shareholder in AFFIN Bank Berhad (KLSE:AFFIN), has officially confirmed the continuous negotiations with the Sarawak State Financial Secretary concerning the acquisition of additional stakes in the bank. A clarification announcement from AFFIN Bank was prompted by a media article suggesting that advanced talks are underway for the Sarawak State Financial Secretary to finalise a memorandum of understanding (MoU) regarding increased stakes in the bank. As of December 29, 2023, the Sarawak State Financial Secretary currently holds a 4.796% stake in AFFIN Bank.

LTAT has underscored its commitment to ensuring that any resulting transaction strictly adheres to the relevant rules and regulations governing such dealings. Simultaneously, any party acquiring an interest of 5% or more is required to notify ABB, prompting subsequent announcements regarding changes in shareholding involving major stakeholders.