05.03.2021
The Minority Shareholders Watch Group is now on Twitter. The presence at Twitter is the first step for us to create strong social media presence and engage with our stakeholders more effectively. Do follow MSWG’s Twitter account at @MSWGMalaysia and share your thought on our tweets from time to time.
The Q & A Session with AmBank
Last Friday (26 February), AMMB Holdings Berhad (AmBank Group) dropped a bombshell in the market with the announcement of a RM2.83 billion settlement with the Malaysian government in relation to the historical transactions involving 1Malaysia Development Berhad (1MDB) and its related entities.
This was unprecedented for the country and is probably the largest such settlement by a banking group in Southeast Asia.
The RM2.83 billion amounted to 94 sen of AmBank Group’s book value per share. This provision will be reflected in its Q4FY21 results, which is expected to push the group into the red for its financial year ending 31 March 2021 (FY2021), according to analysts. As a result, there will be no final dividends distributed to shareholders for FY2021.
