KUALA LUMPUR: The proposed sale of part of the Armed Forces Fund Board’s interest in Affin Bank is to rebalance the former’s investment portfolio based on the targets set in the Strategic Asset Allocation Framework , says the Defence Ministry.
The ministry was responding to a question from Datuk Seri Ikmal Hisham Abdul Aziz who wanted to know the rationale behind LTAT’s plan to sell its stakes in Affin Bank Bhd, which is an investment entity under LTAT that managed to record profits every year.
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