KUALA LUMPUR: Bank Negara Malaysia has approved Alliance Financial Group Bhd's (AFG) proposed corporate reorganisation, involving the transfer of its listing status to its unit Alliance Bank Malaysia Bhd.
In its filing to Bursa Malaysia today, AFG said the central bank had via a letter dated June 8, said it and/or the Finance Ministry approved the relevant proposals.
The proposed reorganisation will see AFG shareholders swapping their shares for Alliance Bank shares on a one-for-one basis.