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The drop in CIMB's share price comes amid a challenging economic environment, characterized by rising interest rates and inflationary pressures that have affected investor sentiment. Analysts note that the financial sector is facing headwinds, including increased competition and potential loan defaults, which could impact profitability.
Currently, LTAT holds a 28.88% stake in Affin Bank, while Boustead, wholly owned by LTAT, possesses about 20%. Sarawak's acquisition will include Boustead’s entire stake and a portion of LTAT's shares, positioning Sarawak as the largest shareholder in Affin Bank. Presently, Sarawak holds a modest 4.8% stake.
Currently, institutional investors—such as pension funds, asset management companies, and sovereign wealth funds—hold a significant portion of shares listed on Bursa Malaysia.