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AmBank securities trade suspended pending announcement

This follows banking group being slapped with a massive RM2.83 bil settlement linked to 1MDB scandal

Updated 5 years ago · Published on 01 Mar 2021 9:58AM

AmBank securities trade suspended pending announcement
AmBank on Saturday requested a suspension of trading of its stock and structured warrants this morning with effect from 9am. – AFP pic, March 1, 2021

KUALA LUMPUR – Trading of AMMB Holdings Bhd (AmBank) shares has been halted pending an announcement.

The group had on Saturday requested a suspension of trading of its stock and structured warrants this morning with effect from 9am.

This comes after the banking group was slapped with a massive RM2.83 billion settlement on all outstanding claims and actions in relation to AmBank Group’s involvement in the 1Malaysia Development Bhd (1MDB) corruption scandal.

The RM2.83 billion settlement is equivalent to 15% of shareholder equity base and nearly 30% of its market capitalisation based on last Friday’s closing at RM3.16. – The Vibes, March 1, 2021

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