Market talk has it that Temasek may look to sell its stake in AFG, hot on the heels of its partial stakes divestment in two of China’s biggest banks – Bank of China and China Construction Bank – announced this week.
It was previously reported that Langkah Bahagia, a company believed to be linked to former finance minister Tun Daim Zainuddin, has been keen to divest its stake in AFG for quite some time. Essentially, Temasek and Langkah Bahagia have a combined stake of 29.06% in AFG through investment vehicle Vertical Theme Sdn Bhd. Full story
